LYELL MINING.

Inangahua Times, Volume VII, Issue 1087, 15 May 1882, Page 2

LYELL MINING.

(Times.) UNITED ALPINE. Friday, May 5. The half-yearly meeting of shareholders took place on Saturday last. Messrs FenneU, Cacace, Ryan, P. Butler, and M'Laughlin were eleci.ed directors for the ensuing six months,. Messrs M'Gaffin and M'Coy were appointed auditors. The past half-year's operations, though perhaps not so prosperous as the corresponding previous term are on the whole satisfactory. During the period the battery was running 1021 days, reducing 4109 tons of sione, which yielded 18550zs odwts logra of melted gold, value £7105 Is 7d. Two dividends of Gd per share were declared, e^nal to £ICOO. Although a lit le delay li;w ta'»en plaoe latterly owing to die ouii ! sealing dov.-n in one or two places in the mine, most obstacles to steady process arc now removed, and the company -should, now shortly be enjoying a division of profit. I visited the mine during ilie week, and its appearance is very salUfas'.ory. In the south end, in No. 4 le , el, v!ie reef is about 10 feet in widl.li, and ap-ifcu's i j be making as it is followed soy ;?. Aslioii time since it showed a : as of ing oni, but on what appeared to be 'ie haa^iii--wall being driven iliroo^h, ilie lode again made, and has since boon sloped smuh for over 30 feet, and appears i o widen as operations proceed. It is rising sou h, with an easterly <'v\ Mr Bhuk informs me that the greater pnrt <>f .'io s >.>iie now being sent to i.ie mill is from il N end or the mine. In the Slopes over No 5 level north the reef is about 25 feet in thickness, and gold was plainly visible in ilie face. Here the manager is carrying a rise towards No. 4 level, in order io eflect direct communication bciween the two levels. About SO feet v ill coiiiicct, with the lower intermediate level, SO feet having already been risen. This work will be pushed ahead as fast as possible, as at present, excepting when water is plentiful, the air is wery bad, there being no connection here sufficient to give a draft between Nos. 4 and 5 levels. Tiie mine is now in very fair order, aliliouj h until the rise from No. 5 level towards the surface is finished, filling-in the .lower workings will continue to be a monotonous task, as great difficulty is experienced in getting down mullock. Mr M:vsou, Uie contractor for construction of sKoot and paddock between No. 4 luvel and the No. 5 level flat tramway, is lcu r iig contracts for the supply of limber, aiid will will .is little delay as possible push ahead t iio job. The contract f<>r extension of No. 0 level is steadily advancing towards completion, being now in about 280 feet. The driving again is somewhat hard, the small reef which was mot wilhhavnigbeen passed. The stone was followed for about 25 feet, during which ihe hands had a " patch " in ihe shape of much easier country than was driven ihroiif,li iv any previous part of the coutvacb. The usual monthly cleaning at the battery will take place to-morrow, when a much improved return is expected.