ISOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 9 December 1901, Page 2

ISOLD DREDGING.

The year, it is quite evident, is going to close upon gold-dredging in a pleasing and healthful manner. The sharcmirked for long a mere name, is beginning to feel the steady and satisfactory returns that continue to come to hand, Last week will be quite as good as the previous, and had it not been for breakdowns tho return would have turned 600 ounces, which would constitute a record.

Factoids with 102 ounces for 121 hours again heads the list. The wash continues good, but the worn-out screen retarded work a good deal the quantity of dirt treated being less than during the previous week. The new screen is on ths ground but it is scarcely likely that it wifi be put into position before the holidays.

Gekenstone Junction though giving its record return [of 80 ounces Oidwts for 130 hours, did not satisfy some folks vho confidently predicted 100 ounces at least. The wash is getting richer as the dredge proceeds, and we shall not be surprised ere many weeks are over to see this dredge beat the highest yiejd yet got on the West Coast. One who has a good knowledge of the dredge and the locality declares the company will get a 100 ounce return this side of Christmas. The ground is about 25ft deep with about 6ft of overburden containing nothing. The return for tho week was enhanced by tho winning of a block of greenstone weighing about 2cwt.

A. 1. with 41 ounces for 125 hours shows an improvement. This dredge has a good bit of clear ground ahead, and should get uniform returns for many weeks to come.

Buller Junction 36 ounces for 118 hours. There was little apparent difference in ground treated, and the result indicates that wash apparently alike and deposited there about same time varies in richness.

Beeves Proprietary 26 ounces for 104 hours. No new feature has developed. Leviathan only worked 66 hours, having a breakdown in machinery, yet she got 25 ounces 17dwts, which for a full week moans aver 60 ounces. There is a great outcry among Coast shareholders at the proposal of Dunedin directors to liquidate, just as the dredge gets into good ground, and a meeting is convened for this afternoon to protest against such proceedings and decide upon some course of action. I, is said that local shareholders months ago urged the directors to put the dredge on to the ground she is now operating upon. Hokitika River returns of 23 ounces for 103 hours is not up to what was anticipated. This claim owing to the immense boulders is likely to continue difficult of treatment. If anything like easy dirt is come across enabling the dredge to work freely there will be a big return. She is now in the stream and may strike the lighter wash any day. Ericason's Reward with 23 ounces 13dwts for 121 hours gave her best yield, bearing out our previous reports, that ground was improving as upper clay was diminishing in thickness. It is a pitty the directors cannot see their way clear to put on the extra power promised at once. It would be of great advantage. Kohikohi is on 20 feet deep of wash, seven of which is tailings with a face of. 160 feet. It is fairly rich, but is rough and and difficult to treat, and her 21ozs 15dwts for 121 hours is about as much as was expected. Red Jacks return of 22ozs lOdwts for 125 hours disappointed all except those who were conversant with the difficulties. Timber and want of room hampered and retarded work. The wash is rich and when a fine face is got heavy returns may be confidently looked for—some say rival Pactolus or Nebon Creek. North Beach return of 19 ounces 12 dwts for the week is not considered to be up to the va’ue of the ground. The screen is constantly clogging, up and giving no end of trouble. A diamond drill —which some weeks ago we suggested should be obtained—has been sent for, and will be used in widening the holes. We are still of opinion that a deal of the finer gold is being lost. The present wash with, dredge working well, is thought to be good for 35 ounces a week. Hhe problem of saving the finer gold has not been solved—when it is, there will be a rich golden harvest to be reaped from our beaches.

Grey Rivee only worked 72 hours getting 12 ounces of gold. The old complaint ; submerged timber, is still about. On the the spit that dredge has for two months been working, a powerful machine that would dredge all before it

and clear the logs, would get 60 ounces a week. Possibly the time is coming when such a machine wiH be in operation on Dobson No 2, Grey Extended, and Grey River claims. Such a machine and such an amalgamation would pay well.

Greenstone Cheek was working the greater part of the week on silt brought down by a flood. The return of 10 ounces is for G 6 hours work. This claim is improving, and will give increased returns as the dredge approaches the northern shore. Hugging the southern bank so long was a great mistake. Stafford-Waimea— Word was brought to town yesterday that the StaffordWaimea return was lOozs, bm this is not official. This dredge has not yet overcome its initial difficulties noted in previous issues.

Qkey Monabch —A meeting of shareholders in the Grey Monarch Gold Dredging Company was held at Dunedin last week when a motion that the company be wound up voluntarily was agreed to. A meeting to confirm this will be held on on the 20th inst.

Thu Golden Chain Company’s dredge is to be removed to the West Coast. This course has bten adopted owing to the failure of the Moa Flat and Gibb’s Beach dredge to get payable gold, while the Golden Chain Company’s claim lies between these two.

A Dunedin Cojip-.ni’. —At a certain dredging company’s meeting, when a list of those in arrears for unpaid calls was handed round, considerable surprise was expressed at the disclosure that the chairman of directors was in arrears for some £SO, more than half the total amount. The position was much commented on. New Eivee— An extraordinary general meeting of shareholders of the New River Gold Dredging Coy. will be held here on the 18 th to consider a proposal for increasing the capital by the creation of 14,000 now shares of 5s each, to be called preference shares, entitled to the whole net profit of the company, until the holders have received in dividends the sum of ten shillings, when the shares will then rank as the other shares. The directors in a report, give the position as follows :—Liability to bank, under the direet-rs’ guarantee, secured by a mortgage, £900; other liabilites £450; alterations and additions to the dredge, £1400; contingencies. £250. The directors say that they have made every effort, and kept the dredge working as long as possible, with a view of demonstrating that, with efficient machine, payable results may be anticipated. Taking the small quantity of ground dealt witli [ by the present "dredge, and the gold won there*

from (value JG72O), it seems safe to pre- * diet, they say, that with the improvement to plant suggested, the company would Eossess a very effective machine, and one kely to do justice to the ground, and give payable results. Messrs Cutten Bros., under date November 28th, 1901, report as follows “We have examined the company’s dredge, now at work on the New Eiver, and in attached detailed estimate of the alteration and repairs required, you will find sufficient provision made for greater lifting capacity, and for a more effective machine. Judging from her present state of repair, the hours worked, and the amount of gold won, we are of opinion that the ground is payable, and that proof will bo established when the Rdredge is placed in efficient repair.”