Page 3 Advertisements Column 2

Westport Times, Volume IV, Issue 682, 9 July 1870, Page 3

[3BOSPECTUS EXCELSIOR QUARTZ MINING COMPANY, IBISII HAN ' S CREEK, Lyell District. Capital £9,000, m 9GO Shares or £lO EACII. A deposit of 20s. per Share to be made on application, and a further sum of £2 per Share on allotment, as it is the intention of the promoters to commence work without delay, the balance of the Shares will be made payable at intervals of not less than one month, and not more than 20s per Share at any call, after due notice of the same has been made in the local newspapers. The Board of Directors to be appointed at a Q-eneral Meeting of Shareholders immediately after all the available Shares shall have been applied for. Bankers : Bank of New Zealand. Compact's Temporary Office .- Jno. Munro's Offices, Molesworth-st. This Company has been formed by the amalgamation of two claims, held under miner's rights, viz. Florian and party (6), and Davie and party (6; ; consisting of a block of ground, measuring 720 feet, along the line of reef, by 606 feet in depth; the above interest having been assigned to Messrs M'Laren and Munro in trust for the benefit of the public Shareholders, an application has been made for a lease of the amalgamated claims under the Nelson South-West Goldfields Regulations The Beef is found cropping out on the easterly side of a range, at a height of 800 feet above the level of the Lyell Creek, the range being a slate formation, running N.N.E. The position of the claim, the property of the Company, is about the centre of the range, and adjoins the prospectors' claim, and it is a notable fact that Irishman's Creek, which takes its rise on the north boundary of the claim running east, has yielded 900oz of specimen gold to one party. A tunnel of 40 feet has been put in by which a well-defined reef, 12 feet thick, has been exposed, running N. and S., with a very slight underlay, on the west side again there is a perfect formation of blue slate, and on the east side is a body of wash intermixed with quartz leaders 10 feet thick ; the main reef is composed of a mass of leaders varying from i inch to 3 inches in thickness until it attains a total width of 12 feet, the gold being equally distributed throughout the stone. By means of a shaft 22 feet deep in the reef the leaders have been found to be closer, the main reef thicker, and the prospects improving. This formation of stone, as may easily be understood, permits of the claim being worked at a comparatively trifling cost, one man, as has been proved, being able to excavate about 5 tons per diem. As an evidence that the reef is regular and runs through the claim, a party 4-00 yards distant have disclosed the same reef. In consequence of the absence of proper appliances to test the quality of the reef, no sufficient test has as yet been made except three small parcels, from the main reef, marked 3, tested at separate times, with the following results: — No. 3. Three lbs. yielded 3 grains, being at the rate of 4ozs 13dwts Bgrs per ton. —Signed B. F. B. Horton, Melter and Assayer, Bank N. Z., 30th May. No. 3. Four lbs yielded 4 grains, being at the rate of 4ozs 13dwts Sgrs per ton.—Signed A. Bobinson, Melter, Bank N. Z., 28th June. No. 3. Four lbs. yielded 4 grains, being at the rate of 4ozs 13dwts Sgrs per ton. —Signed A. Bobinson, Melter, Bank N. Z., 2nd July. As it would be advisable to work the claim by waterpower the Company have secured the exclusive right of the water in Irishman's Creek, and also the registered right to 8 heads of water from Deep Creek, which would be abundance of water for the efficient working of both the water-wheel and other necessary machinery. It is further proposed to give the original claim-holders, viz. Florian and party and Davie and party, £3600 in paid up scrip of the Company, in consideration of their right, title, and interest in, and to the claims, and also £I2OO cash for work and labor done by them in prospecting and proving the ground, which would leave a sum of £4BOO to be raised by the disposal of Shares; but as the promoters confidently expect that one half that sum will be sufficient to put down the necessary machinery, and as the claim will then be reproductive, it is not expected that more than half the amount of the Shares will be called up.