NOKOMAI SLUICING COMPANY

Otago Witness, Issue 3768, 1 June 1926, Page 52

NOKOMAI SLUICING COMPANY

An extraordinary general meeting of the Nokomai Hydraulic Sluicing Com pun 7 (Ltd.) was held on Friday at the office of tne company. Stafford street, for the purpose of confirming as a special resolution the subjoined resolutions passed at an extraordinary general meeting of the com pany held on May 11. The rescinding of the resolution of the company passed on December 3, 1925. authorising the liquidator of the company to sell all the assets of this company for 16,000 fully paid up shares in a new company having a capital of £50,000 divided into 50,000 shares of £1 each, of which 30(H) fully paid up shares (more or less) shall be allotted to the party paying for the boring and 31.000 contributing shares shall be issued to subscribers, the present share holders to have preference in application for 16.000 of the contributing shares out of which the debts of this company (estimated amount £4000) shall be paid. That the liquidator be, and he is. hereby authorised to sell all the assets of the Nokomai Hydraulic Sluicing Company. Limited, by shares to be registered under the name of “The Nokomai Sluicing Company, Limited,” with a nominal capital of £25,000, consisting of 8000 shares of £1 each, to be issued as fully paid up, to be allotted pro rate according their holdings to the shareholders of the Nokomai Hydraulic Sluicing Company. Limited, and 2160 full paid-up shares shall be allotted to the party paying for the boring. The remaining 14,840 to be ordinary contributing shares of £1 each to be allotted to subscribers therefor, and that the Nokomai Sluicing Company. Limited, pay all debts and discharge all the liabilities of the Nokomai Hydraulic Sluicing Company, ‘ Limited, including all the expenditure in extending the No. 1 water race and the cost of the winding up of the latter com pany and the liquidator’s expenses, and that the allotment of these contributing shares preference be given to the application therefor from applicants who are shareholders in the Nokomai Hydraulic Sluicing Company, Limited.” The chair was occupied by Mr 11. K. Wilkinson. On the motion of Mr J. A. Roche, seconded by Mr F. Y. Milnes, the resolutions were confirmed. Messrs Moodie and Smith were appointed auditors. The following is a report by Mr Kum Poy, liquidator, and Mr Geo. Garrett, manager, on the boring of the company’s Lion claim:— It is fortunate that the company put down four borea last year and found a rich lead of gold at the top and bottom of its claim, but ut that time it was not known what width the run was. However, on January 7 last an agreement was entered into by a boring party to undertake to put down not le-ss than 20 bores on the company’s claim. The first line ot five bores was sunk on the top boundary of the claim—where the company bored the No. 2 hole last year—with a result of one dwt. These five bores were put down at a distance of one chain apart, and two chains apart at the ends. The average of the five bores, with the one sunk last year (total six bores) is 2dwt gold per bore and the width of run from bore to bore is a distance of eight chains and depth on the average was 80 feet. Three bores were also sunk in the gorge three and a-half chains above this line of bores, but they all struck high ledges, the depth averaging only 69ft 4in. At this part the Nokomai River is occupying the deep ground. The result of the three bores was poor. The second line of seven bores was sunk at a distance of 15 chains below the first; the result on an average was Adwt, the width of the run from bore to bore was eight chains and the depth an average of 82 feet. Throe bores were sunk eight chains below th*> second line of bores. At this point a high bar was struck almost right across. The results of these bores were poor; the depths were 74 feet to 80 feet. The third line of four bores which was sunk at a distance of 244 chains below the second line were two cnains apart. The result on an average was 4 grains per bore, and the depth was 94 feet. The fourth line of five boros which was sunk in a line with No. 4 bore put down last vear at a distance o 4 17 chains below the third line. The average result per bore was almost ldwt per bore and the depth 93 feet. We have watched every bore sunk to the bottom and in many cases have drilled into the reef to make certain of the bottom. The ground was very tight with clay and gravel, and had very little water in it until the bottom was reached.

In every bore the material inside the pipes had to be drilled right through. We panned and tested all wash brought up l>y the pump. Most of the gold was obtained from 5 feet to 6 feet wash lying above the rock bottom, which is mostly hard brown and blue. We were fortunate in having arranged with Mr J.’M. Stewart to have t.vo 6in boring plants to do the work, which occupied 14 weeks for the 27 bores sunk. The total depth of the bores was 2238£ feet. Both plants were using hydraulic jacks for lifting up the pipes from tho bores and we consider this method is a great saving of labour compared with the bottle iacks previously used. Mr W. A. Bowden was in charge of the heavy plant and Mr .1 o‘Brien the smaller plant. Both are experienced hands as were the men with the plants. We are satisfied that the work was carried out right through in their best workmanship manner.