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it showed a width of from 2\ ft. to 7 ft., with good average values for 59 ft., while a drive westward showed widths of from 5 ft. to 1\ ft., but of somewhat lower grade. A block, to be known as White's, was opened on this reef for 155 ft. in length. No. 6 level (545 ft. below collar of No. 4 shaft): Stoping on H reef, Moralee block, and Olsen's reef was completed, and nearly all broken ore was drawn off. No. 5 level (24 ft. sub-level) : Ore was won from Martha lode east and west of Bull's south crosscut. No. 5 level (16ft. sub-level): The H branch reef, one of a group of small reefs lying mostly on the western side of No. 2 shaft, south-east crosscut, was tested for a length of 242 ft. The average value was £2 11s. 9d. per ton. A winze disclosed ore of similar value to 55 ft. down. The reef was tested at No. 6 level, but proved low-grade. No. 5 level (432 ft. below collar of No. 5 shaft) : Stoping was completed on Taylor reef, on Gordon block on No. 2 reef, and Cornes' block on Martha lode, north branch. No. 4 level: A stoping block, known as McCluskie's, was opened on a block of ore on the Welcome lode near No. 2 shaft, and at end of year was up 43 ft. A drive westward on the Surprise lode from No. 2 shaft north-west crosscut for 281 ft. showed good values between the 90 ft. and 243 ft. marks, but the lode only ranged from 2£ ft. to 5 ft. in width. A stoping block known as Gordon's is being opened on this. No. 3 level (279 ft. below collar of No. 5 shaft) : An investigation westward of Martha lode from No. 2 shaft north-west deviation crosscut revealed nothing of importance. Investigation of the footwall country by a crosscut for 121 J ft. revealed 5} ft. of mixed quartz and country, averaging £2 9s. 3d. per ton. Driving was started east and west on this formation. Adit level and surface workings : Some 2,743 short wet tons of ore was won from ground at and above adit level. To test some ground on the Martha lode, in which several small reefs are known to exist, an adit, known as the School adit, was started on the western side of Martha Hill. To the end of the year this had been driven 115 ft. in surface formation. Exploration : Development work and driving in connection with extraction of ore from arches amounted to 12,543£ ft. Output: A total of 184,254 long tons of quartz was mined and treated, from which gold and silver to the value of £454,977 13s. 10d. was obtained. The recovery of gold amounted to 70,784 oz., valued at £416,056 2s. Id., and of silver to 485,257 oz., valued at £38,921 11s. 9d. The company paid dividends during the year to the amount of £99,181 35., bringing the total disbursements to £6,040,645 18s. 6d. The average number of men employed was 556. Total yield of bullion since beginning of operations, 25,198,9(50 oz. 3 cwt. 11 gr. ; value, £17,296,542 13s. 10d. Waihi Grand Junction Gold-mining Co. (J. L. Gilmour, Manager).—The Waihi Co. continued the working of this mine under arrangement. The following is a brief summary of the work done, and its results : Waihi Co.'s No. 13 level extension (about Junction No. 10) : The only work on this level was stoping the Fahey Block on Empire lode, which was carried up to 40 ft., where it was temporarily abandoned. Waihi Co.'s No. 11 level extension (below Junction No. 7) : Stoping of McNamara block on Dominion lode was completed at floor of No. 10 (57 ft. sub-level), and ore was drawn off. A rise put up on the lode from No. 11 level at 267 ft. east of boundary revealed some payable ore, on which Putan block was started. Breaking of ore in Anderson block on State reef was stopped at 107| ft. up owing to values falling. Mining of the arch on Empire lode under Grand Junction No. 7 level was continued. The greater part of the arch has now been broken. On the south part of State reef shrinkage stoping was carried out on Harvey block for a length of about 70ft. Waihi Co.'s No. 10 (30ft. sub-level): The Republic lode, which had been worked above No. 10 level, was cut at 101 ft. in No. 1 shaft south-east crosscut, and driven on eastward for 102 ft., where it narrowed to 1 ft. in width, and driving was stopped. To the 100 ft. mark, values ranged from 14s. to £2 2s. per ton over a width of from 3 ft. to 5 ft. In driving westward on the reef for 199 ft., the average assay value was £2 Is. 10d. per ton over widths varying from 1| ft. to a width greater than that of the drive. On what is known as the 103 ft. reef, the west drive was continued to 220 ft. on quartz varying from 1 ft. to 5 ft. in width, but values were erratic. A small stoping-block, known as Nelson block, was opened, and carried up to 58 ft. from the level, at which point values petered out. On the Dominion lode, several small blocks were opened east and west of Harvey winze, but these had almost been completely worked out at end of year. A small stoping-block (Anderson's) was also opened on the State reef. This block was worked out to No. 10 level. Waihi Co.'s No. 10 level extension (about Junction No. 6) : At about 66 ft. above this level an intermediate level was opened on the Martha lode, south section, east from Brook's block. This level was extended 200 ft. into Grand Junction ground from the boundary, on sulphide ore from 6 in. to 3 ft. wide. On the State reef, immediately east of the State block, a small block called the State east was opened, but after stoping had been carried up to 22 ft. values fell, and work there was stopped. A good deal of testing of the country along the north wall of the Empire lode was carried out without revealing anything of value. Junction No. 6 level: Breaking of ore in the shaft block on the Dominion lode was completed at 40 ft. up, where the reef split up in country. Investigation of the Martha lode, hanging-wall section, was made east of Junction shaft north-west crosscut, and a stoping block, Slevin's, was opened up. Waihi Co.'s No. 9 level: Stoping was carried out on Jamieson block on the extension of Martha lode, but at 66 ft. up the sulphide seam pinched out, and stoping was stopped. Breaking of ore on Dye block on the west part of same lode was stopped at 60 ft. up, while in the east part of the block stoping was stopped at 36 ft. up, in both cases also by reason of the pinching-out of the sulphide seam. Slevin winze, on the downward continuation of the ore stoped in Dye block, was sunk to 78J ft. in sulphide ore of good value, and wider than the width of the winze. Junction No. 5 level: A stoping block, extending from 15 ft. east to 100 ft. west of Dillimore south-east crosscut, was carried up on Dominion lode to 57 ft., where breaking was stopped owing to values falling. Dillimore winze from Dillimore south crosscut was sunk 50 ft. To 45 ft. down the grade of ore was good, but it then narrowed to a few inches, and sinking was stopped. Exploration : The development and deadwork footage driving in connection with removal of arches amounted to 3,205 ft., while a further 238 ft. of driving was done in connection with the standby shaft. Output: The ore won from the mine amounted to 22,746 long tons, which yielded gold and silver to the value of £63,824 13s. 6d. The gold amounted to 9,912 oz., valued at £58,852 10s., and the silver to 61,997 oz., valued at £4,972 13s. 6d. The average number of men employed was sixty-nine. Dividends amounting to £6,906 ss. 4d. were paid. Total value of bullion produced since commencing work, £2,493,880 3s. 6d. Golden Dawn Gold-mines, Ltd., Oioharoa (J. 11. Benney, Manager).—Work was carried out on this property during the year, an average of ninety-five men being employed. The development work consisted mainly in driving north on Nos. 1 and 3 reefs on No. 3 level, the respective distances driven on each being 76 ft. and 152 ft. A crosscut east on this level from No. 3 reef was also extended for 112 ft., cutting a few small gold-bearing leaders. No. 1 reef for the distance driven on averaged 12 in. in width, and No. 3 reef, 18 in. On No. 2 level a crosscut east from No. 1 reef was extended 21 ft. to a total of 80 ft. At 70 ft. in No. 3 reef was cut, and driven on for 9 ft. north and 10 ft. south. The reef was small. A connection was also made from No. 2 level to surface. The stoping operations comprised mainly work on five blocks on No. 1 reef at No. 3 level, totalling 650 ft. in length. The average width of the reef throughout was 2 ft. 6 in. On No. 3 reef stoping was carried out on three blocks, totalling 410 ft. in length on the same level, the average width of the reef being the same as that of No. 1 reef. Stoping was also done on No. 1 reef at No. 2 level for a length of 189 ft., quartz averaging 3 ft. in width. The new treatment plant was employed continuously, and 8,998 tons treated yielded 5,191 oz. 12 dwt. 12 gr. gold, valued at £31,482 15s. 7d., and 14,766 oz. 1 dwt. silver, valued at £1,147 11s. 9d., the total value of output being £32,630 7s. 4d. The plant also treated ore for prospecting parties and others to the amount of 109 tons, which produced gold and silver to the value of £784 15s. 3d. The total yield since beginning of operations has been 21,180 oz. 3 dwt. 15 gr. bullion, valued at £34,349 os. sd. Talisman-Dubbo Gold-mines, Ltd., Karangahalce. — For the year this company was mainly engaged in opening up a new level on the northern side of Karangahake Mountain, on the horizon of the old Talisman No. 1

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