NEW ZEALAND OPALS.

Dominion, Volume 5, Issue 1554, 25 September 1912, Page 3

NEW ZEALAND OPALS.

Attention is drawn to an advertisement in our columns to-day containing (ho prospectus of "The Tairua Opals, Limited, a company boius formed to exploit the only known opal deposit in the Dominion. Tho promoters have already secured several parcels of gem stones of considerable value, as can bo seen from the report of A. Larson, expert lapidist, of Auckland, who values tho first parcel secured at ,£2ll 15s. This was recovered at a working costs of .£l9 10s. The reports of A. Jarman, A.R.S.M., M.T.M.M., and Leslie W. A. M'Arthur, F.G.S.,- are valuable opinions on the prospects of the mine The latter gentleman states: "I havo no hesitation in conveying my opinion that the Hikuai opal field ig of vast prospective and present value, well meriting systematic development operations to secure a highly profitableyield at but small comparative cost and working expenses. There exists undoubted evideneo that the opal matrix has been introduced to the surface by thermal action, subsequent to and distinct from the very pronounced volcanic eruptions and agencies which prevail in the surrounding district. This all-important featuro is clearly shown by the rich formation contained in the opal matrix being regular and well-defined, entirely devoid of eruptive fracture and displacements. This fact lends every confidence that the opal matrix will continue to a considerable depth, probably to,the "kernel" of past thermal action." "Dming investigation at my instance several blasts were put in to exhibit fresh face to excavation and examination of result and output, from which numerous opals were contained in tho matrix, of distinctly payable quality. The characteristics were of .varied nature, including 'noble' (royal) opal, 'fire' or red opal, and many specimens of 'sheen,' commonly termed, 'harlequin,' or multicoloured opal, of exceptional brilliancy, whilst much of the matrix was interspersed f ith 'pinfire' opal of high market value." The exact limits of tho opal-bearing strata aro unknown, but from measurements taken it is estimated that, thero, exists at least 1,000,030 cubic yards similar to that from which the opal already won has been obtained. Tho company offer 12,500 shares of £\ each to the public, at ss. per share on application, 2s. Od. on allotment, and the balance in- calls not exceeding 2s. 6d. each, at intervals of not less than one month.