A TRIP TO THE WAIKAEA

Otago Witness, Issue 2436, 21 November 1900, Page 20

A TRIP TO THE WAIKAEA

DISTRICT. (From a Cokkbspondext.) As an investment field, Waikaka and the other districts round and about Gore are bound) to command attention when the people -with money ■begin to realise the wonderful value of the auriferous "deposits. ~ Having recently visited j the district, and seen for myself, I append below a few particulars regarding the Waikaka. Much more could be said, tmt il these notes have the effect of causing investors tc visit the place themselves little more will be needed. At present there are about nine dredges working on the Waikaka, and of those four have been at ■work for some considerable time, and the others are just started. The four old dredges are — Kecord Reign, Perry b, Ibbotsons. and M'Gill's. They -are all inexpensive, small dredges, costing, say, ;£2900, yet these machines have aver- j aged about 15oz per week, and paid their owners , handsomely. I Starting at the top of the Little Waikaka Valley we have the Premier Waikaka, one of the finest dredges in Southland. This fine dredge ! lias just- been completed by Mr B. Glendinmg, [ ■who has already earned a name for himself -in j connection with fitting up dredging machinery, > _and certainly the Premier Waikaka does him ' -every credit. She i 3 in charge of Mr Robert j Trimble, and an efficient staff of -men, and has ( just made a start, but as she has to dig out I a paddock, shareholders need not expect returns of any consequence for at least a couple or weeks. From all I can gather, and judging from surface and other indications this dredge ' will get first class returns, for not only is the , dredge a splendid one, but there is every reason ' to believe that the claim is as good as the ' dredge. My reasons for saying this are many, ! but one or two will suffice. Mr Perry got such I excellent results with his little dredge just j over the hill from the Premier that he has gone j to considerable trouble and expense to rebuild ' lier on more up-to-date lines. Ibbotson and M'G-ill are getting excellent returns below the j Premier, whilst on the hill, which lies across ' the other side from Perry's, splendid gold has J been got, and Chinamen got splendid gold on ! itre upper end of the claim. Again, right aeioss j from the claim is a hill called Sandy Knowes, ! which is A. VERITABLE MOUNT MORGAN". I say this advisedly and deliberately, and anyone who is sceptical can easily go up there ! .and -see whether what J say is true or not. . Here we have a whole hill of solid wash, carrying highly payable gold iiom the tussock tit ~ the bottom, and you can pan "off nearly TWO GRAINS TO THE DISH. This we did ourselves in moie places than one. It is only- the absence of sufficient water that has prevented this hill tfiom being worked. It ia the property of Mr James Paterson, and a very valuable piece of property it is. Running through this and right across the Pien.ier Waikaka to Perry's claim are what is known as rice beds — deposits of white quartz wash carry-

ing very rich gold, and wherever men have been able to work those beds the returns have been liigbly satisfactory, and in many cases phehorninally xich. When Aye visited Waikaka. the Premier dredge, although only opening out : had just touched the edge of one of those beds, and we had the satisfaction of seeing some splendid wash coming up in her buckets. Kext to the Premier Waikaka, as 3'ou go down the Valley, are Ibbotsons on one side and M'G-ilFs on the other, two nice little dredges, fcut very small. As I said before they have averaged at least 18oz, and paid their enterprising owners well. The Globe eornes next, and is just starting. I did not manage to get aboard of her. Next we come to the Waikaka United, a semi private company, whose dredge has been working about a couple of months. It is difficult to get at the returns in cases of this sort, but I am able to tell your readers that this dredge has obtained first class returns, having gone between 30oz and 40oa in a week, and I am of opinion that good and all as her returns | have been she would do nmch' better if the. ; ground 'was worked in a face. This company i has a most capable man in the person of Mr W. I Wilson, one of the ablest dredgemasters in Otago. I am afraid some of the directors are not aware that they have such a man. He is | actually so attentive to his work that he lives I and 'sleeps on the dredge timid the dm and j bustle, and if the directors have the good sense i to give him a free hand this dredge will get | 50.0z. j The Waikaka Queen is the next claim. A good deal of dolaj r has taken place here owing to the company having to rearrange the machineiy, but in the hands of Mr Man and the : engineer this work will soon be satisfactorily ; completed, and the dredge should start in about i a week. She is said to have excellent ground, and should give a good accoxmt of lieiseli when she gets fairly into it. We nest come to the Waikaka Forks, -which., so far, has done no good. I am informed on good authority, however, that the ground is getting milch better, and that when she gets up into the fiat it will be very gro_d. This dredge, however, is a mere toy, and it is a pity a good claim should have such a dredge, lfor the Forks is without doubt a good property. Passing up again to the top of the Big Waikaka we find Mr Perry's dredge in course of : reconstruction. This dredge, as everybody knows, has had a splendid run of gold all along, and the prospects must be good to induce Mr 1 Perry to go to the expense of lebuilding. Just ! bslow Perry's is the Celtic, also in course of | construction, and lower down is the Record ! Reign, another very small dredge. Judging by 1 the ground turned ovei this dredge must have . paid her owners although it has generally been I supposed that her returns were not very large. I Further down the Valley wo come to Paterson's Freehold Company, another semi-private company. AVork has been going on here for four months, and very satisfactory work too. ' The very first week this dredge started she got over 20oZj and the dredge, which is an excelI lent one, has gone without a hitch from the 1 start. This company has enough ground to ; employ five dredges, and the capital is £12,000, j of which, however, only half is called up. I ; am not at liberty to tell all I know concerning • the returns, but the public will gather some | idea of the gold won when I state that a dividend of Is per share hns already been paid to ; the shareholders. This, like the United, is | likely to develop into a very large concern. 1 MrJ. M. Walker, a well known and expeiienccd ; dredgemaster, is in charge, and Mr James Paterj son ia managing director. j Following the valley downwards we come to the Glen-iti, the old Endeavour dredge, which has been at work about a month. I -was not able to visit this dredge, but I learn from a re- | liable source that she has 30ft of splendid wash, , and if good returns are not forthcoming it will b? the fault of the dredge and not the claim. I understand the dredgemaster says that an up-to-date dredge will get from 50oz upon this ground, and os the company has ioorn for several other dredges this is veiy cheering for fcliDieholders. There are nc dredges working below this, but between this claim and the junction of the Waikaka streams is a fine stretch of property called TuriibuH's freehold. Thin uropeity has been bored and tested, and j splendid prospects obtained. Part of it has ' been floated, and it is called tho Waikaka and,

Junction Waikaka, and the balance is to be floated shortly. Below the junction. Nicliol and party are xperectmg the Woolshed No. 2, and it is said they have good prospects. Lowei down are several good properties — notably, Sheddan's, which has been privately subscribed. The ground is said to be very rich. Altogether the Waikaka Valley is perhaps the most remarkable gold bearing district in Otago, for the gold is distributed uniformly through the wash, and the whole valley is auriferous, whilst the hills are also huge deposits of highly payable gold-bearing wa^h. To those who have not seen the district my description may appear rose-coloured, but I am prepared to stand by every word I have said, and it will well repay people who want a good, safe investment, as safe as there is in the world, to go down and see for themselves during the coming holidays the auriferous deposits of the Golden South. Whil&t writing' thtic concerning" Waikaka I wish it to be understood that this is not the only country of this chaiacter near Gore, for there are also Charlton and Waimumu districts, and a large portion of the Mataura. itself. In fact, Goie is the centre of a great stretch of auriferous country, which will for years to come annually yield large returns oi gold, and be a splendid yield for genuine investment. This will never be ths sensational speculative field we have had on the Molyneux, but for genuine investment and good steady returns it will last for many long yeais, and once attention is directed to that locality there is little doubt that the investing public, who want good interest for their money combined with as much security ab anything in gold mining is capable of, will unbutton their pockets in favour of Waikaka stock.