Page 3 Advertisements Column 3

Westport Times, Volume III, Issue 567, 14 October 1869, Page 3

PROSPECTUS WAIMANGAROA QUARTZ MINING COMPANY, BUIiLEB DISTBICT. (To be Registered under the Mining Companies' Limited Liability Act, 1865, as soon as 750 shares are disposed of.) Capital—£lo,ooo, in 2000 Shares of £5 each. A deposit of 10s. per share to be paid on application, and a further sum of £1 per share on allotment. While it is expected that no further call will be necessary, still, if it is found to be so, no call will be made for a sum exceeding 10s. at any one time, nor without one month's notice first being given by advertisement in some newspaper published and circulated in the Buller District. Pbovisional Dieectoes : John Hughes, R. C. Reid, J.P., Geo. Pirie, Joseph Paul, James Powell, James M'Dowell, E. J. O'Conor, M.P.0., Henry Hounsell, George Falla, James Humphrey, John Southern, John MTntosh, David Leslie, Banxees :—Bank of New Zealand. Manages Peo Teh. :—E. J. Morgan Company's Tempoeaet Offices Empire Hotel, Gladstone Street, Westport. THE Provisional Directors of this Company have made arrangements for the purchase from the Proprietors of all their right, title, and interest in a Block of Land, containing about 1G acres, 2 roods, 4 perches, situate on the west bank of the Waimangaroa River, about 10 miles from Westport j which block of land is held by the Proprietors for a term of 15 years, at a yearly rental of £2 per acre, granted by His Excellency the Governor, under the " Goldfields Act, 1866." The Block is about 400 yards in length, by 200 yards in depth. For a distance on the surface 'of 900 feet, and underground 182 feet, an Auriferous Quartz Reef has been traced of an average thickness of not less than two feet. The Reef is trending N.W. by W., and S.E. by E., passing through the entire length of the Block of Land, and is nearly perpendicular, under- I lying slightly to the east. The Reef | on the east lies against a well-defined slate formation, and on the west, sandstone, interspersed in places with a thin seam of slate next the quartz. Before the present Proprietors became possessed of theblock.atunnel was put in (to cut the reef near the north end of the claim), some 35 feet in length, and direction from east to west. In this tunnel no less than seven different gold-bearing leaders were struck ; one of them is 10 to 12 inches thick, and contains both coarse and fine gold iu what is considered payable quantities. Another of these leaders yielded as much as six grains to the tin-dish full of dirt when washed ; the gold, however, was very fine, and the leader only two or three inches in thickness. With respect to the goldbearing qualities of the Main Reef, the Proprietors have not as fully tested it as might be desired, but from the ascertained richness of the quartz already obtained, and the auriferous indications presented along the whole length of the block, and also adjoining it, the Provisional Directors are fully justified in congratulating themselves and the Company upon the acquisition of this valuable property, and confidently expecting the realization of the most satisfactory results. From- a block of quartz, about 15 feet in length, by 20 in depth, taken from that part of the reef nearest the river, 100 ounces of gold were extracted. At a point, (to which a tunnel has been put in,) distant about 50 feet south of the river, being about the same distance from the northern end of the block, a shaft 22 feet deep has been sunk in the Reef; the quartz therefrom, 15 tons, producing an average yield of about one ounce to the ton. This shaft has proved beyond all doubt, not only that the Main Reef is payable, but that the quartz increases in value in proportion to the depth from where it is taken. The gold is of a coarse description, and confined mostly to the centre of the Reef, a fact which may be looked upon as most encouraging. The Provisional Directors have not only purchased the block of land from the Proprietors, but also the whole of their water-rights, machinery, tools, utensils, huts, tramways, Ac, &c. The machinery consists of a battery of eight head of revolving stampers of four hundredweight each, together with copper plates, tables, Ac., and every requisite for immediate crushing, the whole being enclosed in a weatherboarded shed. The battery is worked by water-power, the water-wheel being 28 feet in diameter, and nearly new. The water is brought in boxes from a large creek about half-a-mile distant, which creek furnishes an abundant supply at aU times. The whole of the machinery is in excellent working order, and ready for use at any moment. There are also on the ground two substantial huts, a blacksmith's shop, and all requisite tools, implements, Ac, for starting work at once. The Proprietors have expended in machinery, labor, Ac, about £SOOO, and now find it necessary to make a further expenditure for providing pumpa and pumping gear, it being impossible to get out the payable quartz I without.