MINING NEWS.

Dominion, Volume 5, Issue 1392, 19 March 1912, Page 8

MINING NEWS.

(By Telegraph.—Press Association.) TALISMAN. A VISIT TO THE JUNE. (By Telegraph.—Special Correspondent.) Auckland, March 18. t A special representative of the "Herald," having visited the Talisman mine in connection with tho drop in shares, tslegraphs as follows:— A visit to the mine last Friday failed to disclose anything to justify a drop. Certainly underground developments offer no cause for uneasiness as to the existing position or future prospers of the Talisman Company's propsrty at Karangahake. Those in touch with developments will no donlr; remember that at the Uth level the total length of pay ore on the rich Bonanza chute barely exceeded ffiOft. in length, whersos at the 14th level, where operations arc now in progress on'the fame chute, the run of high-grade molorial has already been proved for a length of upwards of 12CCft.. the valua having spread both north and south going down. The soutn face, which was stopped temuqrarily ponding the completion of certain works in Xo. 12 winze, will shortly be resumed and I advanced south to t'lo Dubbo section, with I the objont of gcttinir under , tho run of vnlues which came in at the 13th bvel, and this section of the mine will also be exploited by o, winze from No. 13 level, tenders having already boon invited for tIU3 latter work. V.'iniing will be commenced immediately under Xo. 16 rife, which went up from the 13 h level for KCft. to 150 ft. in good grade ore on the Dnbbo chute. Since leaving: the. Woodstock fault at i\o. 14 level, Hie drive north has been in low grade ore. corresponding with 'ho poor section of lode encountered at Xo. 13 level, but the present face at the bottom level ii now almost under whore the values came in again overhead, and wher* No. 1 winze going down from vhnljth level shows the reef to bo lift, wide nnd of good quality. The only other development, of intci'fst. in progress at this depth is Hi" rise being rut up to eo»ni>et with No. 8 winze from No. 13 level. Thi.-- w.-in the only poor winze sunk, and is down 50 fee*, the reef in 'he fioor being small and low grade. The ri.=e going no to met it liis attained a heselit o! <Oft,, and has bc"ii in good pulnhide ore» all the way, ;ho "venire width of the lor>n l-ii'g 4ft. t" sft. Th» Xo. 12 winto from \o. 14 level i< dawn rr.tlier over 80 foot, and a Rfransr body of ore carryinir very liigh-grniln F"lnhides has been in evidence for the full di:< anc». sun!; with no indientions of n.change. On the llc-.r of the winze finking lms been susp»nibrt for the time beimr. and drive* nrn being pr.->jectctl botb mrth nnd poutli with the obieo* of reliovinnr the waterpreiP'ire in the Talisrunn main shift, nnd providing ft.nvnire o':ronimn'Je>-ion in ordov thnt the Ftnkiiirr of the shaft for n. ISth level m-iv be exncditiously procrodert with. The drive no;'.!i is out' .nbout 35 f«"t fro-" tho wiitw. and for the last 10ft. to 15ft. driven tl'o lode ha= split up into Ftringers, and values have been eom-nn-atively low. T!<o drivj is a; pr-sent. the haniiur-w.all seetion of lh«, ore body. a;u! the I<i.=t round of holes Pro'l (1 few hours before the visit) show* that the reef is widening out again and iniiroving in appearance, while t!v> encasim? country continues of the s.iine fivonr.ible description as Hint from til" point where <lrivin<r co"vn:e>;eed. Thus it m<l y be c.spected that the disturbance will urov not.hin? more than a "loci! nincV and tb.it with a fow feet of driving the reef will rnsum? its normal conditions both as vecard* width and valiins. Similar "ninehos" hav<! occurred in otlier p"rls of th.n Tine in driving along the levels, and sinUiiiT. I'isini, nnd stoning on the lode, anc' the ?nni!?tement. stye that pnst oxpe.rience hns invariably rhown that the?e ''olnchc«" bfive been of but hrief duration, the. reef always npsmnins its nciml't.-'to after driving a shpr: di=itance. T'.'o ilriv« tnulh from the winro hns beon advanced about 40 feet in hiirh-grado materiol. aiul n. strong b"rb of ri,»h ore is showing in the face. From other parts of t'"v mi>'e tliere lisv? been no changes since the nublie.V.ion' of the last report, though it'irny 1™ mentioned that the sinking of t.'i'e ■Woodstock shaft is being steadily proceeded with.

AUCKLAND STOCK EXCHANGE METHODS. (Ey TeJeiiranh.-Snecial Correspondent.! Christchiirch, March 18 In an editorial noto to-d«y, "The Press" .«3.5-5-.—ln a recent arliele on Auckland Stocl; Exchange methods "The Press" inoldeiitr.llv remarked that thera was 0110 stork that apmrontly refused to be "beared," namely. Talismans, and it was in nttemptinc what in hk case nroved to lie impossible tint one Auckland tbarebrnker oam? to gri;f. It lias been suggested us, that our remarks were Token by the nnterprising onentor? in the north as a r'lMlenge, and tint "the recent fall in TMisman is llicir renly. I; is further asknrt if we will not "drira" ;h?m to put no tin price of Waihis in tlio hope that cprtiin unfoituPTtp shareholders, who bought the stock believing it to be f"i:il to n. trust investment, may breath a little more fr?ply. We ten. tlin noint, but cannot undertake tl»o resnonHbility of "daring" the Auckland Stock Exchange to do anything. A HEEF STItUOK. (By Telegraph.—Press Association.) Rocflon, March 18. A reef averaging 4dwt. was struck lately at the head of Broadway. Driving dis-c.lo.-ed stone 3f.t. wide. A good do.il of inieres', has h-'cn caused, a-i tlic find is only a few yards from the town boundary. STOCK EXCHANGE. IDy Tdceraph-rrcss Association.) Auckland, March 18. No hiisincs: was transacted on the Stock Exchange to-day. DunoUin, March 18. The following sale- were rcpor.ed on the Stark Exchange to-days-Hartley and llilcy. !K 6d. Talisman Consolidated. £2 65. 9d. Dunediii, March 13." The following or* the Slosk Exchange Dredging' stock-: Illackwatcr. buyers 75.; Electric, buyers 3». 5d.; HsirtUw and Iti'.cy, buyer.' B=..' seller.- IC-.; Lady lioxbtiru-h, sellers If. 611. ■Mining stocks: Xoliomai Hydraulic, buyer* 17.-.. >ellcr.< £!: Gm.-tilidi'trd r; o kl(iclil<=. rM'.er, 15-. 6it.: Kiirsiimi Cnlotlniiitiii. i'-H----its Is. 5d.: Old Ilsiur.'iki. K'llrrs U.: May Quern, feller* 1?. id.; New rtylvi-j. fillers K 3d.: Npu- Zc-ahnd Crown, teller;! .'.?. .'■'!.■ Waitamri. buyer? l=. id.. si-Hcr; i=. fii.: Talisman Coii«oliiliitrd. buyers S.Z 6.-., »pIliT3 £2 7s. 6d.; Wiiilii. buyers £1 19.=.. pcl'.'ts fi lls (Id.; Wailii firmid .Tnnriioii. havers £1 7f. Id., snllers £1 85. 6rt.: Wa.iotnl'll, pellerF 3?. M. InvottmrjH ttooltr.: N'ndonnl Bank, buy. ora £9 175,; Union aionin Ehip Couuiajur;

buyers £2 If. 6(1.; New Zealand Drns Comp;i'nv l£2). buyers £2 10s.; Now Zealand I'iilisf Mills. sellers .£1 i<. 3d.; Osimaru V.'oMlcn Factory, buyers £1 If,. 6d.; AVhitci)iiil)t' and Tombs, buyers £6 9s. DREDGING RETURN'S. . (Br TclccraDli.-l'rcss Association.) Dunedln, Match 18. Dredging returns:—Mis-inc Smw J7oz. 15 ilwt.i Waiknka United No. 2, Uoz; lbdwt.; Worksop, 620z. 7(lw:.; Snndy P'Jnt, 2Goz. Roefton, March 18. I'actolus dredge returns for '.lie week:— 280oz. 17d\vt. for 117 hours.