Page 1 Advertisements Column 6

Otago Daily Times, Issue 8597, 12 September 1889, Page 1

Prospectus known as " Tucker's," containing 58 acres 3 roods 18 poles, held under a 21 years' lease at au annual rental of £7 7s 6d, situated about 2$ miles from Port Pegasus, Stewart Island, Otago, N.Z,; also the several water rights held by the original ownera. SAMPLES AND ASSAYS. In the first instance a sample very roughly dressed was forwarded to the manager (Mr H. W. F. Kayaer) of the Mount BisobofC Tin Mine Company,- Tasmania, Mr Kayser reported from 50 to 55 % Tin. Subsequently samples were forwarded to Mr S. S. Vale, mining Inspector and consulting smelter, Sydney, also to Mr J. M. Potter, zn&nager Brothers Home No. I Tin Mining Company, Derby, Tasmania, and to Mr W. Skey, Government Geologist, Wellington, with the following results :— Assay received from Mr S. S. Vale: " Asßay Office, 42 Caßtlereagh street, Sydney. " Description—Stream Tin, 69 % Metallio Tin. (Signed) "S.S. Valb, Assayer." Mr J.M. Potter writes :- " Brothers Home No. 1 Tin Mining Company, " Derby, Tasmania, 28fch June 1889. " G. A. Birch, Esq., Invercargill. "Dear Sir,—The samples of Tin Ore sent by you for assay from,application 50, known as Tucker's Block, Port Pegasus, Stewart Island, came safely to hand. " Sample No. 1 assayed 68-s '/. Metallic Tin. ~ 2 „ 70-6% " Average of samples, 69$ %. " There was a percentage of magnetic Iron in sample No. 1, and a nice spec of water-worn cold in No. 2. (Signed) "J. M. Fottbb, " Mine Manager." In a letter accompanying the above assay Mr Potter writes:— . ''. : " I beg to acknowledge receipt of two samples of Tin Ore from Stewart Island. As requested I made a very careful assay of the two samples. I wired you the average was 69 %. The result must be highly satisfactory to you, and the ground, judging from prospects obtained, should pay well with a good supply of water. " It affords me great pleasure to find that Mr Oonli£fe has gained the confidence and esteem of the leading citizens of Invercargill, as I have known him for some time, and have always found him straight and of unimpeachable integrity. (Signed) "J. M. Potter." Mr W. Skey forwarded the following analysis :— "New Zealand Geological Survey Laboratory. " Result of analysis No. 8322. " Locality—Port Pegasus, Stewart Island. "Received—July 1889. " Reported on—lSth July 1889. .'• ALLUVIAL TIN SAND. " The percentage of Oassiterite (oxide of tin) is 8084. (Signed) "W. Sket, " Mines Department, 17th July 1889." The following extract taken from a letter written by Mr J. M. Potter to the editor of the Southland Daily News,under date: Tasmania,2oth June 1889, and appearing in the issue of the Southland Daily News of Bth July 1889, will show the monetary value of the above assays:— , .... " It may interest many of your readers to know that the value of Tin Ore is estimated at per 'unit,' by which is meant the percentage of metallio tin contained in such ore. For instance, if a person had one ton of Stream Tin and it asßayed 70 %, it would mean it contains 70 units. The present unit price here 1b 15s 6d, and ore containing 70 units is therefore worth £54 6s per ton, or about 6Jd per lb. Hence you will see that the value of lib of ore depends upon its assay value and the price per unit." PROSPECTING. The owners were fortunate in obtaining the services of Mr A. E. Conliffe, a gentleman who has had extensive experience on the Tasmanian Tin Fields, and who was highly recommended to them. Mr Conliffe haß been engaged with a Btaff oi men for the laßt five months in thoroughly prospecting and testing the Claim. Nine shaft*, varying in depth from Bft to 20ft have been sunk, and in every instance highly payable wash has been obtained, in some cases 18ft deep. A face 114 ft in length has been opened out, from which, with a very primitive sluice and the Email quantity of water immediately available, three men in a tew hours obtained over 1001b weight of Tin Ore assaying 691%. This in itself thoroughly proves the value of tne Claim. Mr Conliffe states that over 30 acres of the lower part of the Claim there is at least an average depth of Bft of Tinbearing Washdirt, showing a prospect of from loz to lib weight of Tin Ore per dish. As the upper portion of the Claim :is reached and the face washed away, from the results already obtained, there is every prospect of unearthing a rich vein of Tinbearing Stone. WATER RIGHTS. The owners have the right to six heads of water: the Water Race has been surveyed in by Mr Conliffe and certified to by Mr Dundas, 0.E., and will not exceed three miles in length. The levels show that the race can be brought in and allow of about 200 ft fall for pressure at the mine—amply sufficient for hydraulic sluicing on an extensive scale. , WATER STORAGE. A piece of land five acres In extent has been applied for and obtained ia the most caovenieut position to erect a dam, so as to ensure a constant supply of water during the dry season. The cost of erecting the dam, constructing the water race, and putting the mine in thorough working order is not expected to exceed £3000. REPORTS. ...-.'.. Mr Conliffe reports as follows :— " Section No. 50, known as' Tucker's.' "This ground, which is about 60 acres in extent, has been tested in a most exhaustive manner, three faces having been opened and nine shafts sunk, exposing wash In Borne placeß 18ft deep carrying tin ore in highly payable quantities. The right to an abundant supply of water has been secured, which water will be available for working the claim in the most extensive and remunerative mnnner on the hydraulic system of sluicing. " The situation of the ground is all that could be desired for this- mode of working, as in addition to its excellent situation with regard to fall from head race, there is also a good fall available for tailings, " The ore when dresaed has only to be conveyed some two and a-imlf miles to Fort Pegasus, a harbour available in all weathers for ships of .the largest tonnage. In addition to its great value as an alluvial claim, there is every indication from the prospeots already obtained that a rich lode will be found on the ground, which is certain to be Exposed as the ordinary working by sluicing is carried on. (Signed) "A. Ebenezbr Conliffe, " Mining Expert." Mr O. E. Hilby, a Tasmanian Tin Miner, writes:— ■ " I have much pleasure as an expert in testifying to the good and payable character of claim No. 60, the riohness and depth of the wash and the natural facilities for ground sluicing on an extensive scale being such that with systematic working it ought to pay a large dividend. (Signed) "CE.Rn.Br. " Pegasus, 20th July 1889. Mr John Dwyer, also a Tasmanian Tin Miner, reports :— " To the Chairman Tucker's Syndicate. "Dear Sir,—l beg to report that knowing well the position and formation of claim No. 50,1 have no hesitation in saying that from the very favourable indications shown during proßpectlng, the greater part of which took place under my own observation, the mine, if worked with * ordinary economy, will pay good dividends from the stream: tin alone, the working of which ia almost sure to disclOße the very rich lode that must exist in the vicinity, the presence of which is unmistakably shown by the rioh tin-impregnated stone found in the present workings amongst the alluvial tin, and which bears traoes of little or no travelling. : (Signed) " John Dwyer." GENERAL REMARKS. Mr Conliffe found a good specimen of tin-bearing rock in the claim. From.7oz crushed, 2Joz of tin ore waa obtained. The presence of this and many other apecimens without any indications of having travelled far prove without a doubt the immediate vicinity of a valuable stratum of rich ore. Tasmanian tin miners who have visited the claim assert that it resembles the celebrated Mount Biachoff claim. Mount Bischoff (although only half the size of Tucker's) has paid since it started in 1873 dividends amounting to £982,500 sterling, and last year the dividends amounted to £78,000, equal to 263 per cent, on the paid-up capital of £29,600. — Vide "The Australian Insurance and Banking Record." From the great care that lias been taken in proving " Tucker's " claim, the Provisional Directors have every confidence iv recommeuding the scheme as a thoroughly legitimate one for investment, offering as it does every probability of early dividends from the atream tin, together with every prospect of a rich vein of tin-bearing Btone being found as the work of sluicing progreaaes. AGREEMENTS. The only contract entered into on behalf of the Company ia a contraot, dated 19th August 1889, between George Edward Tucker, the holder of the lease, water lights, and dam area, on behalf of himself and other owners, on the one part, and W. Y. H. Hall, as trustee on behalf of the Company, on the other "part, and may be seen at the Company's Offices, and is for the absolute sale to the Company of the above leasehold, water rights, and dam area. The SHARE LIST will CLOSE on or before 28th SEPTEMBER 1889. As a large number of Shares have been privately applied for, immediate application ia necessary. Iv the eveut of the capital being over-subscribed, a pro Tata distribution will be made, except in casea where allotment in full has been promised. No application for le3S than 25 Shares will be received by the Brokers of the Company. Any further application may be obtained from the Brokers and Secretary of the Company, from whom also copies of the Prospectus can be secured. 30au MOET and CHANDON'S Dry Imperial Champagne. 1884 vintage. M NO more dirty smoke. SHAG POINT COAL is the cleanest household coal obtainable^ I__ CATTO'S OLD HIGHLAND WHISKY is the Oldeßt and Best to be had. Full-sized Bottles. 16au M'LEOD BROTHERS' (LIMITED) LA.UNDRINE SOAP is the beßt value in the market for all household requirements. 24au NURSERY STOCK ~at~Nursery Prices; Forest and Ornamental ; hardy, stout, and well rooted.—Niramo and Blaii'. Bau MONTAGUE'S Great Slaughter Sale acknowledged to be a Success. Don't mias this chanoe of picking up bargains in all departments Look at our show. 16»u nnHE FAKMERS' PAPER.—The AgriculJL tnral Department of the Otago Witness li icJmowlcdgod to be unequalled by thxt of way other Weekly In the Colony.