MINING NEWS.

Dominion, Volume 4, Issue 1079, 18 March 1911, Page 8

MINING NEWS.

t STOCK EXCHANGE. • ; (By Telegraph.—Press Association.) I Dune-din, Uarch 17. Mock Exchange sales:— , Saxon, Zi. ftl. , Sale reported:— ; Waihi, £3 3s. 6d. J TALISMAN. Mr. Stansfield, manager of the Talisman i mine, writing ta a local director,of the company, elates that he is working three shifts on tile Woodstock shaft, and is mak- , ins fair progress. -In >io. 12 winze the reel in the south drive is-slightly smaller, but ; carries liigli values. In Uic north drive oil' this winze the reef is wider than the drive, ' and no hauirinifwall is visible; valuos arc : high. The reef in the south drive of tho . Jo. 13 level has widened out from 6ft. to ■ l n - a '.';L, thc average of the whole reef, from 1219 ft. to 1230 ft., is «. In No 15 winze values are still high. DHEDGING. (By Telegraph.—Press Association.) _ , . ■ . Duncdin, March 17. ' Dredging licturns: 9G9 dredge, ICOoz. -19 dv.'t.; Hartley and Itiley, sCoz.; Electric 11, 3502. l'Mwt.; Kopntai, tCoz. 17dwt.; Jlasteitton, 20oz. 3dwt.; Waiknia, ICoz. 12dv.-t.; Central Charlton, 15oz. lldwt.; Lady Roxburgh, lloz. Watchman.—Dui'iliK the past, week the main rise in the Watchman mine was advanced 10ft.,- making a total of 9Sl't. The men are now engaged cutting out the chamber and placing timbers in position. There was nothing done in the City of Duncdin face, but work will be in full swing this week, with three shifts on contract, Mr. T. Naran being the successful tenderer. Three shifts have been engaged laying the road is the Sunbeam lowlevel. This work has been completed up to where tho timbers are broken, and five new sets of timber placed in position. Now Sylvia.—Tho manager of the NewSylvia mine reports as follows for tho week ended March 10:—"New.low level: Tho contractors have advanced the face 9ft., making a' total of 598 ft. at the new-battery. Water has been turned on, and all tanks filled. .The machinery worked well on a. trial being made. Tho new a-ssay building is now in hand, aud will bo pushed on with all dispatch. J Halcyon—The main tunnel on tho reef cast in the Halcyon mine, Thames, is now in a distance of lEOft. Six feet of tho reef was broken, down last week, and in the last quarts broken out there are good minerals and coarse colours of gold. The reef is still about 2ft. wide, and in the stopes is still making splendid minerals and colours of gold. As scon as the battery is available another crushing will be commenced. Dixon's Consolidated.—The following is tho iirst report issued by the new manager of Dixon's Consolidated mine (Mr. A. Christie):—"ln the No. 2 level. 12ft. was driven on the Windfall reef last week. The broken;ground showing in the crosscut has just been passed through, and a firmer and better class of country has been met. with. At this point the reef is about 2ft. in width, and of a rubbishy nature, dipping at an angle of 35 decrees to "tho west. In tho Day Dawn level 6ft. was driven on tho Windfall reef. A milder and better class of couutry is being met with. Zcehan Consolidated, Limited—A further 16ft. has been driven in the low level face during tho past week, through good rock for values. Although a good many quarts veins are always present (characteristic of the country), so far nothing has been intersected that would indicate the reef formation. Strong gushes of water are being tapped in tho bad: of tho drive, and the only reasonable conclusion is that the reef is dipping away further than expected, and wo can expect to cut it- any day. The overflow from the winze has stopped, but tho water has not been lowered more than three inches.

New Waitaia.—The leading slope started south from tho main rise at the intermediate level shows a nice reef two feet wide, which vould be more than payable if it maintains its Fizc, although the couutry is fairly The north facc at Xo. 5 level is improving in apnearaDce, clean quartz comins in, whilst the country also looks decidedly better. At the low level the crosscut. v;as. extended 16ft., past the reef, and a hole bored straight into'tho' face for 10 feet, without touching anvthinp m the nature of quarts. The drive is now being? opened out north and south on the reef, five fost. cach way bcinc attained to I dats. There in a slight break in evidence where the renf was cut. The llow of water from the north end is very heavy, which, in my opinion,,, eoes to prove: that.l'there is an open body of cuartz in the vicinity. THE WAIHI MINE. REPLY BX Jl®. BHODES, . ■ (By Telegraph.—Press Association.) , Auckland, March 17. I Mr. Rhodes, local attorney for the Waihi Company, replying to the statement of the Wellington Shareholders' Committee, says: —"Not even once has an ollicial statement issued by the company been erroneous. Official statements have be?n confined 6trictly to the facts or to announcements of the board's policy. "Williams's opinion as published regarding the prospects of No. 10 level does r.ot stat<; any fact, merely an opinion," and even that opinion may bo confirmed as a fact."

Referring to the lapse of time between the directors' anr.ounceraent of the reduction of output and the publication of Williams's report foreshadowing it, Mr. Rhodes says tho experience of No. 8 level had shown great cauti-on was necessary in placing a value on any particular level before it was fully opened up. It was not until towards tjie end of 1910 that the opinion took uciinite shape iu the minds of the management that- No. 9 level was undoubtedly far below the value of any level above. On receipt of tho said information from Williams, and a fuller knowledge of No. 9 level, tho board considered the policy of the company woukl be better conserved by commencing at once to reduce the tonnage, instead of waiting for a. year to do it. The "returns of £68,000 per month could have been maintained for .1911. but in that case the position for 1912 misrht have been prejudiced, lienco the safer method adopted by tho board for the coming two years. WAIHI SHARES. By Telegraph—Press Association—Copyright London; March 16. IVaihi Goldmining shares are quoted at 625. 6d. (buyers), and 655. (sellers).