TERAWHITI GOLD.

Dominion, Volume 7, Issue 1867, 29 September 1913, Page 9

TERAWHITI GOLD.

(Published by Arrangement.) The following extracts from the report on tho Terawhiti Dykes Company's pro•perty, obtained Independently of the promoters and since the issue of the prospectus, will bo of interest to the publio generally:— Structurally theso dykes compare with those existing through Gippsland, in Victoria, notably, such as the Waverley, Rose of Denmark, and Tubal Cain, in the Woudspoiiit and Waihalla districts, also the AVonga Dyke in the Stawell district, and the Homeward Bound in Yalwal, in Now South Wales. The Alaska Treadwell Mine, near "Juneau," in Douglas Island, pays a dividend of .11 per cent. on ores of value less than 7s. por ton.

MINERAL CHARACTERISTICS OF TEKAWHITI. —The gold occurs associated with a very minute portion of iron pyrites, but it is perfectly free and clean, it amalgamates readily in the pan, and is of a very high grade in qualify, realising from £i le, Bd. sterling to £1 2s. 6d. per ounce. These values are from the Dominion Analyst's • assay reports. ; The gold is exceedingly fine, but, .owing to its fineness in quality, it is very heavy. The mineralisation is practically throughout the whole body, 'in fact, I was agreeably surprised on examination to find that there were no blanks in the many dishes that were, tried by me. All samples were broken out in my presence, and in places seleoted by ine, and were thoroughly sampled down to a reasonable quantity, about four to six,pounds. As a result of my sampling I can confirm the results obtained by Hart and others who had previously sampled these bodies. The general results of my examination were so satisfactory that there can be no doubt in my mind as to tho

generally payable nature of the dyke. I refer more particularly to the Southern dyke in "Yankees Gully." At this point • where the outcrop has been examined by me, and referred to. in the . assay reports as No. 11, the formation carrying gold is five feet wide, . and tho actual values obtained are between £3 10s. and dE4 per ton. At a point 100 ft. higher up,' and several chains away, tho gold-bearing dyke is 30 feet in width, and carried values of approximately £2 per ton. This is referred to as No. IV in your,list of assays, Judging, by the strike of these dykes, it appears that they will junction at a point not far from the present workings. Although I sampled the large dyke ih No., 2 level of the "Golden Dyke" at distances of W0 and GOO feet in from the mouth, I didi not have time to make as thorough an investigation as, in "Yankeo Gully,' but I was satisfied about the continuance of the gold downwards to a depth of at least 100 ft. below tiho outcrop in the unaltered rock proven by tunnel. This augurs well for. tho downward con-, tinnation of the gold,in .the southern portion of the claim; and I see nothing that would alter my belief that the values will be found at much greater depths than 'those mentioned. The No. 1 workings in "Yankee Gully" are 150 ft. above sea level; No. 2 about tihe same, and' No. 4 is 100 ft. higher up, and crosses a high spur 900 ft. above tho sea..

•For the purposo of treating this ore, a Huntingdon mill,is tho most suitable, and fine,grinding with amalgamation, .and sub-, 'Sequent treatment of the sands, over a Wilfley table to . .recover the slimes would account for at least 00 per cent, of tho gold . ' ,- . .. ' POWER AVAILABLE.—The amount. of poiver that can' bo obtained at the present time from the both branches of "Yankee Gully" is about 25 horso power, with a fall of *150 ft.' In order to' utilise the- above water a short tunnel, about 200 ft. in length, is necessary to carry the left-hand branch- (looking upwards) into the site that I have selected for the dam. This will cost about 10s. per foot. By utilising this water sufficient power is available for tho trial madhdnery, and the pipe line may bd used for auxiliary power, when the larger mill is in use. The power available in tho " Otornngu Stream is much greater' than; "Yankee Gully," in fact, there 'is sufficient water, with ample fall, to give a power of approximately 150 horse power, with, a pipe line- of 1000 yards; the fall available in

this distance is about 125 ft., and by extending up stream, a further fall of 25ft. 6r more may be readily obtained. By utilising water,, recurring expenditures, such as engineer's wages, will bo dispensed with, and the factor of fuel ■ charges is eliminated. _ By taking advantage of these natural facilities a large industrial proposition may be evolved, and, owing to tho many favourable features, mining- may be conducted on a largo scale wi£h the! minimum risk of. loss. Owing to tho fineness of the gold .and the well disseininatedcharacter'l throughout, the ore in payable quantities for a proven width of 30ft., this- property is infinitely superior to a quartz mino where the gold occurs in "shoots." , "As previously stated, the gold- baa every aspect of permanency, and, in my opinion, the gold has been one of the oom-, ponent.parts of the rocks in which it occurs, and.owes.its existenco to volcanlo agencies.

COSTS.—I am firmly of the opinion that these ore bodies will, when worked on a largo scale, be worked for 7s. 6d, per ton, including iill costs, at the inception of tho work naturally, these costs will bo exceeded', and I have put- tho prioo of 12s. per ton of 20001b. as the limit. ' GENERAL.—I "have every confidence in recommending iihiis venture as thoroughly sound. The' proximity to the coast renders access easy and cheap, and I have made inquiries and .1 think that an estimate of £o per ton is ample. I estimate the average values of the ores sampled by me as not less than ill 10s. I have made this tentative estimate, and I firmly believe that the average values will exceed this. This mil yield a very handsome margin of profit. I can givo you my assurance that everything in tho way of sampling was done with scrupulous care, and. every precaution was taken to guard against error.—l am, Yours faithfully, (Signed) , Charles E. Storie, Mining and Metallurgical EngineerWellington, 15th September, 1913. We have pleasure in stating that the majority of tho shares havo been allotted, and application will be received for 10 shares and upwards during tho present week, payment by calls of 2s. per share monthly. Wo consider this proposition 'should bo supported by tlio peonle of Wellington, for should the belief of those who have gone into the matter carefully bo justified, and Terav;liiti bo declared a goldfield, the benefit to all nnd sundry would bo very great. A great many experienced people beHeve that payable gold .is to bo found in Terawhiti, and it is 'surely worth while spending ,£2OOO to -£3(100 to give Terawhiti a fair show once and for all.

We have personally -(tone into tho matter carefully, visited the discovered areas,frequently, seen the material dished over and over again, and can with confidence state that wo believe the proposition genuine, and ono that will give a good return to investors. Should the opinion of the promoters be not justified investors can at least depend on a fair run for their money nnd a clean and honest loss. Over IGOO contributing shares havo been applied for, and tho general public are now urged to subscribe a balance of about 1000 shares.