Page 17 Advertisements Column 2

Observer, Volume XVI, Issue 922, 12 September 1896, Page 17

PROSPECTUS - OV TIIK RACHEL GOLDMINING CO. (No Liability) KENNEDY'S BAY TO BK BGISTKBED. Thk property of the above company con" sists of a Specinl Claim of 81 acics, a conveniently placed battery site, and a niagnicent water power : all situate right in the middle of the best, portion of the' highly auriferous district of Kennedy Bay. First-class reefs of large size have been found in almost all the adjoining claims and are now being worked, many of which reefs are bound to mn into the Eachel Claim. A reef, 12 inches wide, giving prospects of gold in the dish, has been unearthed in this claim. In order to raise sufficient capital to thoroughly prospect this property and thus locate the reefs and ascertain their size and value before placing it on the English Market, it has been decided to form a. No Lia-bility Company with a capital of .fSOOO, divided into 80,000 shares of 2s each, 40,000 of which are retained by the vendors, and 40,000 offered to the public at £25 per 1000. The whole of the proceeds of such sale, less the sum of £50 (to cover cost of lease, etc.) and the usual Brokerage and actual cost of flotation and registration, to be devoted to the immediate development of the property. Plans, Report, and Prospectus may be inspected at the office of the undersigned, where application for shares will be received on Friday morning, September 11th, 1896, at 10 o'clock. Negotiations have already been commenced with a powerful syndicate of English capitalists for the placing of this property on the London Market as soon as sufficient development work has been done. POSTER & HAMPSON, 2(5 Shortland Street, Auckland.

REPORT. Gentlemen : — I have much pleasure in furnishing you with a report on your property, as follows : — The Rachel Special Claim comprises an area of 81 acres Tbounded on the north by the A.J.C. Special Claim, on the north east by the. Kennedy Bay Gold Reefs Special Claim, and the Kennedy Bay Reefs Extended Special Claim, on the south east by the Rangatira Special Claim and the Index Special Claim, and on the west by the "vanderbilt Special Claim. As will be seen by reference to the plan, the Rachel is between the A.J.C. and the Rangatira, which are regarded as two of the best mining properties in the Kennedy Bay District, and has the run of proved gold-bearing reefs and leaders from those claims. Six reefs and leaders in the Rangatira have been worked on with satisfactory results, and as they axe running straight into the Rachel Claim it is highly probable that the whole of them traverse your property. Some of the Rangatira reefs and leaders show very rich gold, and I would strongly advise a level to intersect them in your holding. One of the A.J.C. reefs, about 6 feet wide, has been traced near your boundary,, and it no doubt exists in your holding. Loose gold is to be found in many places on your property, which indicates the existance of payable rtefs and leaders, but the depth of surface is so great as to render prospecting by trenching both tedious and difficult, and the most satisfactory method of proving the property would be by means of levels. As you are aware, a considerable amount of prospecting has been done on your propeity, and as a result you have a reef of one foot wide exposed to view; it is a body of kindly looking quartz and gives prospects of gold by dish and mortar tests; from the appearance of the ore and the nature of the country there is eveiy probability of it making visible gold when driven on. An abundant supply of mining timber exists in the immediate vicinity of your claim, and it is situated for getting supplies or machinery on the ground. You have one of the finest water rights in the district, which is capable of driving all machinery that will be required for the reducion of ores. A tramway is constructed j from the Bay to within a few chains of your I property, which would materially reduce I the cost of getting machinery on the I ground. t As regards sitnation, your property ! occupies an enviable position and is one of j much promise. lam fully convinced that it affords a legitimate opening for the investment of capital, and advise you to devise means of obtaining the requisite cash to thoroughly prospect the ground by putting in cross cuts or drives to intersect the reefs from adjoining properties. There is every probability of rich leaders being intersected in this way at a moderate cost and the property is deserving of at borough test. I have, etc. (Signed) Ge'o. Lindsay, Manager Bay View and Evening Star Mines.