MINING NEWS

Dominion, Volume 7, Issue 2143, 8 May 1914, Page 10

MINING NEWS

WELLINGTON SHAKE MARKET. The husiniesa done in the mining market yesterday was: Talisman at 365. 6d., 3fe. 6d., 365., 365., 365. 3d. The quotations were as under:— ( Buyera Sellers. £ s. d.. £ s. d. Blackwater — 0 IB 3 Dominion Developing ... 1 1 0 — Boss Reconstructed 0 4 3 — Saxon — 0 0 8 Talisman 1 15 9 1 16 3 Waihi 2 16 - Waihi Grand Junction ... — 7 7 3 Waitangi — 0 13 STOCK EXCHANGE. (By Telesraph.—Press Association) Auckland, Hay 7. Sales on the Stock Exchange this -morning :— Waihi, £2 26. 3d., £2 2s. Boss, 4s. 3d. . Auckland Gas (con.), 15s. The following shares were sold at the afternoon call:— New Zealand. Insurance, £6 4s. 6d. Iloss Goldflclds, £4 45., £4 6s. Waihi Grand Junctions, £1 7s. Christchurch, May 7. Sales—Wellington Gas., £16 7e. Duncdln, May 7. The following sales were made on the Stock Exchange to-day:— Waihi, £2 2s. Union Steam (ordinary), £1 bs. 6d., two parcels. The following sales were reported:—Talisman Consolidated, £1 165., two parcels. MOUNT MORGAN RETURNS. By Telegraph—Press Association-Copyright Sydney, May 7. The Mount Morgan returns for last month sliow that 19,151 tons of 'Mount Morgan ore and 5719 tons of Many Peaks ore was treated,'and produced. 711 tons of blister copper, containing 704 tore of fine copper and 8233 ounces of gold, of a total estimated value of £77,095. TALISMAN MINE. LOCAL DIRECTORS' REPORT. The following report of the local directors of the Talisman mine has been forwarded to the London office:—"We havo to report that Mr. Jackson and Dr. Knight visited the mine to-day. and have to state that they were well pleased with what, they saw. The most pleasing feature was the witnessing of the Cornish pump in working order, nfter so many vexatious delays. At the bottom of tile Woodstock shaft wo lolind a great deal of water coming out from the face, and one of the holes showed a quartz seam at the end of it. This is probably the lirst appearance of the Maria reef. So doubt before this reaches you full details will have been telegraphed you. Goipg back to the Bonanza section, we .went down the lith winze, which is now down 131 ft. from the random of the 14th level. We found a good deal of water lforrr.,g from the south and from the western wall. The reef formation at this point is wider than the winze, and has every appearance of good ore, but does not carry values. The surrounding country is good, and is not different from that which surrounded the winze on the first 110 ft., which carried the very highest values yet obtained in tho mine. It may bo well at this point to give shortiy the history of the 6licet of ore as disclosed by this winze. Above the No. 11 level, 50 feet below No. 10. the reef woo poor, and it was not until 50 feet was reached that the values came in, and gradually increscd up to £4 a ton. No fewer than three barren zones are found in this winze below No. U level. For the first 50 feet the reef is payable: from 50 to 110 feet the reef becomes small and the oro vnlue is low grade in character. At 110 feet to 180 feet tho reef becomes 5 feet wide approximately, and carries high-grade ore. No. 12 level, from 0 to BO feet, tho reef shows good payable ore, ami tho formation is 4 feet wide. At 80 feet values go oiit, and the reef becomes narrow, and continues iiutil 140 feet deep, when high grade oro is found, and the width becomen 5 feet. This condition is found until 13 level is reached, and for 35 feet deeper payable values remain. From 35 to Co feet, the reef formation becomes very narrow, Olid the quality of ore is low grade. From CO to 150 feet ore is obtained, and lhe reef formation increases in size, to 7 feet nl the 14!h level. From the random of 14 level to 110 feel, the- ore is liish grade, up lo £20 ill value being got. From 110 to 131 feet, low Krode ore is found, nod about 5 feet of reef is exposed of the workings. which oro at this point on the foo'twoll of the Toef. So far as we can see. there appears no reason why values should not be obtained at dentil, ond this is the view of Mr. Stansfield. One cannot, having in view tho previous history of the mine, expect the very liiprh values recently obtained to be continuous fty ever, and shareholders are not tca-onable if they are disappointed at the appearance of another baron tone. We did not go down No, 5 vrinie, whicU la 40

feet down, because it is full o{ water ot the bottom, hut on looking through tfie «st3ay plan of thu mine, we see Again tb.it values founa oil the lit-h level wont out iu La? 3 than 30 foot of rise above that level, between No.*. 13 anil 14 Jcv-els there were no blanks, and valuer were abtaiiUM'l varying from £5 to £20, and up to date values ttfo maintained ,aiut the iorniiitioft is 6 fost wide. Further development at thia point should prove interesting. No. 14 winze contained »o values from the lo to 14 levels. No. 19 winze ou thej floor of No. 14 level is now down 51ft. For 31 it. -of this dist:uK© there arc good valuers, and theft a barren zone occurs, but values are apparently coat' ing in again at the bottom. This wi.'iw; it* at present stopped on account of water. The No. IV winze is th?. most southern in'the mine, and is down and earriciy good values, except that the bottom values are slightly lower than above. Above tho level so far as the reef has been risen ou, good values are obtained, £11 ore. and a formation from Zjft. to 3ft. A few more months' work will oaabtc to find out tho value of the Woodstock end of our-property. We have ascertained from Mr, StanefteM that for the next six month.'? he expecte to obtain the same average return? o.s for the laet. oix months* working time. We may expert the Maria, the Shey*. herd, the Woodstock, Cornes, tho Karangahake Resfs. to be found in our Woodstock and northern ground, aud if they prove to be ore-bearing this will practically result in our having a new jninc. Then tho question of the erection of a modern crushing and treatment plant frill have to bo faced. On the whole ,the prospects of the Bonanza and Dubbo sections of the mine appear a<3 good as they harp been in the past, and we have not any foars for the future.