THE WAIHI MINE.

Gisborne Times, Volume XXIX, Issue 3148, 18 February 1911, Page 2

THE WAIHI MINE.

RESULTS OF EXPERTS INSPECTION- _ . r , LPEE PRESS ASSOCIATION.! ANCKLAND, Feb. 17. Captain Richards lias cabled to the London office of the-Waihi Company the results of his inspection of the Waihi mine.. He states that the- work being done compares favorably with good mining and milling practice elsewhere. ITe confirms the necessity to reduce the output. Ho is convinced that the directors may rely on tihe official statement of ore reserves. He is of opinion that the price, of shares lias for several years been largely in access of' the actual value, based on the ore reserve figures published annually. The ore diminishes in value with depth more slowly and less than in most of the big mines. It does not show any sudden change of rate. He concludes: “Recent developments in the lower levels may* indicate the approaching end of the ore body at a depth, but it may be only that an impoverished zone is coming in ; also ,it rn a J point to a zone- of poor ore occurring between hydrogenetic and pneumatogenetic ore. I would prefer to adoptthese last two as a working hypothesis in developing the lower levels. I cannot give any opinion definitely as to the prospects at No. 1 level without more information than is available. I consider extensive explorations are necessary under the undeveloped area of the Waihi Company. I quite -agree with the proposed direction of the prospecting drives already started.