MINING NEWS

Inangahua Times, Volume VII, Issue 1075, 17 April 1882, Page 2

MINING NEWS

. ■'■• THE WEEK. [From our Mnnim Reporter.] Saturday, April 15. The week opened rather actively, the excellent yields from the Welcome and Keep-it-Dark having given a rather strong bent to the market, and several rather large transactions were effected, the Dunedin brokers being again well into the business. On Tuesday last newß circulated of the discovery of a v^ry promising reef m the Wealth trf Nationr Extended Company's ground ; immediately that this report was confirmed a brisk demand set in for the long neglected shares of the Company. Later ntfws.showß that the importance of the find has not at all been overstated, and it is now believed thst the stone is a continuation of the Keep-it-Dark reef. The quarts has a strong resemblance to the Park stone, both in color and the &•* tribution of the gold, and th« fact that BMh>-a itrong body of gold-Searing stone has "been found in the looah'ty has given new value to the grouTO adjoining, and several new leases have been applied for along the line. The area of ground held by the Wealth Extended is very large, and the discovery therefore opens up a good future for the Company. The arrival of a large portion of the diamond drill machinery for the Golden Fleece Extended Company, as well as the arrival from -Melbourne of Mr Treanery, the manager, is a good guarantee that no time will now be lost in getting the plant 6ti* to the ground and fixed in position. The starting of the machinery will be a red-letter day for the Inangahua, and should the boring achieve the results expected, and of which hardly a shadow of doubt is entertained, mining affairs will take a new departure, and the Inangahua will live its best days over again. There has been little fresh from the Golden Point district for some time past, the majority of the leaseholders in that locality holding back for the starting of

the Golden Point battery, which is expected to be in readiness for crushing by August next, and as the company's stone is payable beyond doubt, the event will prove of great consequence to that part of the district. Taken altogether the prospects of the field are of the brightest order, and point with considerable certainty to a prosperous winter. The following are the returns for the past week : — Wslcomb— Bl6ozs, amalgam, from 90 tons of stone. Kbkp-it-Dark — 4840zb. lldwts. of amalgam, from 190 tons of stone. United Alfins (Lyell) — 2240a5, of amalgam, from 140 tons of stone. Owing to pressure on our space, we are compelled to hold over our usual mining; report until next issue. *