MINING NEWS.

Dominion, Volume 6, Issue 1622, 13 December 1912, Page 10

MINING NEWS.

WELLINGTON BHAKE MARKET. . A sale of Waitangi shares at 9id. at the morning call'was tho only transaction recorded in the mining market. The quotations wore as under:— Buyers. Sellers. £e. d. . £s. d. Kuranui Caledonian 0 12 0 14 Murray Creek - *0 10 0 New Sylvia 0 11 0 12 Koss Ecconvrtructed 0 4 8 0 5 0 Saxon ; 0 0 7 - Talisman 1 IT 3 118 0 Waihi 113.0 114 0 Waihi Reefs - •■ 010 Waihi Grand Junction ... 1 2.0 12 6 Waibtahi >. 0 2 4 0 2 6 Waiting! 0 0 9 0 0 11 *Prcmium. STOCK EXCHANGE. (By Telegraph.—Press Association.) Auckland, .December 12. Business done on 'Change this morning:— ■<■'• - : Talisman, £2 Us. 6d. Waitangi, 9Jd„ lOd. Tho following business was done at the 3.15 p.m. call to-day:—' Waihi Grand J unction, £1' 2s.- 3d. .. ■ New Zealand Drug, £2 9s. - 6d. Christchurcft, December 12. The following sals was reported on the Canterbury. Stock Exchange to-day—Man-ning and bo., £4. Dunedin, December 12. The following sales were made on the Stock Exchange yesterday:— ■ Union Steam, (ex div.), £2 75.. (three parcols). /','■''.- ...,;' SWASTIKA GOLD MINES. ';• The mine manager, In his report dated December 7, says:— Tho outside work, at the mine is now completed, and enough mining timber accumulated to supply out reouirements for three months. So we have plain sailing' in front- of us, and, as previously reported, ivc will be getting from battery tests a regular gold, return' for the future. The; big reef lias been connected by a wire with the top paddock of tho aerial. We have erected a bin to store all stone from the big reef. ' A sand tank has also been con: structod at tho battery for saving the'tailings, so that tho entire value of stone, treated can bo ascertained after each crushing, that is, the actual gold saved and what remains in the residuals, this latter was particularly insisted on by Mr. Wilson. We started the battery going, and sent down all the stone and rubble available ■ about the workings, and as all the stone is gold-bearing, it will put the 'plates in good order for the trial of the big reef. AH. going well, I expect to begin tho delivery of stono from this source on Monday, and should have it through tho mill ,and cleaned up a week later. I propose to work'three levels all on. stone. There are altogether five leaders on- the ■ tram-lino, that is our highest point, for convenience;■these are numbered 1 to 5, from west to east. Tfeoso aro all in a zone about ICO feet across. Two hundred feet below these is the big reef which will be designated No. 6. And about 100 feet below, this is the Now Find, for the future to be called No. 7. Following the advice of our experts, three, objects' are to bo kept in view:'.(l) In the top zone to get to the junction, of No. ,2 and No. 3, and from these crosscut, to the No. 5, well ahead of the flow of'water. The water was the cause of the name given it. "the wet leader." Mr. . Wilson was of ' the opinion that this flow of water was indicative of a big fissure ahead, which would probably contain' a large body of stone. (?.) The driving on and proving of the bfz reef—No. 6—and (3) Driving on No. 7, which Mr. • Wilson says should pn.y for itsolf. These three operations will now go steadily forward. I started No. 3 with two men, and on Thursday last they b.ad three makes of stone in the faco. 'One was 20 inches, and two others of 6 to & inches respectively, making ,a. total of 30 inches of stone in • the drive. .: This is' excellent, and augurs well, for good developments where it junctions .with No. 2. approximately, thirty feet ahead. The big reef is now ready for driving on, widening pnd grading from the outcrop to:60 feet in, and has given us a fair. average iv»,mpic for the battery tost, of this, ,por-. tion of .it.. At No. 7 the face is - squared up. timbered, and ready to commence driving on. Number 3 and No. 6 are essential, and must be pushed on. I nhall only continue No. 7 as long as it, pavs. -Some valuable information may bo gleaned from it for future operations, but T do not thinl: for our present purpose it is absolutely necessary.