MINING NEWS.

New Zealand Graphic, Volume XXI, Issue XVIII, 29 October 1898, Page 561

MINING NEWS.

SHAREMARKET. Business showed little alteration on the Exchange during the past week, values of most stocks remaining steady, and any change was in an upward direction. Barrier stocks had attention, buyers of Reefs advancing from 5s 4d to 5s 9d, but there were no quoted sellers under 6s. Sales were made of Great Barrier shares at 2s 7d, and more could have been placed at 2s 6d. May Queens were a shade firmer, 4s 4d being ottered. Talismans had steady enquiry, buyers advancing from 9s (id to 10s 2d; and Woodstocks were wanted at 9s 3d, an increase of 3d. In lower priced stocks Bunker’s Hills sold from 91d to lid, owing to a reef being cut in the low level. Welcome Finds sold at 3d, and Imperials had buyers at the same price. The gold returns this week total £9,481 9s 9d. The yield from the Koinata Reefs, while a good one, not being equal to last month’s, when the same amount of ore was treated. A small parcel of eight tons of ore and 2<>lb of picked stone treated for the Nonpareil Company returned £166 19s 9d, which may be considered highly satisfactory. On this occasion it was the company that came off best, as the tribute party treated twenty tons of ore, which only returned £34 worth of gold. Future returns from the Kapanga mine, at Coromandel, should, show improvement, as Messrs Horne and Johnston have by arrangement surrendered their tribute, which was yielding such satisfactory returns. This" step was necessary, as the water was beginning to be troublesome. The Company will now be able to work this rich find systematically and put on more hands, which, of course, the tributers could noit do. Accounts from the Talisman mine this week are of a very satisfactory character, and point to a good future before that company, recent developments having considerably increased the visible ore reserves.

TARARU CREEK. The prospects of this mine show improvement, and ore of better quality is coming to hand. BUNKERS HILL. In this mine an ore body of decomposed quartz has been intersected at the low level, which is one foot wide. NONPAREIL TRIBUTERS. Messrs Chapman and Gane, tributers in this mine, crushed 20 loads of ore for a return of lloz 19dwt of melted gold, value £34 10/. NONPAREIL. The manager telegraphed this week ‘Crushed eight loads of quartz and 201 b of picked stone for a yield of 62 ounces of retorted gold, value about £166.’ TE PUKE GOLI) REEFS. The Bft lode has w : dei>ed to 9ft 6in. 'The country rock continues of good quality, but greatly disturbed, causing the drive to be closely timbered . NEW ALBURN! A. This company’s new winding plant has now been completed sa far as to enable operations to be resumed. Everything is said to be working smoothly and satisfactorily. THAMES HAURAKI. Another satisfactory run of the new pumping machinery took place on the 18th, the idea being to wear down the bearings and have everything in thorough order for starting next month. CARDIGAN. Crushing on behalf of this company is proceeding at the May Queen of Hanrnki battery. The ore under treatment was won from the No. 2 reef, on which lode operations are still in progress.

NEW GOLCONDA. Driving is still proceeding upon the cross leader which looks promising. It is impossible to crush the dirt in hand as the battery is undergoing repair. Aparcel of 20 lbs of stone showing dabs of gold was crushed and returned 6ozs of gold. ALPHA. At No. 6 level there is now only three inches of sandstone between the foot and hangingwall portions of the reef. The fotowall part is increasing both in size and quality. The stone now coming to hand is the best yet obtained. The hangingwall part is rubbly and rather coarse, but still payable, and is improving. KURANUI. The reef in the winze has been stripped for three feet and will shortly be broken down. It is the manager’s intention to eease operations at this point and sink on the quartz, because the footwall has almost entirely closed with the hanging wall portion. As soon as a survey has been made the battery level will be started, and the manager expects to cut the reef after about five weeks’ work. KA PANGA TRI BUTERS. Horne and Johnson, who were lately stopped from working their tribute in the upper levels of the mine by an inflow of water, have come to terms with the Kapanga Comp my, and been bought out. Their tribute would expire in February next. The Kapanga Company will therefore now be in a position to further develop the rich finds so successfully worked by these lucky tributers. BARRIER REEFS. The low level adit is now in 971 feet. The west drive on the reef is in ’-5 feet. This face is not looking as well as it did last week, although the ore is still good. A small horse of mullock is coming in, and the ground is very tight. There are 28 inches of quartz showing in the face. The east face is in 80 feet. The reef in improving and widening out, and high grade ore is showing n the face, the quartz there being 2 feet wide. WAITEKAURI RETURN. £6,036 FROM 1,790 TONS. The VVaitekauri G.M Company has establli-hed c. record this month, the return having totalled £6,036. the avert ee value of the ore treated being £3 7/5 per ton, as compared with £3 3/1 the previous crushing. The quantity of ere treated for this very satisfactory result was 1,790 tons, as against 1,750 in September, so that although only 40 tons extra were treat’ll, the extra value of bullion obtained was £486 in excess of the torna r yield. This brings the output foi (he year up to £50.486 2/2. At No. 1 level, the drive is in 940 feet north, and the lode which was picked up some distance back, after being lost for 75 feet, has now widened out to 6 feet of payable quartz. It is a thoroughly good sign to find the reef ’ ere, 300 feet further north than it was met at Corbett’s level above, and especially when it is 6 feet wide and payable. At No 2 level north the drive is still being carried alongside the -ave. and at the present time the reef shows improvement. The No. 1 shaft is now down 358 feet, that is, 28 feet below No. 3 level, and the shaft will be pushed ahead to No. 4 level. WOODSTOCK RETURN. AN IMPROVED YIELD. E 1 928 FOR THE MONTH. Evidently the change in the systems of treatment of ores adopted by the Woodstock GoMmining Company ;s going to resuF in a more satisfactory output of bullion for the return this ironth shows decided improvement apart from the fact that nearly double the quantity of ore was treated. Altogether 1,(100 tons of quartz were put through the plant during the past month, for a return cf bullion worth £1,928. Of this ar oiml £290 was obtained from the iiea'inent et the concentrates. Last inon’h 520 tons yielded £657. The present return is the largest since last January.

WAITEKAURI UNION, LIMITED. This Company, which possesses two large blocks of ground on the northeast and south-west ends of the VVaitekauri Company’s property, are at present confining their operations to the latter area, known as the Central. Here a main adit level is being driven across the ground with the object of intersecting the Te-Ao-Marama or Komata reef, and ultimately the Golden Cross lode, as well as several other lodes known to exist on the Central. This drive is in 1,400 feet, and is being advanced with the aid of rock drills. The country is of good driving nature, and three shifts are constantly employed, so that progress is fairly rapid. WAVERLEY MINE. A.' IMPORTANT DISCOVERY. Wh.it may prove to b- an important disci very has been made recently in the Waverley Claim, Karangahake. A hitherto un'.iscovered lode has been touml carrying good gold, and it is though, to i.e the lode sought for but never foil’d by the early prospectors. men found rich loose ston . but cculd never locate the reef. The lode new found has been trenched 30 feet on the surface, and opened in. Its size is two feet, and it carries eood gild all the way. No doubt energetic measures will immediately be token to prove the value of the disci '.cry by having the lode intersected at a reasonable depth. ETHEL REEFS. Mr Godefroi D. Ingall, the Auckland attorney for the Maoriland and Ethel Reefs companies, has received instructions from London to refuse acceptance of any more transfers of shares in the Maoriland G.M. Co. (in liquidation) Several shareholders in the Maoriland G.M. Company (no liability) and a number of shareholders in the Maoriland G.M. Co. (Limited), in liquidation, have failed to take the necessary steps to secure their rights in the Ethel Reefs G.M. Company (Limited), and unless they do so immediately they risk losing them altogether. An erroneous idea prevails that there is a liability' on the Ethel Reefs shares given in exchange, but this is not the ease as the exchange shares are issued as fully paid.

MAY QUEEN OF HAURAKI. Development work is being energetically carried on in this mine. Stoping operations on No. 2 reef above No. 6 level are in progress. This lode is looking very encouraging but the best results were obtained from it flong the floor of the above mentioned level. This speaks well for the future when deep sinking is commenced, as the fact that the ore won from the stopes nearere the floor of No. 6 level was richer than that now being taken from the stopes below No 4 is proof that deep sinking at this mine will be a success if properly carried out. The battery has been kept running eight hou; shifts per diem, ten head of stamps being used for the treatment of the company’s ore and twenty two for sundry parcels. ZEALANDIA. After passing through the inch reef nice soft, white country was encountered for 18 inches, and then gave place to quartz again. Three feet of quartz has now been passed through, and the country rock was again met with, which the manager thinks is the footwall. The quartz contains some nice looking mineral, and from its appearance should produce gold when worked upon. Early in the week quartz was cut, and since then • i feet hive been driven, and still there is quartz in the face. This body of quartz is interlaced with bands of mullock, and although no gold has been seen some parts of the reef look very promising and curry excellent mineral indications. N.Z. TALISMAN. Future prospects of this mine are most encouraging, as the company evidently possess a splendid reef right through the Bonanza section, this being proved on the surface for a distance of 1200 feet, without taking into account Dublin's reef lying to the eastward and ir the same belt of brown sandstone country;

and also another large lode to the westward Isith still awaiting development. These latter carry payable gold on the surface, ami will lie tapped by crosscuts from the Talisman levels at a future date. At No. 2 level a crosscut is being driven to get into the Bonanza section, and has still 65 feet to go. As soon as the Bonanza claim is reached driving south on the course of ih ’ lode will be commenced. The backs available at the starting point are 200 feet, which will increase to 300 *'cet under the ridge. At No. 3 level the lode has been driven on 150 feet since the Bonanza section was reached, whilst stoping has been commented anil a rise got under way to meet the level coming in from the No. 2. The lode in the face and stopes is of splendid quality, coarse gold showing freely in part of the stone, whilst the brown andesite encasing toe reef cannot be surpassed. The rise is up 25ft. ami here also good grade ore is being met. Another important feature here and in the No. 4 level is that the quality of the bullion ontained in this Bonanza seetion is much higher than was got in the Talisman section. At No. 4 level driving' south the lode averages over 3 feet, i ; of good quality throughout, and being incased in good country is Viry easily worked. In No. 5 level operations are confined to eross-eutting from the Talisman seetion to intersect the lode in the Bonanza section. Thus Numbers 2, 3. 4, and 5 levels are all being pushed south, ami are opening up s|>lendid blocks of .uriferous country, which give the Talisman mine a lense of life not surpassed by any mine in this district. At No. 6 level stoping is going on in the Talisman seetion. Here the lode is over 8 feet wide, and of payable quality the whole width being dispatched to mill for treatment. At No. 7 level the crosscut has intersected the lode, and driving south on its course has commenced, the lode bein a( present. 2 feet wide. This is the company's? lowest level, and from this to the top of the ridge in the Bonanza seetion is 900 feet, whilst downwards to the river level is 600 feet.

WEEK’S GOLD RETURNS. Companies. Tons. Pkd. stone. £ s. d. Nonpareil 8 20 lbs. 166 19 9 Nonpareil tribs. 20 — 34 10 0 Komata Reefs .. 410 — 1,300 0 0 New Golconda.. — 20 lbs. 16 0 0 Waitekauri 1,790 — 6,036 0 0 Woodstock 1,600 — 1,928 0 0 Total £9,481 9 9