THE NEW GOLD FINDS.

Auckland Star, Volume XX, Issue 145, 20 June 1889, Page 5

THE NEW GOLD FINDS.

ENCOURAGING PROSPECTS.

A RICH ASSAY.

Very considerable interest has been aroused in Auckland and Thames mining circles by the announcement of the discovery of promising auriferous reefs at various points on the Coromandel Peninsula, between Mercury Bay and Whangapoua, e xtending almost across the peninsula between the two bays, and removed only a Comparatively short distance from the eastern sea-coasfc. The finds are at Koatuna (the principal one), Otama, and Matarangi. A representative of a Sydney mining syndicate is already on the ground watching the progress of operations, and a number of Thames miners have gone over to prospect and mark out claims. The prospects appear to be very good, although there is no foundation for the reports circulated regarding large offers having been made for interests in the locality of the finds. It is the opinion of mining experts that if the present surface show of gold continues down, the discovery will turn out to be a very good thing. Reliable information regarding the finds is given by Mr A. J. Cadman, M.H.R., who visited the localities twicerrecentl y on the last occasion beiug accompanied by Capbain Hodge. The principal find is at Koatuna, on the peninsular between Whangapoua and Mercury Bay, and is about three hours' ride from the latter place. The two most important) claims are those of Thompson and party, and a Maori named Coffin, who discovered the mine. The surface show so far is really a very good one. The reefs are large, and a peculiar feature is that there are no specimens, the gold being distributed throughout the stone. The district is very favourably situated for mining purposes. No pumping machinery would be required, while backs on the reef could be got for a height of 400 or 500 ft. with very short tunnels. There seems to be abundant water power for machinery adjacent to the mines. The two other places where claims aro being worked are also "well worth inspection by investors, prospectors, and miners. One is ab Obama, one mile from the coast, and the other is at Matarangi, about the same distance in another direction. Tho prospects of these workings are regarded as very satisfactory, although not so good as those at Koatuna. Mr Cadman has specimens of stona from all the claims at his place at Coromandel, which have excited a great deal of interest amongst miners and prospectors. No proper crushing of stone haa yet been made. About 20 tons of quartz were stacked on the Otama beach about a fortnight ago, but a very heavy sea coming in swept nearly the whole of it away last Saturday week. Thompson and party at Koatuna have arranged to have 25 tons of stuff shipped to the Thames for treatment, and the result will be awaited with the greatest interest. Jusd now the foreman of works of the County Councilis atKoatunalayingouta line of road from Mercury Bay across the peninsula to the sea coast at Otama, which will i v,ap both the Koatuna and Otama finds, and assist very materially in tho opening up of the gold-bearing localities. further news from the peninsula will be awaited by all with interest. At present wa can advise prospectors and men experienced in gold mining that they need have not the least hesitation in going down to the district and inspecting for themselves. I The Koatuna find is only three miles from the coast, and the two others are nob more than a mile from the sea. We were to-day shown pieces of stone obtained from the reef in Coffin's mine by Mr A. Smith, of Mercury Bay. The stone shows colours of gold fairly distributed through the stone, but not in patches'. Mr Smith jnforms us that the gold is to be seen in the same proportion through the reef, the latter being 4fb. in thickness. The value of the stone, he '^says, is simply a matter of conjecture ab the present time, no crushing having yet taken place. We believe that Captain Hodge of Coromandel had a picked piece of the ordinary store assayed, and it gave a return of 158 ounces of gold and 57 ounces silver, axid the general opinion amongst experts in the districts is that at the very least the ordinary stuff will give from ten to twenty ounces of gold to the ton. There is a Very large area of ground available for miners, with the same reef running through it for miles around, and every few days payable quartz is being discovered. There are now about fifty men working at Koatuna, where there are already twelve claims in operation, and Mr Smith believes that in twelve months' time there will be hundreds of men at work there. What is wanted at the present timeis machinery toallowof the treatmentof quart? on the ground. Already what may ■almoFb be termed a rush has set in to the place, which is, undoubtedly, a promising goldfield, and likely to be the centre of expensive operations in the near future.