WAIORONGOMAI.

Auckland Star, Volume XXVII, Issue 214, 10 September 1896, Page 2

WAIORONGOMAI.

The New Zealand Exploration Company I have decided to adopts Mr Daw's scheme of operations for the development of their property ab Waiorongomai, The uniier^ taking is one of great) magnitude, and Will take some years to.accomplish the work. The estimated expenditure involved in the undertaking is something like £30,000. ' WAIHI G,M. COMPANY. Some new developments are reported from the Waihi mine. In driving on the Welcome lode towards the west the reef i appears to have divided into two distincb reefs. For some time the, Company have been r driving, as they thought, on the main reef. Bub as fchia had reduced very considerably in eize a crosßcub was pub in, with the resulb thab it' was found that a branch of the reef had been lelb on the side named. The lode where intersected by the crosscab has proved bo be aboub 18it in width, alt of which is of good payable ore, the assays ranging from 14dwt to loz of fine gold per ton. A prospecting drive has also been p«b into the hill ab the south-west boundary of the property for the purpose of intersecting the Welcome lode. . A body of quartz, supposed to be this lode, has been mes with. The cap of the reef only has been touched. There is nearly 5$ feets of quartz. The average assays from this new find are between 16dwt and tfdwt to the ton. WAITEKAURI MAGAZINE. An offer has been made to floab the Waitekauri Magazine property on the Home market on the following terms :— Capital of new company, £120,000, in £1 shares: present shareholders to receive £1,000 cash and 22,500 paid-up pharea; working capital of £20,000 to be provided ; option to be given for four calendar months from the arrival in London of the necessary documents, etc. Tho directors have accepted the offer.