THE Inangahua Times. PUBLISHED TRI-WEEKLY. WEDNESDAY, SEPT. 8, 1880.

Inangahua Times, Volume II, 8 September 1880, Page 2

THE Inangahua Times. PU BLISHED TRI-WEEKLY. WEDNESDAY, SEPT. 8, 1880.

We have been favored by a gentleman in EepftjpQ with a copy of the halfyearly report and balance-sheet of the Port Phillip and Clunes Quartz Mining Company, (Victoria.), presented to the shareholders on the 26tl< July last. The information }t furnishes regarding tbe half year's operations is not very full, but it will no doubt be read with interest here, if only for the comparison to be drawn. The total quantity of quartz raised by tbe com» panv from May, 1857, to June last, was 1,138.792 tons, which yielded 469,7420z, of tbe value of £1,879,788 The quantity of stone crushed every four weeks ranged from 3671 to 4025 tons, 22 690 tons baying been treated during tbe six months, which produced 67780z 13dwt 12gr, or an ayerage of 6dwt per ton, being lOgr per ton higher than tbe average of the preceding six mouths. Small as the return appears, it enabled the company to divide £3,000, Resides disbursing £651 in the purchase of additional machinery. The mining manager in his report says :— The sinking in the north shaft was continued to the required depth for No. 13, or the 1190fl. level, when the opening sets and guides were put in. No driving has been done at this level as yet, but all is in readiness, and it can be com* inenced at any time when it is deemed advisable. Total depth, 1193 feet 6 inches. No. 12, or 1090 ft level. -No work has been done at this level during tbe past six months. No. 1 1 or 990 ft level.— Tbe new make of stone 195 ft east of shaft has b/?en extended a further distance of 114 feet ; total from the north crosscut, 42s feet, The vein will average about 4ft in width, but is not payable. A crosscut has been commenced at this point to go west towards the south B baft. nnd is in a distance of 40ft, estimated distance drive 220 feet from the vein. Thia drive will also intersect the line of the East Branch' of Robinson's nnd the Xew Eastern veins in this part of the m ; ne —West Side of Shaft.— "Western Vein —The drive going north of the crosscut has been driven to the north boundary ; gtone payable. About SO feet north of Hie main cross-cut, where the tribute party left the lode, we have commenced to cut through it, stone looking fair, and is well charged with pyrites. The south end has been extended a further distance of 137 feet, total 250 feet, and has b?en holed to tbe win,ze> that was sunk from the level above. The lode at this point is very wide aDd of poor quality, but there is every indication of its beenmm? smaller, as both walls are coming in.— No. 10 or 890 feet level. — Old Man Vein — The drive going south of the crosscut has been extended a further distance of 153 feet ; total 205 feet. The quartz from this drive, as far has been opened up, is of poor quality ; but judging from the shoot of stone in the level aboye, we slioulfl get better stone shortly. — No. 9 or 790 feet level.— Old Main Vein.

—The drive going south of the north crosscut has been opened up a further distance of 220 feet, total 814 feet • the whole of the distance driven the last six month is good payable stone ; width of lodb in face of drive 4 feet and looking very well, and judging from the appearance of the stone in die No. 8 level, we may expect stone as the drive is extended further eoutb."