WHANGAMATA MINES.

New Zealand Herald, Volume XXV, Issue 9099, 6 July 1888, Page 5

WHANGAMATA MINES.

SPLENDID YIELD OP BULLION. Considerable sensation was experienced on 'Change yesterday afternoon by the entrance of Mr. George Fraser, of the well-known firm of George Fraser and Son, with a dozen bars of bullion, the product of a few tons of stone from the Goldwater claim, Whangamata. The show of bullion, some 4500z, is the largest yet seen in town, and it will therefore be readily inferred that the display is awakening considerable interest. The result demonstrates that Messrs. Fraser and Son have, by a long and exhaustive series of experiments, at last hit upon a process that can obtain high yields at a moderate cost for treatment. A little more than a month ago, we published the returns of a parcel of stone that the Goldwater Company of Whangamata had forwarded to the Dry Creek Smelting Works, Adelaide, and although those returns were somewhat disappointing, yet they were sufficient to show that the shareholders possessed a property of value, but that the stuff would require a somewhat less costly treatment than that in vogue at Adelaide. With this in view, the same company last week forwarded to Messrs. George Fraser and Sons 5 tons of ore, to be reduced by their process, and the result is the magnificent yield of 90oz of bullion per ton, or somewhat over 75 per cent, of the assay value ; at about one-half the cost of what the actual charges at Dry Creek were, exclusive of something like 22s to 23s per ton for transit hence to Adelaide. The following is Messrs. Frasers' yield :— GOLDWATER COMPANY (WHANGAMATA). Bulk assay per ton of 22401bs = 114oz Odwt 3gr of bullion, divided as follows :■— Gold, loz sdwt 20gr, at £-1 per ounce ..£534 Silver, 112oz 14dwt 7gr, at 3s Cd per ounce 19 14 6

£24 17 10 Net yield from five tons = 4500z, or an average of of 90oz bullion per ten., viz: Gold, loz ldwt 12gr, £4 .. „ ..£460 Silver, S7oz 2dwt 12gr„ 33 6d.. _ .. 15 5 0 Net value per ton .. ~ .. ..£l9 11 0 The bullion is on view at the office of the secretary, Mr. D. G. MacDonnell, Stock Exchange, where it will remain for a short time. The excellent yield obtained will no doubt greatly encourage mining in the district.