Page 4 Advertisements Column 2

West Coast Times, Issue 2480, 12 March 1877, Page 4

Prospectus. ; for tail water throughout the whole distance into the Teremakau. It has also been ascertained that a race from the Wainihinihi could be formed almost entirely by open ditching, and that there will be no need of expensive tunnels or fluming. The race which it is proposed to make will be about 20 miles in length, and will give a constant supply of 50 heads of water. The estimates for the proposed work, which have been carefully prepared, shew that the cost of the race will be about £20,000, and in fixing the amount of capital of the company a large margin has been provided for unseen contingencies. The promoters of the Company have obtained all the necessary grants and protections required under the Goldfields Act. They have also had a preliminary survey made by experienced engineers, and have paid the costs of registering the Company, &c, for which, acd for their interest in the race, they have agreed to 'accept 600 paid-up shares in the Company. The receipts from tbe sale of water are estimated at £12,500 per annum, which, after deducting £3000 per annum for maintenance and management, will leave a profit of £.9,500 per annum, being over 30 per cent, on the capital. Application? for shares in the following form may be addressed to the manager : — Wainihinihi Water-race Company, Limited. I hereby apply for shares in the above named Company, iv respect of which I enclose 2s 6d per share deposit, and I agree to accept the same or such lesser number of shares as may be allotted to me. Name in full Occupation Address Date PROSPECTUS OF THE IVTEW ZEALAND SILVER -^ MINING CO., (LIMITED). Mount Rangitoto, County of Westland, • New Zealand. CAPITAL, £40,000. In 8000 Shares of £5 each, payable as follows : — Five shillings, on application. Five shillings, on allotment. The balance on Calls not exceeding 2s 6d per month. The Company will be registered immediately applications aie received for 5000 shares. Head Office to be at Dunedin, or Wellington, according to decision of majority of shareholders. PROVISIONAL DIEECTOHS : Messrs S. M. South, J. R. Hudson, and | Henry Young, Hokitika. BROKERS FOR WESTLAKD : Messrs F. A. Learmonth and Co. banker* : Bank of New Zealand. The object of the proposed Company is to work a Mineral Lease of 500 iicres, situated at Mount Rangitoto, County of Westland, formerly known as Hudson's Lease, which Lease has since been purchased from the Waste Lands Board by Mr Henry Toung. The Lease is known as No 2, west of the Mount Rangitoto Company's Mine. The area secured is 500 acres, on which two distinct lodes of ore one fifteen inches, and the other varying from three to five feet in width outcrop. Mr Arthur, Milling Surveyor, who has recently leturned from completing a survey of the Lease, reports as follows :—: — " I may state that in addition to lodts formerly reported on. that M r Palmer, one of the original prospectors of the Mount Rangitoto Silver Mine, who kindly volunteered his assistance in the Survey, discovered a large lode in one of the < reek, running through the Lease, the position of which you will see on the plan, and marked ' Quartz Reef.' The Reef is from fifteen to eighteen feet in thickness, and bearing east 13 deg. south, and west 13 deg. north, underlying to the north at an angle of about 80 deg. This lode is in a direct line with those now being worked by tbe Prospectors' Company, and shows both Galena and Pyrites. Mr Palmer also discovered a great quantity of stream tin in two different creeks in the lease, some of the boulders being from two to three hundredweight. lam of opinion that an immense tin lode must also ruu through the Lease, from the quantity of stream tin in the two creeks." : The original Prospectors of tbe Mount I Rangitoto Company's Mine also report as follows upon this lease: — " Two lcdes of ore similar to those in the Mount Rangitoto Company's Mine outcrop in this Lease, one of fifteen inches, the other varies from three to five feet in thickness." Samples of ore from the Kangitoto Company's mine have been proved by Professor Kirkland, of the Melbourne University, to contain respectively three hundred and ninety-two ounces and seven hundred and thirty-five ounces of silver to the ton. Dr Hector in his Eleventh Annual Report, 1876, on the Colonial Museum and Laboratory, Wellington, reports having obtained from a sample of Rangitoto ore a yield at the rate of five ounces fifteen pennyweights nineteen grains of gold per ton. Reference is also directed to result of analysis, No. 1855, locality, Mount Rangitoto, obtained at the New Zealand Geological Survey Laboratory, which reads thus :—: — ' v The amount of gold in No. 1 is ten ounces two pennyweights per ton." It is proposed to engage from California a thoroughly competent and experienced Silver Mining Manager, and to have the mine developed and worked on sound ] scientific principles, and with the latest machinery. As there is an abundant supply of _ water and jtimber in tbe immediate vicinity of the mine, and the Government have now in progress a line of road which will connect the Mount Rangitotc Mines with the main Hokitika road, it i& expected that the working of the mine will be conducted with facility and economy. On transferring the Property to the proposed Company, the promoters will receive 2000 fully paid up £5 shares, and the sum of £1000 iv cash. Early application for shares will be necessary, as the promoters confidently expect applications for fully double the number of shares to be allotted. Applications will be received by HENRY YOUNG, Interim Secretary ; or F, A. LEARMONTH & CO, Brokers, Hokitika.