LATEST MINING NEWS.

Mount Ida Chronicle, Volume II, Issue 119, 9 June 1871, Page 3

LATEST MINING NEWS.

OTA.GO. The Prospectus of the Try Again j Deep Lead Company, Black's, with a j capital of £BOO, in eighty shares of £lO each, ha-i been issued. The United Gold Mining Company's claim at Big Beach, Arrow River, continues to yield handsome returns. For several months past the dividends pnid ; to each or* the five shareholders has averaged £3O a-week ; and last week, it is said, they cleared not less than £7u a man. The ground has been worked continuously for the last seven years, and has from the first proved itself a " pile claim," —several of the shareholders who have sold out at various times having realised small fortunes, and invested their capital in les precarious speculations than that of mining.—' Argus.' The ceremony of the christening of the Maerewhenua Quart/5 Heef took place on the 24th ultimo, in the presence of a large number of visitors. The christening was performed in the usual manner by Miss Donaldson, who, after breaking the usual champagne bottle, named the reef " The Victoria," in honor of her Majesty. The batteries are now in full operation. On Tuesday, the 33th ultimo, a number of the shareholders in this reef proceeded to the workings, to witness the washing-! up. This, however, did not eventuate, owing to the scarcity of quicksilver, a fresh supply, ordered from-Melbourne, not having as yet arrived. The gentlemen, who have since returned, bring back a very favorable report, and appear quite sanguine as to the prospects of *he company. About 150 tons of" quartz have beeu crushed, and it is confidently expected that from eighty to a iiundred ounces will be the result. Everything is in complete working order. Two five-head batteries have been erected, only one of which, till a supply of quicksilver arrives, is at work. A road, two miles long, has been made, and a race, five miles long, constructed. There is an abundant supply of water. Huts for the men and a cooking house have been erected, and the whole affair has been carried out with an energy and faith which, to say the least, deserve a successful result.—' Oamaru Times.'

The recent frosty weather has considerably impeded the operations of the quartz-crushing machines at Bondigo, although considerable quantities of stone are being raised from the claims. Last Saturday the Cromwell Company cleaned up a crushing from the Golden Link, resulting in about five hundred ounces from three hundred and fifty tons of stone. The recent rain will probably give the Alta Company a chance to put through some of the stone they have on the surface. At the Carrick Ranges the Koyal standard machine has suspended operations in consequence of the frost, but stone is being taken from most of the claims. The Heart of Oak claim is still turning out some splendid stone, with an average thickness. — { Dunstan Times.' WESTLAND. A. Ross paper says the Greenstone miners are complaining of having to pay £3 10s. a week for a head of water ten hours a day, by which they give handsome dividends to the flohonu shareholders. The price here is £6 a week for eight hours a day, and £6 for the remaining sixteen hours. At the Five Mile, Okarita, £lO per head is paid for water for the wheels. AUCKLAND. The Thames Gohlfields are still prosperous. The Golden Anchor Company obtained 23j-kzs. from thirteen tons of stone. There is great dissatisfaction amongst the shareholders in the Caledorian at the management of the mine by Mr. liowe The mine is still looking well. The Poverty Bay and Charleston mines have taken out very rich stone. The Golden Link took out a cut of rich specimens. The Aburnia Company have t-.ken nut some m.-jrni-ficmt specimens, and the mine continues to look well. The B sss Rock claim has taken out some rich stone, •in 1 the .Tuni'tion Company are crushiito - from their new reef. The investigation of the charge

against Bird, for Mealint from the Nonpareil claim, is mom;.- mi. A gentleman in Auckland reports that the excitement in Auckland in daily increasing, and far exceeds anything ever known there One gentleman's income from the Caledonian alone amounts to £20,000 per month. Some Corbmandel stock, a few (Jays asjo unsaleable at Bs. 6d., fetches now £7 10s. Tookey's claim is rapidly rising in repute. On the Caledonian claim over £IB,OOO was spent before the color was, seen ; but the first fortnight's working freed it from all debt. He coasiders that other claims, if worked as the Caledonian, are sure to yield corresponding results. • No good can be expected from any mine on which sufficient capital has not been expended. The dividends paid from the Caledonian and other claims are being rapidly invested in others, so that a complete development of the resources of the Auckland G-oldfields may be expected.

28,5000z5. of gold was the yield from the Thames last month.