KAURI MINING CORPORATION

New Zealand Herald, Volume XXXII, Issue 10013, 27 December 1895, Page 4

KAURI MINING CORPORATION

The announcement made in the Herald on Monday last, that the extensive tracts of freehold land in the Thames and Corcmandel gold mining districts were to be opened for mining operations, has given much satisfaction in this community, and indeed throughout the colony. Our readers in Endand will see the reasons for this by a "hrief explanation These lands are situated lit the best portions of the goldti.dris district, ani, they have become by the progress of the goldlield, more and more i closely surrounded by actual workings. At several places indeed on 'these blocks valuable reefs have been discovered, andl mining has been begun But the Kauri Timber Company formed for the puiposa of cutting and' working the timber, could not conveniently deal with goldfields aflairs, and therefore mining could not be carried on as quartz mining must lie carried on if it is to be successful. Systematic operations could scarcely be commenced, and there has not been much oven of systematic prospecting. Hut in this respect there will be an entire change, Hie new company's business will be to develop the auriferous wealth of these extensive blocks, and as the lands are freehold, there will be no hindrance or impediment whatever. Prospecting will be aided in every possible way, and those who are fortunate enough to mako discoveries of value will certainly reap an immediate and adequate reward. In another respect, also, the announcement is seen to be of much importance. The difficulty has been hitherto to find capital for the development of out mines. When a discovery was made at the Thames or Coronmndel, which are entirely quartz-reeling districts, any claim had to be dealt with in Auckland by the sale of promoters' shares, and then an effort was made to obtain in London the capital necessary for erecting the machinery and opening out the mine. This infallibly meant delay, and there was considerable risk that the mines might not be dealt with in London on their merits. With regard, however, to the present enterprise, it is understood that when a _ discovery has been made it will bo tested at once, and if seen to be good, the capital will be forthcoming for its development. The Government have placed no impediments in the way of this great enterprise, and we are sure that whatever Ministry may be in power they will see that it is greatly to the interest of the colony to aid its free and energetic working in every way. The blocks owned by tho new company aggregate _ about 36,000 acres, and at present it may be said that they are surrounded by gold workings, They are undoubtedly of great value. The largest block is situated between the Tokatea at Coronmndel and Kuaotunu, while there are other blocks at the back of the Thames goldlield and at Tairua. Our goldfields have lately felt the influence of the "slump" which has taken place in London, but the formation of this company will no doubt tend to a revival all over. Discoveties of gold have been made on the blocks which have'passed into the control of the new company,and as soon as mining arrangements can be made these will be made known. The most confident anticipations arc felt by all who know our goldfields that the company will be most successful in every respect.