New Swastika Gold Mines

Maoriland Worker, Volume 4, Issue 139, 3 October 1913, Page 4

New Swastika Gold Mines

INVITATION Tp INVESTORS.

In this issue is published an anconcerning the New Swas-> tika Gold Mines, Ltd. The property is in the he*r| e,f thp Reefton gold belt, an area; of slate country "extending fsom the Back? water' in the south to sha Aorangi golden blocks in the nprj/J}. Jn thj's belt of slate country all the bast goLi mines on the West Coast are situated, namely:—Black water, Gbbo. . Progress, Big Biver, Welcome, Alpine, etc., all of which produced coini'der.able quantities of gold in the past, and some of them rank »;ncng thft nest valuable. min.es in Nev Z«tajau<j to-day. An mspor.ticn report by' tw« of the directors, Messrs. J. Xc- r and H. P : Hanify, CE,, is fully ty\fi\js\ it showß that tin? •.voi'Jt recpmrneniq|p<J by Mr. J. Bowie Wilson and Mr. Sidney Fry has been carried out. This report was made ast June. In. August last, after the prospecting company had put in almost «. year's Y«rt\ the property was reporrod on ly Mr. W. J. Meehan. Mr. Meonau is spiijoj: mine manager -in tho Reef'ton vas formerly raunaror pf thjj pucc«j|--t nl Globe, and Blaekwaier mines, and is at present superintendent cf $c Murray &reek and Millerton "' Company's mines. His report, which is most, favorable, :s fully quoted in the advertisem^nt ? The follflwins'nre en« or two extracts taken from hjg jfiport:—"l should class it as easily the tr'ost economically wo - ked mine in the field." "At a. rough estjniate,, in Bight, there are at least "13,00;) toils of payable >re." '!Abuudau(fe pf water power is available." "The ttone should be placed in the battery when the mine is properly developed at under 10s. per ton." Referring to Ne. 6 leef, which is frpm 1.4 to 18 feet in width, ajuj has been driven on for IJ.7* fe<#, be says, "My samples (six\ were taken from the face outwards along the; fp/yti? wall and over the full, width' "pf $is. drive. They showed 'remarkable,'Vafo*, tho average of the §ix being £6 9s. od. per ton." Placing this average akagside his concluding remarks, ft is claimed by the promoters that tlic undertaking should be among the $"l class of mine investments. ' His concluding remarks are: "I fiap confidently assure you that, properly equipped, and under capable management, an average return of sdw*. fe» the, ton would make it a profitable vwture, so favorably is the lode situated for cheap mining." A feature of the. proposition is the fact that the vendors who have spent about £3000 in developing the property, are not asking for ajiy $asb consideration whatsoever, {he people who now come into t&o Ccitnpany aro going to reap" the benefit, and the original investors must joes all that they have put jnto tsLe venture. Messrs. W. H, TurnhuU aj«jt CSp. are the Company's brokers, and aa tVr* is every probability of the Usub boinp over-suDscribed, applications fthould hsent in immediately. <