Page 12 Advertisements Column 2

Lyttelton Times, Volume CXV, Issue 16549, 13 May 1914, Page 12

Capita!: £119,080 in 226,900 tees of 10L each 110,000 of these shares are issued fully paid to the present owners of the property. Tho vendors do not receive any cash as part payment of tho property. 110,000 shares are offered for public subscription on tho following terms: 1/- per share on application; 1/- per share on allotment; balance in calls of not more than 1/- per share, and at intervals of not less than two months. DIRECTORS: ALPHONSUS TEMPEST, Settler, Auckland. ARCH. A. DONALD, Grain Merchant, Auckland. DAVID WHYTE, Broker, Hastings. Other two Directors will bo selected by the above threo. Tho above Directors will hold office till the Annual General Meeting of the Company to bo hold in 1915. RANKERS: Tho National Bank of New Zealand, Limited. SOLICITORS: Messrs. Devore, Martin and Prendergast, Auckland. SECRETARY: J. B. Sheath, Imperial Buildings, Queen Street, Auckland. BROKER: David "Whyte, Hastings, Hawke’s Bay. The objects of the Company are to ncquiro from the Silverstream RHiea, Limited, all its mining properties, machinery ; plant and chattels. (1) Silverstream Quartz Chum. (2) Advance Quartz Claim. (3) Water Races. (4) Special Sites (Machine Sites). (5) Special Sites (Battery Sites). BATTERY: Tho vendors also hold an option to purchase the late Wait.'Xiuri Extended Company’s battery, at present erected on the vendors' Sroperty, at a nominal figure (£1100), which will effect a saving to this ompany of approximately £BOOO. SITUATION: The properties are situated in the Ohinomuri District, nine miles west of Hikutaiu Railway Station on tho Thames-Paeroa Railway. Hauraki Peninsula, near Auckland. Access to the properties is by a good dray road, metalled, and having an easy grade. THE REEFS: There are four reefs, proved by mining on the property, and comprise two classes, viz.; (1) Silver Tclluride (Hessite) and gold; (2) Silver Sulphide and gold. Tho principal reefs are known as tho “ Queen ” and ‘'Julia” (Silver Tclluride and gold), 7 feot 6 inches wide, and yielding ore worth £ll4 per ton downwards, and tho “Camoola” reef (Silver Sulphidp and gold), 30 feet wide and out-cropping in both properties, and which Mr. E. F. Adams, M.A.1.M.E., says “ gives special promise in the making of a big mine.” DEVELOPMENT: Tho vendors have proved the ore by driving in at a low level and bulk-sampling. Tho reefs also show out on the surface. From 200 to 500 foot depth of tho reefs can be won by gravitation. The new Company proposes to further develop so as to establish positive oro reserves, and thereafter to proceed with the usual mining operations. As the reefs are now well exposed and chewing good values, a large portion of the development to be proceeded with will consist of taking out the ore from the reefs. No sinking is required to carry out tho present scheme of development, tho haulage and drainage being by gravitation. When rises are made through the reefs to tho outcrops,. the ventilation will he by natural draught. Ileavj initial outlay in expulsive haulage, pumping, and ventilating plant is thus rendered unnecessary. This applies to all the reefß. UNIQUE NATURE OF THE ORE: In no other part of New Zealand does ore of tho nature of and in the form of tho “ Queen ” and “ Julia ” oro exist, as Mr. E. F. Adams reports:— “ Hessite is well known on this peninsula in various mines, but In no other Instance as a considerable deposit or as In Intimate mixture with the reef matrix.” "From the data at my hand, by the most eminent authorities on ore deposits covering the world’s mines Hasslto is quoted as a mineral that has been mined to great depths In many mines.” VALUES OF ORE DEPOSITS: Mr. Adams' report says:—“Using £4 per oz. for gold and 2s. 3d. per oz. for silver as the figures of market value, the ore of the Silver Queen pay chute, runs in value from £ll4 per ton downwards. The bonanza or specimen oro mot with in mining on Silver Queen and Julia reefs carries as high as 1000 ounces of silver to the ton.” “I estimate that a total tonnage of 800 long tons has been broken from the Silver Queen stopes. Of this 800 tons about 170 tons remain in the stopes and 630 tons nave been shipped and paddocked, and give an average gross oro value off £3 16s. par ton.” ESTIMATED PRO-FITS: (Mr. Adams’ report) “ Allowing for the slimesand leases in concentration, losses in cyanidmg, mines stoping and handling and mill costs, the profit In ore of this value treated as Just dasorltsed would be £ t 153. per ton." These values are worked for silver at 2s. 3d. por oz. . . . ‘ With silver at 2s. 6d. per oz., tho milting profit would rise from £1 15s. to £2 per ton.’ ” STRIKING FEATURES IN THE REEFS: (Mr. Adams' report) “Tho most striking feature in tho reefs of this property is the abundance of Manganese, in the form of Pyrolusite, contained in' them for some depth below the outcrops. The reefs are, in fact ; highly manganiferous near the surface, and have been for the most part subject to acid solutions dow r n to and below the depth of present mining. The exceptions are those portions of the roefs oarrying primary ore rich in silver.” • “ Broadly speaking it is quite evident that deeper working will produce more extensive blocks of pay ore and also that the bullion at certain levels will be found higher in gold.” “ Further, the experience is that at a lower level tho primary ore is not disturbed, being enhanced in value by values deposited from the teachings of the upper portions of the reefs.” INSPECTION OF MINES: Arrangements have been made whereby groups of intending subscribers can inspect the mine. Applications should be made to the Secretary. CASH REQUIRED: The cash required during tho proposed stage of development is £6OOO. The balance of the capital will be held in reservo for future expansion if required. CLOSING OF SHARE LIST: To enable the work at tho mines to bo proceeded with without delay, the share list will be closed on Saturday, 30th May, 1914, at which date tho Directors will proceed to allotment. ILLUSTRATIONS: Full-page illustrations connected with this mine will appear in tho “Auckland Weekly New's” and the “Weekly Press” of date 13th May, 1914.” REPORTS, ETC.: Prospectus containing full details about the proposed Company, and exhaustive Reports about the Mine, assays, bulk tests, etc., together with photographs of the Company’s properties, and a map of the reefs and proposed development; also Forms of Application for Shares, can be obtained from the Secretary, Broker, or at any branch of tho National Bank of New Zealand, Limited. DAVID WHYTE, Broker of tho Ohinemuri Gold and Silver Mines, Ltd., Queen Street, Hastings, Hawke’s Bay,

NOBODY KNOWS. Without a visit you cannot tell wliat bargains there are waiting for you at Min son’s Sale. If you have a. lioino to keep up you will savo a lot by watching this sale carefully. 1898