MINING NEWS.

Kumara Times, Issue 1099, 8 April 1880, Page 4

MINING NEWS.

REBFTON, We take the following items of raining news] from the Inangahua Herald, of Saturday :■— Golden Fleece Extended. —Thia claim is now amongst the most favored of mining properties in the district, and shares have been in request for some days back. This is due to the highly favorable appearance of the mine, which is calculated to give employment to a large number of men for many months to come, and these operations to all appearances promise to be of a remunerative character to the shareholders interested in the property. The proceeds of the late crashing, representing a large sum, will be mostly required to meet existing liabilities, the company having been for some time back opening up the level and patting matters in a state of completeness, and this has necessitated a large expenditure of capital together with the work of forming and laying down a new tramroad to the coal mine, which is now being Btarted. The time of re-starting the mill I have not yet been informed of, bat from the general accounts of the width of the stopes I should think that the stamps will again be in motion within a week or ten days. The present state of matters at this mine promises that a long and prosperous period will be witnessed by those concerned for many months to come; and that, as I have before stated, before many weeks are gone by the scrip holders of this company will be in receipt of dividends. Golden Treasure.—The contraot for the construction of a filling-in shaft has been finished some days. The men employed in the contract are still retained by the company to put the shaft down to intercept the present main tunnel, which it is anticipated will be holed through in the course of a few shifts. The stamps have crushed as much stone during the month just ended as could be expected, considering the scarcity of water, which is far short of that required to keep the stamps plying as speedily as required, and also for the purpose of streaming down. So far as can be ascertained the show of gold in the sand collected during the month will be similar in quality to that of previous cleanings, or possibly a somewhat larger percentage of gold will be the result.