The Ashburton Guardian. Magna est Veritas et Prævalebit. TUESDAY, OCTOBER 18, 1887. THE WAITOA GOLD FIELD.

Ashburton Guardian, Volume VII, Issue 1690, 18 October 1887, Page 2

The Ashburton Guardian. Magna est Veritas et Prævalebit. TUESDAY, OCTOBER 18, 1887. THE WAITOA GOLD FIELD.

Of late years there has been no such excitement m mining and speculation circles as that occasioned by Mr Pond's report on the Waitoa field, presented to the Waitoa Prospecting Association, on which we briefly commented m our issue of Saturday. Mr Pond's report gave rise to the suspicion that what is commonly known as the "salting" process, has been resorted to, and this, of course, has had the effect of considerably reducing, for a time at least, the value of the Canterbury Company's shares. The Christchurch community is not, as a rule, a speculatively enterprising one, but m this instance many of the leading men m and around the City of the Plains have invested largely m the enterprise. But they did not do so on Mr Smith's representations alone. At his suggestion some half a dozen substantial citizens, every one of whom is thoroughly reliable, accompanied by Professor Hutton, visited the scene of the field. They sank shafts m many different places on Mr Smith's property, and took samples of stuff from each. These samples were anal/sed, by Professor Hutton we believe, and it was on the results of these analyses that it was determined to form a Company m Christchurch to purchase and work the ground. The analysis showed that such a Company would have a brilliant career before it if properly managed. But this brilliant career has been overshadowed — we trust but temporarily — by Mr Pond's damaging report. In view of the report the following analysis and remarks by Mr Pond of his assay of the same stuff from the same locality will be read with interests. Ihe sample referred to was sent by Mr Smith to Messrs Frater Bros., of Auckland, who submitted it to Mr Pond, the Colonial Analyst. The following is Mr Pond's report thereon : — J. A. Fond, Auckland, N.Z., Colonial Analyst. January 22nd, 1886. Messrs Frater Bros., Auckland. GentlemeD, — I duly received from you on the 18th instant a sample of powdered ore or sand for ftßßay. Herewith I forward the result. Assay. Oz. Pwt. Grs. Bullion.. .. 22 7 12 per ton Containing gold 17 19 8 „ „ silver 4 8 4,, I need hardly add that m the event of there being any large extent of this material it will prove a very valuable find. The value of the sample aooording to tht above assay, is £72 15 6d per ton estimating the gold at £i and silver at 4s per oz. The gold is m fine water-worn grains, intermingled with magnetic and titanio iron throughout the quartz and pumaceous drift. Care will be required m saving the gold, owing to the fine partioles m which some of it is divided. I have, etc, J. A. Pond. Colonial Analyst. We also reproduce m our present issue Professor Button's remarks on Mr Pond's report, which will put our readers m possession of facts sufficient to enable them to form a judgment of their own on this strange case. Taking all the statements into consideration it does seem somewhat strange to us, that Mr Pond m view of his former assay — that of stuff sent by the Messrs Frater of Auckland — and of the others which have been made, should, on such a slender foundation as the assay of one sample alleged to have' been taken from Smith's property, have thought fit to present such a a damaging and suggestive report. However, as Mr Smith is on his way to Australia, where he will arrange for a ton of the stuff to be tried by the Newbery-Vautin plant believing it possible that there may be a process outside this colony which would save much larger percentage of gold, all doubt on the subject, we may expect to be eoou get »t rest,