MINING NEWS.

Dominion, Volume 3, Issue 776, 28 March 1910, Page 10

MINING NEWS.

' LONDON MINING PRICES. By Telecraph-Prcss Association-Oopyricht ':'" . . London, March 25. The following aro London sharemarket quotations:—Goldmining: Waini, buyers £3 6s. 3d., sellers £9 Bs. 3d-.;'" Waini Grand Junction; buyers 31s. 10d.,' sellers 335. Id. . -•'■. DREDGING. "•' ■ •.'' ■ ; ■■■','■ , Dur.edin, March 27. .■Golden Bed, sioz ; sd\vt. for 124 hours; Koputai, . 28oz. 6dwt. . for , 109 hours; Otago No. 11., 280z.; Sandv Point, 28oz. 16dwt. for' 118 hours; Punt,'.23oz. 9dwt. for 99 hours; Mystery Flat, 18oz. 2dwt. for 128 hours; Patterson's Freehold, 17oz. lOdwt. for 122 hours; Trafalgar,. 13oz. 4dwt; for, four days.

MINING NEWS;

All tli© terrace sluicing claims at Skip, pers aro report«T : to' be 'taking full advantage of the remainder of the season, and are in. full swing- again. It is understood that they are obtaining satisfactory returns. It is reported that nearly 4000 ft. of pipes are being utilised by the Sandhills Syndicate to bring water to the No. 2 claim at Shotover, This water supply will be used for sluicing the sandhills, and will also assist in making the chan-' nel which is being put through to divert the- river. AVhen the latter is accomplished nearly a mile of river bed will be available for mining. The "Lake County Press" states that quite a novel method of obtaining. gold from a river-bed is about to bo made about two chains below tho Skippers bridge. It is being tried by Mr. Gates, from the West Coast, who' -has constructed a wooden cylinder about 10ft. in diameter, which ho is sinking in the bed of tiie river, with.the object of working payable wash within a radius of tho cylinder, without disturbing the surroundings. The cylinder is already down 12ft., and Sir. Gates appears to be confident of success. : Tho statement of affairs issued by tho TrVaikaka United Gold Dredging Company, detailing last year's operations, shows that tho company was registered iir February, 1599, with a nominal capital of .615,000; 11,200 have been-allotted. The company registered with 23 shareholders, and there are now 3-4 on the list.. 'Sisteen 'men. are employed by the company, and the total quantity and value of gold produced to the end of last year was 21j7370z., value. ;£55,948 13s. Bd., of. which 25710z., value <£10,294. 65., was produced during la9t year. The total expenditure to the end of last year, (including .-638,08(11 paid in dividends), amounted, to .£91,262 19s. 9d., of which =£5504 45.-6 d. was expended in 'carrying on operations last year, which closed'-with'a credit balance of ,6385 .13s. lid. at : the bank'. Debts amounting' to .£357 were owing by the company, but there were no contingent liabilities. According to the "Otago Daily Times" the deep levels at St. Bathans have come into a good deal of prominence of late, consequent upon litigation concerning the ownership of portion of the areas comprising them. Interest, is further r stimulated by. a report, that steps are being taken to exploit some of the deep levels adjoining the famous Kildare sluicing claim. This ground has a lower .dip on the western side, and the lead can be seen in the outcrop. A gentleman possessing an intimate . and scientific knowledge of the whole, area.is of opinion that the whole deposit-is-of marine foimation, and at the time'it was deposited was horizontal, or -nearly so. - A tremendous upheaval occurred, and this accounts for the tilted position of the layers which dip at angles varying from 18 degrees to 45 degrees towards the direction of the 'township—in fact, the whole township is built upon the' quarts

According to the "Otago Daily Times" the deep levels at St. Bathans have come into a good deal of prominence of late, consequent upon litigation concerning the ownership of portion of the areas comprising them. Interest, is further stimulated by. a report, that steDS are being taken to exploit some of the deep levels adjoining tho famous Kildare sluicing claim. This ground has a lower dip on the western side, and the lead can be seen in the outcrop. A gentleman possessing an intimate and scientific knowledge of the whole, area.is of opinion that the whole deposit is-of marine foimation, and at the time' it was : deposited was horizontal, or nearly so. - A tremendous upheaval occurred, and this accounts for the tilted position of the layers which dip at angles varying from 18 degrees to 45 degrees towards the direction of the 'township—in fact, the whole township is built upon the-quartz drift deposit. The angle of the dip is found to decrease the deeper the seams are traced, and, calculations made at the back of the township on the surface layers show a-decrease of about, eight dein the dip of the strata, thus indicating that--at a considerable depth the layers will probably flatten out, and on this flat, which may extend for miles, a. rich harvest of gold 'will probably be won. The ground in the cen-' tre of the basin known as "Kildare Hill" ;has been taken out to a depth' of. 180 feet by tho process of hydraulic elevating, and irt : 'connection with • this, in passing, it can be stated that the highest .single lift in the, world has " been used, but all the ingenuity and modern designs of competent hydraulic engineers have so far failed to reach a greater depth; so that work is confined to the higher levels at the eastern, and western ends of the basin','where very profitable returns are : being, obtained. . But it is only a matter of time when this ground • trill also : ' ; get beyond tho limit,'and ; it . follows that if some, new method is not adopted, the rich'deposit' will remain uri-' worked. :■ .■ ■'•.■ :...-. ■ , ~■