THE NEW ZEALAND KAPANGA G.M. Co., LIMITED.

Daily Southern Cross, Volume XXXII, Issue 5288, 23 September 1876, Page 6

THE NEW ZEALAND KAPANGA G.M. Co., LIMITED.

The first gold found in New Zealand, and mined w ith system to any depth, was found and worked on this claim in 1851. After wards numerous claims were taken np, and a rash of Australian miners followed, who traced the reefs containing rich gold undci the bed of the Driving Creel", untd the assistance of steam machinery became indispensable to carry on the various mining operations commenced. With this view, the Jate Kapanga Company, an Auckland proprietory, purchased various- -the richest known properties then discovered, and erected some good steam machinery, which tested the reefs to a depth of 320ft. from the surface and some 800ft. on the line of reefs. It appears the reefs at all times yielded regular returns for yeare, and paid good dividends until 1869, when the creek water broke into some surface excavations that swamped the mine and overpowered the machinery, compelling the company to temporarily suspend operations until more powerful machinery was imported from England. The amount of gold obtained from the mine (by the different proprietors) is estimated to value over £100,000 to this time. Whilst the late company were waiting for machinery ordered from England, the Thames Goldficld broke out in surh splendour, and tbeattention of the company was directed to the new field, neglecting tho riches that lay under wate? ai Kapanga. The property remaining unworl .' d for three y^ars, requiring a large capital roi the future testing and working of the mine, perhaps a larger sum than can some times be easily found here. The ground being open for occupation, the present English company secured the claim, and commenced mining operations on an extensive scale iu January, 1872. To carry out these great and expensive operations was to undertake a work of years, requiring a large capital to see it through, to reach the subterranean riches left by the late company. Since the resumption of work by the English company, steam pumping, winding, and crushing machinery of great power, ha*, been imported from England, and erected on the claim, and is estimated of sufficient power to develop the reefs 1,000ft. in depth. A new and large engine shaft has also been sunk to a depth of 300ft., and a tunnel at that depth driven 400ft. , which comes in contact with the reef beneath the position of the workings of the late company, thus enabling the drainage of all the former excavations to be effectively drained for working the ground dry. It is very gratifying to learn that during the past few weeks, those extensive mining operations were brought to a very successful issue. After a toil and steady perseverance of four and a half years, at an estimated expenditure of £50,000 of English capital— the company being incorporated in England, where the shares are also held— it shows the faith and patience of English investors in waiting so long to prove a mining speculation at the antipodes. We are informed, the reef is found in the bottom of the mine, going down regularly, from three to four feet wide, showing gold freely, yielding spendid specimens, and good average crushing dirt. After a few months, room will be made for employing a number of men, when there is every prospect of the Kapanga mine once more becoming one of our best dividend mines. It is a matter of great and serious importance to our goldfields, more especially to Coromandel, to find the quartz reefs attaining depth with regularity and containing rich gold. There is every reason to hope the success of this company may be the means of inducing other wealthy Knglish companies to secure some of our many rich and neglected mines throughout our extensive goldfields.