THE NEW GOLD SAVING PROCESS.

New Zealand Herald, Volume XXII, Issue 7343, 2 June 1885, Page 5

THE NEW GOLD SAVING PROCESS.

♦ A new departure is about to be made i D goldmining. Yesterday a dozen gentlemen again met Mr. LaMonte, who owns certain American patent rights for smelting ores, and after going into the matter with care, they formed a syndicate, and at once subscribed the £10,000 required to take over the rights in this colony to the patent, and to erect a smelting furnace at the Thames. Mr. LaMonte himself is one of the syndicate, and the agreement with him is of a very favourable nature, a guarantee having been given that the furnace will work close up to an assay test in the extraction of gold and silver from tailings or ore. Mr. LaMonte is to erect and run the furnace for a time at bis own cost, and to be paid for it when results are assured. The process, if successful, as there appears every probability that it will be, means new life to the goldfields, and has already had the effect of hardening stocks, especially at Karangahake, where small silver veins are known to exist. Mr. LaMonte left for Sydney by the mail boat las'; night, but will shortly return with skilled workmen to erect the furnace at the Thames, which is to be at work in about four months' time. Already one of the companies at Karangahake, the Woodstock Company, have arranged with an Auckland capitalist, in consideration of a certain share of the mine, to erect a Water Jacket Smelting Furnace, capable of reducing 150 tons of ore per week, and this is to be at work within six months.