MINING.

Te Aroha News, Volume XII, Issue 1753, 24 July 1895, Page 2

MINING.

ALL NATIONS, STONEY CREEK,

The capital of the above company has been almost all subscribed. About dp-ueo have be< n ai’pU; jfor.; the total number issued being 60,000 1 alt 5s each, representing a capital of £ 15,000, The mine manager, Mr RelK arrived here on Saturday, and will immediately proceed to open up the Prospector’s, reef. Captain Argali, in his report on this property for. the directors, said :—The ground has been - found to contain several reefs and leaders, - notably the Big Reef (br better known as the Prospectors’ Reef), which has a bearing in places of nearly south-east and northwest, and standing almost vertical. Where opened on the out-crop in different places the width varies from 2 ft. to Bft.’, between fairly good walls, Tho ore is of a. most favourable character, the quartz at times being *of a very flinty nature, impregnated with iron pyrites, and heavily coated {with the' oxide iron and a.little manganese. , v . - Various other reefs are running through the claim, bearing nearly due .east and west, dipping to the westward at an about 80 dog from the horizon. . The width varies from a few inches to nearly 3 feet, and are all found to be auriferous. Taking ihtb consideration the course or strike of the large lode, the small reefs mast intersect the same at very acute angles/; therefore at, or rear, the junction rich Ore should be encountered, | In conclusion, I beg to state that if the necessary development work is carried.out in a systematic manner 'to prove the —Numerous reefs, there is strong reasoi to believe that even’ the low grade o|b will give profitable results, and the rich bauds of ore which, no doubt, Will be scruck at intervals will not fail to yield good returns of the prpcious metal.