LATEST MINING NEWS.

Mount Ida Chronicle, Volume II, Issue 118, 2 June 1871, Page 3

LATEST MINING NEWS.

AUCKLAND. News from the Thames state that the Caledonian claim is expected to yield another 20,000 ounces this week, and to declare a £4O dividend. Tre-1 merdous excitement prevails in the share market, and scrip of all kinds has risen. *.< Shares in the Centra! Italy, claim have been restored to their former prices. The Caledonian claim has been yielding 3000 ounces of gold daily, and its shares are selling freely at £2OO. Tookeys are at £2O, arid Belfasts at £B. The Alburnia claim struck rich sold, and its shares rose from £2 to £l2 immediately. Coromandel is attracting attention. The yield from the Tokatea claim is very rich, and shares in it have advanced to £5. The returns for the month of April show that the sum of £IIB,OOO was paid in dividends during the month, exclusive of the Thames Gold Mining Company. On the 25th May the Thames market was unchanged. Coromandel continues to attract notice, and the Tokatea claim it ill yields very rich returns. It's shares have risen to £7. 'The Caledonian Company have lodged 50,016 ounces in the bank. The Bass' Hock, near the Nonpareil, have taken out splendid specimens. The Middle Star have crushed three tons, which yielded six ounces of gold. Dixon's No. 1 crushing of 47 tons gave 194 ounces. The Golden Line opened a new reef, and the ; scrip is enquired for. The new reef is sup nosed to be one of the Golden Crown's. No. .2 has every appearance of containing gold. The Caledonian Company took out eight hundredweight of rich specimens, and about 3000 ounces will be lodged this afternoon. OTAG.O. All the encouraging news comes from the Cromwell reefs. The Koval Standard battery is still .employed in crushing for the Heart of Oak claim. A partial clearing up took place on the 2~>th May, and the result was considerably over 150 ounces of gold from 50 tons of stone ; and as the tables were only roughly cleaned, much of the gold ! remains on them. The exact yield will | be known in a few days.

An abandoned claim at Gully was taken up by Murray and 11 alt-row, who had scarcely begun operations when they discovered an alluvial

gutter fifteen feet in width, and having indications of exten ling through a larije area. Tiie project obtained was over a pennyweight to t : ie dish. The miners at the Teviot are said to have had some good washings up lately; and the bulk of those at Porter's and Campbell's have been disposing of large parcels of gold during the week. AVSTRALUI. Mining affairs at Ballarat are reviving. A proposition has been made for the formation of a company, with a capital of £3,000,000, to cut a canal from the liiver Groulbourii 5)0 mile* through the Mm ray plains, into the South Australian lakes. The project, however is only in embryo at p esent.