The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY, FEBRUARY 26, 1887. IMPORTANT MINING PROJECT.

Ashburton Guardian, Volume V, Issue 1493, 26 February 1887, Page 2

The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY, FEBRUARY 26, 1887. IMPORTANT MINING PROJECT.

For some months past paragraphs have appeared from time to time with reference to the projected amalgamation of the Blue Spur mining claims, and the proposal to float m London a powerful company or syndicate to carry on gold- mining m that locality (the Blue Spur) on a scale of magnitude impossible so long as each claim is under separate management and the scene of distinct operations. The first part of the scheme, that of amalgamating the claims, has been successfully carried out, and the energetic member for the district, Mr J. C. Brown, is now on his way to London to endeavor to accomplish the second. We learn from the Otago Daily Times that "the companies registered and otherwise which have agreed to the disposal of their interests with the view of throwing the whole area remaining unworked into a single ' claim are :— The Great Extended, the Otago, the Nelson, the Pers-verance, the Fidelity, the Amalgamated, the North of Ireland, and Morrison and Co. These companies hold valuable water rights, which cover a quantity of 1800 inches according to the Government measurement, which represents a free flow of 750,000 gallons a minute ; which rights, with all other easements belonging to or connected with the claims, will be made over to the proposed company, who should thus have very signal advantages for successful working" The following interesting information with respect to the field of operations is supplied by our contemporary : — " The auriferous deposits of the Spur, known as cement, consist oi coarse gravels and silts cemented together, carrying variable quantities of gold which permeates throughout. From the deposits already worked, gold to the value of ,£570,000 has been taken, according to official returns ; and notwithstanding the difficulties arising from the ground having been m the hands of many separate companies and the imperfect appliances m use, the amount paid m dividends has been ;£i 87,000, whilst there has not been a single call upon shareholders. The original area of thewhole of the claims was 54 acres, and the area remaining to be worked is a little over 45 acres, according to the estimate of the Government district surveyor i» "January of rtie present year. The average depth of the cement has been calculated to be about 100 ft, and it may be taken as assured that there are not less than 7,154,400 cubic yards of auriferous stuff to be worked — a quantity which represents several "millions of tons. When it is considered that the cement has yielded as high as 6dwt. to the ton, whilst the minimum is stated at 6gr., the value of the ground if economically and scientifically worked may be surmised. There is no doubt that up to this time a considerable percentage of the gold has been lost through the method of working, appliances more or less defective, and inefficient extraction. This, indeed, is demonstrated by the returns of the Gabriel's Gully Tailings Company, who have obtained from the castaway tailings of the Blue Spur mines gold to the value of ;£i 5,000, although, from circumstances it is not essential to refer to, they have not been able as yet to put through much of the stuff." From the foregoing it is abundantly evident that handsome returns may be expected from the investment of capital m efficient mining machinery, plant, and facilities, while, many difficulties and disadvantages attendant upon the present smaller workings by different claimholders will cease to attend the operations of one powerful Company, having the control of the whole field. We think that great results may be looked for should ; such a Company undertake the work--1 ings at Tuapeka, and we quite concur with the local journal that the success of the present scheme will be the finest thing that has happened to the locality since the first discover/ of golcf'by Gabriel Reid.