GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 14 October 1901, Page 2

GOLD DREDGING.

During the past week a very much healthier tone was evidenced in dredging matters, a feeling that wo had got round the corner ; that the initial difficulties if not completely overcome had, at ■ least, their back broken that in future we should have a sufficient number of companies to give gold returns week by week to amply demonstrate that dredging property managed and equipped, is a real solid investment, and not as before a mere gamble. Of course the “ call'’ difficulty is with us, and is likely to be present for months to come, but though a good many may find difficulty in meeting the demands, yet with the rally that bus set in, relief, which was impossib'e some little time ago, is within reach in the disposal—possibly a» a loss —of stock beyond the financial capabilities of the holder. The share market—no uncertain barometer —has not only hardened, but is a good deal less nominal in tone, sales not only being possible but frequent. We may therefore look forward .to a much happier condition by the end of the year, and without being too sanguine anticipate that the second year of the century will see the industry-on a sound foundation, profitable alike to tho individual, the district and the colony at large. Turning to the general returns for tho week we find the results on the whole are satisfactory, and what is better still, tho indications are for further improvement. The Bullek Junction is again to the fore with a handsome yield of 46 ounces 5 dwts for 120 hours, and is even now verifyng Mr Kingswcll’s repeated, assertion that the claim was a highly payable one, As the machine has only yet been a fortnight on her present site, she can hardly be working to best advantage, and we look for increased yields in future.

The Pactoltjs is another claim, always highly thought of, that has come to the front with a rush. Last week working but 73 hours, a considerable time being taken up lengthening the ladder, she gave 46 ounces 3dwts, which for a full week’s run is equal to 80 ounces. Taken in conjunction with Nelson Creek dredge ample evidence is forthcoming of this district being a splendid field for lucrative dredging and should encourage other claim-holders to pu4i on with develop ment.

A. 1. dredge gave her record last week in 36 ounces for 125 hours. This claim has shown steady improvement for some time past, and although the ground is a trifle tight the dredge excellently handled apparently has no difficulty in getting through the work.

Greenstone Junction, in returning 44 ounces sdwts has established her record. She is now on improving ground and dredging towards Fuschia Creek, which is regarded as rich ; indeed, it is pretty certain that any unworked part of the Greenstone Creek will yield hand some returns, and the Junction has a good bit of this ground in the claim. The ground varies from about 25ft to 30ft deep is good dredging ground, as can be seen from the splendid run of 138 hours out of 144. There is, however, heavy wash on the bottom, and a few feet of silt on top to be shifted. It is generally felt that she has not reached the best of her ground yet, and some bets have been hazarded on a substantial increase in the not distant future. Among the articles found on the tables during the week were a piece of a gold ring, a chain, and a sixpence coined in 1844. This latter was none the worse for the wear: even to the milled edges it was perfect.

The Grey Bivbk somewhat disappointed those who watch dredging events. She had not a full week certainly, but a good many expected at least 30 ounces. The machine is now working on a shallow spit near the mouth of Stillwater Creek, whore she is expected to get average returns of 30 ounces per week. The directors in their report declare that they have |ound no gold at a greater depth than 20 feet, and although the putting down of a few bore holes could scarcely be considered to prove this fact, it is deemed sufficient to at present prevent further expenditure in lengthening the ladder of dredge or going in for further expenditure on machinery. Doubtless when larger and more powerful dredges are in vogue the whole of the ground will be worked to advantage. The Leviathan is not doing satisfactory work, and results are discouraging. Her return of 10 ounces lodwts for 75 hours is a little over working expenses. The pontoon and machinery are showing evidences of recent mishaps, and this together with the financial position of the company does not tend to please shareholders. All the same there is a good deal of highly payable ground in the claim, but so far the dredge has been singularly unfortunate in not being able to strike it.

Three Mile Greenstone return for last week was 15 ounces for 100 hours, only 60 of which was in solid ground. The flood in the Creek on Wednesday went very nearly silting the dredge up, and she has been cleaning the paddock out since. Dredging is just below the confluence of the Three Mile Creek with the Greenstone itself, and the spot being rather narrow the full force of any fresh is felt with unusual severity. This then accounts for the reduced return, „

North Beach for five' days gave IS ozs 10 dwts which is about the average so far. There is a deal of silt yet to contend with, and this class of wash is expected for a couple of months, aftmf which the machine will get on to wash through which several runs of gold are believed to bo; indeed, in the opinion of miners who know the locality, these runs have been proved to exist. Until the dredge gets on to this ground the yield will likely be about 25 ounces per week, but after that a great increase should be obtained.

Grey Consolidated return of 12 ounces 8 dwts for 124 hours is disappointing, but the rough character of the ground being operated upon, accounts for ness of yield. A number of boulders were met with, some of which will have to be to get out of the way. . A bearing’ on the second motion shaft broke early on Saturday morning, but the dredgomaster expected to get a fresh start in the afternoon. This dredge should soon get on to a better run of wash.

Greenstone Creek return shows a slight improvement, but scarcely sufficient to clear expenses. So far this ground is not coming up to the anticipations found in prospecting. The general opinion is that no great improvement will take place until the machine gets nearer the bluff, where some rich ground is believed to exist, Ac the same time it is stated that the wash was improving towards the end of last week, and that this week will show an increased yield.

Nelson Creek gave 65 ounces for the week. This is about what wasexpebted and further proves the opinion that the ground is increasing in richness every cross upwards of the stream. ' The Ahaura —Work stopped during the greater part of the week, only getting in 56 hoars work. On Wednesday a slight flood was experienced. It Is not likely that she will wash up before Saturday.

Hokitika Ejvek G.D. Co.-—The dredge continues to work well, but it will take fully another week to open up a face when many of the old miners at the Kanieri say the returns will probably top anything yet obtained on the Coast.

Tub Tebemakau—A meeting of Kumara shareholders in the Teremakau dredge was held within the last couple of days ta consider what action to take in regard to proposals that have been made with the object of tiding over the present financial difficulty. We understand the means proposed are in the direction of reforming thq company by writing off some ot the present capital turning the 5s shares into £1 shares, giving present holders a pro rata interest, and making a new issue to cover present deficiencies, and provide for completing the dredge. The result so far has not transpired, TofAEA Flat dredge which should have been completed some time ago may be expected to have a trial in about a week. '■

Mahsden Ko 1 is not doing much good yet, as the material being treated contains very little gold. Tbb Staffobd-Waimka dredge is expected to start on Thursday next. A turn was to be taken out of the machinery on Saturday last. Bed Jacks dredge had a. trial run on Saturday and started to-day on a good face of wash.

Euny Cbeek dredge j|s now within fifty yards of ber boundary. A rise in the river is necessary to enable her to get over that short distance.