NEW SWASTIKA G.M., LTD.

Dominion, Volume 6, Issue 1860, 20 September 1913, Page 8

NEW SWASTIKA G.M., LTD.

In this issue will be found an announcemeut concerning the ISew Swastika Gold Minos,' Ltd. Tne property is situated in tho heart of the great Keefton gold belt, an area of slate country extending from the Blackwuter in the south to the Aorangi Uolden Blocks in tho north. In this belt of slate country (states., tho announcement)-all. tho best gold mines on tho AVest Coast ore situated, namely: ■Bl&ckwater, Globe, Progress, Big River, Welcome, Alpine, etc., all of li'hicn produced considerable quantities of gold m the past, some of thcrn rank among the most valuable miijes in New Zealand to-day. An inspection report by two of the directors, Messrs. J. Keir and H. P. Hanify, C.E., is fully quoted. It indicates that tho work recommended! by Mr. J. Bowie Wilson and Mr. Sidney Fry has been carried out. This report was made last Juno. In August -last, _ after the prospecting company had put in almost a. year's work, tho property was reported on by Mr. "VV. J. Meehan. Mr. Meehan re senior mine manager in the Reefton district, was formerly manager of tho successful Globe and Blackwater mines, and is at present superintendent of the Murray Creek and Millerton Company's mines. His report, which is most favourable, is fully quoted in the advertisement.' Tho following are one or two extracts taken from his report-.—"l should class it as easily the most,economically worked mine in tho field." "At a rough estimate, in sight, there are at least 12,000 tons of payable ore." "Abundance of water power is available." "Tho stone should be placed in the battory 'when the mine is properly developed under 103. per ton." Inferring to No. 6 reef which is from 14 to 18 feet in width, and has beon driven on for 117 feet, ho says: "My samples (six) were taken , from tho faco outwards along the footwall and over tho drive. They showed remarkable values, the average of tho six being ,£G 9s. Gd. per ton." Placing this average alongside his concluding remarks, the undertaking should (says the announcement) be among tho first-class of mine investments. His concluding remarks are: "I can confidentially assure you that, properly equipped, and under capable an averago return of sdwt. to tho ton would makß it a profitable venturo, so favourably is the loilo situated for cheap mining." Messrs. W. H. Turnbull and Co. are the company's brokers, and as there is probability of tho issue being ovor-aubfionbed, application should be sent In at onco.