MINING NEWS.

New Zealand Graphic, Volume XXI, Issue XXIII, 3 December 1898, Page 721

MINING NEWS.

The most important feature on the Exchange during the past week was the advance in the price of Waitekauri shares. A week or two ago Waitekauris were offered at 255, bat failed to find buyers at that figure, then a record return was followed by’ good news from the mine, with the result that as high as 27s 6d was offered, but no sellers could be found under 31s. While the price was advancing transactions took place at 25s and 265. Talisman shares also firmed, there being steady buyers at 12s 6d, with no sellers under 13s. Moanataiari shares also increased in value, owing to over £ 1600 being obtained from the mine this month, part of which belonged to tributers. Waihi-Silvertons had an upward move to 6s Bd, but subsequently sold at 6s, and now the best buying offer is 5s lOd. The upward move in Tararu Creeks stopped at 2s 6d, at which figure frequent sales were made during the week, after which the buying price dropped to Is lOd. Some very rich specimen stone was obtained during the week from the Bunker's Hill mine at Coromandel, and as this stock is always very sensitive free sales were made in shares at from 2* 2d to 2s 3d. Sanguine people are once more talking about Legge’s reef, which yielded such large returns in the Hauraki mine, having been at last discovered in the Bunker's Hill. As three leaders are converging together where the specimens were obtained, it is quite possible that this company is at last to be rewarded for the persistent prospecting done during the last couple of years. As will be seen by glancing at the gold output, fables below, the return this month was an excellent one, approaching £52,000. being an increase of £3668 over last month’s yield, which was the then record. There is no doubt that the steady increase each month in our gold output must soon have an effect on the London market, and. in fact, already some disposition is being shown by representatives of English capital to take up desirable mines. Apparently the depression is passed, and mining is once more on the up grade, the difference this time being- that instead of nominal mines on paper, shares in proved remunerative properties may’ be secured at rates which should shortly ensure a handsome profit to the investor. GOLD OUTPUT. A RECORD RETURN. OVER £51,000 FOR THE MONTH. Month after month the output of gold from the Auckland fields continues to show steady increase. East mail the return was a record one being over £48.000. This month the output is over 51.000. with several returns yet to come in. The yield from Ohinemuri mines alone totals nearly £43,000 OHINEMURI.

The following returns came to hand subsequent to compiling the above tables:—Hauraki South tributers, £46 13s 9d; Royal Oak Co., 30 tons, £334. MARIPOSA RETURN. During the past month 212 tons of ore were treated by this Kuaotunu company for a return of bullion valued approximately at £l7O. MAY QUEEN RETURN. £4Ol FOR THE MONTH. The May Queen return for the four weeks ending 19th of November from 180 tons ore crushed was 1430 z 2dwts of gold, valued at £4Ol 17/6. ROYAL OAK RETURN. The return for ..,e month's operations in the Royal Oak Mine shows a considerable decrease. In all 30 tons of ore and 142 lbs of (licked stone were treated for a return of bullion worth £334 17/10. GREAT MERCURY. This Kuaotunu company during the past month crushed 220 tons of ore. The actual value of the bullion obtained has not yet been ascertained, but it is estimated approximately to be worth about £375. ECLIPSE. This Upper Tararu Company has completed a test crushing at the Chicago battery. The parcel treated comprised 104 tons of ore and a heap containing about 500 tons taken from all parts of the mine. The return from a partial clean up was £249 19/7. MAHARA ROYAL RETURN. This company cleaned up after a three weeks’ run of the battery for a return of bullion valued at £ 407 13/7. For this amount 228 tons of ore were treated, and the gold won was worth £3 1/7 per oz. In future four week runs of the battery will clean up in time to square accounts for the out-going mail. BUNKER’S HILL. A few pounds of very rich specimen stone taken from the four inch leader in this mine were on view this week at the office of the local secretary. Mr Stubbs and were inspected by many gentlemen. General satisfaction was expressed at the richness of the exhibit. Shares in the company sold freely at 2/3. During the week 301 b of specimens were obtained. WAIHI CONSOLS. The annual meeting of shareholders lapsed for want of a quorum. The half-yearly statement of accounts showed total receipts £1,523 13/, of which £1,045 4/10 was from calls. The expenditure left a credit balance of £340 18/8. On wages and mine supplies £1.613 19/ was expended; for plant and machinery £406 14/10. and general expenses £163 18/8. KOMATA REEFS RETURN. The return from this mine during the past four weeks is £1,325 from 410 tons. Work in the mine during the month has been stoping on Argali’s lode and the Hartridge leader, and driving on the Hartridge leader in levels No. 2 and 3. The leader in both these levels has averaged 12 inches in width, ami some small runs of payable ore have been opened up. but on .the whole the quartz has been low grade. HAURAKI ASSOCIATED. Since the up-to-date 12-stamp mill, erected by the Co., has been at work, which commenced running in Dee.. 1897. altogether 715 tons of ore have been treated for the company, from which 23130 z of melted gold was obtained of a total value of £6570, being an average of over £9 per ton. In addition to this. £I3OO was obtained from the crushing* prior to the starting of the battery, making a total output of £7870 since the claim was formed into a no liability company called the Pride of Tokatea. GRACE DARLING. The terms of the amended option over the Grace Darling. Portsea. and other adjacent pro|>erties are that the purchase shall l»e completed by 28th

February. 1899. the option holders to deposit £ 100 per month for development; local shareholders receive 90.000 paid-up shares in a company of 240,000 shares at 10/ each; £5,000 cash, less option money expended in developments, to be provided as working capita!, and another £ 10,000 guaranteed to the satisfaction of the vendors 20,000 shares co oe reserved. If not floated at the date mentioned all deposits to be forfeited. N.Z. CROWN MINES. An important and gratifying development has occurred at this company’s mine below the underhand stope from No. 6 level, which though not unexpected dearly demonstrates the increasing size and richness of the lode as depth is attained upon it. A winze was sunk 60 feet from the underhand stope and driving north and south on the lode then commenced, 19ft having been driven to date towards the north and 25 feet to the south. Stoping has also been commenced over the back of the level. The reef is toft wide and the ore is of high grade right through. WAIHI. The manager reports that at No. 4 level from No. 2 shaft in the eastern end the contractors have cut 30 feet into the Martha lode with no indications being met of the footwall. The last foot penetrated no the northwestern side showed mineralised stone. All the rest was free milling ore. For fifteen feet the ore was low grade, but the balance was of first-class quality. At No. 3 level eastward the Martha lode proved to be 58 feet across, eight feet on the footwall side, produced mineralised ore worth loz 4dwt of gold and 290 z of silver per ton. The other 50 feet was free milling, and worth by assay 14 dwts of gold and 2Aoz silver per ton. HAURAKI SOUTH. GOOD NEWS FROM LONDON. A cablegram was received th?” week from London instructing the local manager to recommence opera tions at once in the level from the main shaft, also to go on sinking the winze from No. 1 crosscut. The cable also states that there will bi no need for any reconstruction of the company. Arrangements are now being made to start the above work as soon as possible. A parcel of eight tons of ore. obtained from the Hauraki South mine at Coromandel by Horne and party, yielded £46 13/9. Warner and party, tributers in this mi ne. have sent 12 loads of ore to the Thames for treatment. WAITEKAURI. 1 MPORTANT DEVELOPMENTS. The consistently satisfactory yields of bullion from this company's mine for several months past have proved a source of gratification to all interested in mining, and it is pleasing to be able to record that the development work now being carried out is placing the future prospects of the company in a brighter light than ever. No. 3 level crosscut has intersected the Gohlen Cross lode.and after driving on its course north for 38ft.. payable ore was met and this has continued to improve in quality for the whole distance driven. namely 840 ft. The ore is at present of much higher grade than was got at No. 2 level above. The lodje when intersected proved to be 19ft. across. Ten head of stampers are now working continuously on wet crushing, and although no clean up has taken place since they started, still as far as can be judged the system appears likely to prove a success. It may safely be said the mine as a whole never looked so well. PUHIPUHI. OPERATIONS TO BE RESUMED. The Hampton Plains Exploration Co. (Limited) has now purchased the Piihipuhi mine and plant at Whungarei. Negotiations for the sale hud been proceeding for some time. The property consists of 300 acres. It is the intention of the Company to continence work at once with 10 men in order to break out 50 tons of quartz for the purpose of experiments to settle the question of tin- most suitable method of treating the ore.

Company Tons. £ s. d Wai hi ..7758 . 24.123 0 0 (Record.) \\ aitekauri . 6075 0 0 (Record.) N.Z. Talisman 874 . 3738 0 0 (Record.) oodstock 1000 . 2367 0 0 N.Z. Crown 2700 . 5194 0 0 \X aitekauri Extended — 132 0 0 Komata Reefs 410 . 1325 0 0 Young New Zealand. .. 8 26 0 0 trial £42.980 0 0 THAMES. Company. Tons £ s. d May Queen (Oct) .. 213 .. 408 10 9 May Queen (Nov.).. 180 401 n h Cardigan 39 73 5 6 Tararu Creek (Oct.).. . 1410 .. 1716 0 0 Monowai 70 80 0 0 Mahara Royal (Oct). 310 541 0 0 Mahara Royal (Nov) 238 407 13 7 Waiotahi 100 370 0 0 Sheridan 90 110 0 0 Moanataiari Tnbuters 113 765 x 9 Moanataiari Company 195 876 12 1 Eclipse (trial) 104 .. 249 19 £6000 7 COROMANDEL Company Tons. £ S. d Kapanga Tributers... — 440 0 0 Hauraki Associated.. 160 425 o 0 Hauraki — 1176 0 0 Tokatea Consols 62 0 0 Kennedy and party.. — 30 0 0 Kapanga Co 48 .. 220 0 0 Great Mercury 220 . 375 0 0 Mariposa 212 170 0 0 (Including 871b picket! stone.) ■ —— £2898 0 0 ■ - —■ Total output for month... £51,878 •7 8 Total output for last month £48.210 R 11 ■ ' - Increase £3668 1 3