MINING NEWS.

Hauraki Plains Gazette, Volume XXXVIII, Issue 5138, 13 June 1927, Page 2

MINING NEWS.

PROSPECTING IN THE DISTRICT.

ACTIVITY AT KARANGAHAKE.

The Karangahake Mountain still continues to attract attention, not only from local speculators, but also from outside investors. The search for hidden treasure is a fascinating game, and to those with the gold fever in their veins is life itself. First, a reef is located or traces of gold are found, and until the reef or source of its origin is located the miner is not content. Prospecting Is being carried out by several parties, amongst them being the Imperial Gold Mining Co.. Ltd., Mr W. J. Aynsley, owner of the Shotover mines, and Mr J. B. Morris, working the Earl of Glasgow claim. The latter claim has shown such good promise that Mr Morris has erected a crushing plant of five stamps on the property, and has already commenced crushing. The Imperial Gold Mining Co. has qlso located a number of reefs showing traces of gold, and is at present driving on a reef which showed a very handsome assay value. The Shotover property is being systematically prospected by Mr Aynsley, who is a mining expert, and has had two men working the claim for some months past. Here, again, encouraging indications have been met with, and it is Mr Aynsley’s intention to push forward the prospecting work. He has had considerable experience in mining both in New Zealand and Utah, America. He is representing large mining interests, and anything worthy of consideration he is prepared to investigate, and if the project is satisfactory is quite willing to capitalise it.

In an interview Mr Aynsley said he was of the opinion that this goldfield had only been scratched, and he predicted that there was a big future before this district. Mining had taken a new lease of life, and greater activity should prevail in the very near future.

“What do you think of the Hauraki, Ltd ?” .

“Yes,” said Mr Aynsley. “I think this is one of the best propositions before the public to-day.” His reason for thinking so was because the watter trouble in this mine had been overcome by the installation of the latest machinery. The company would be driving immediately into the reefs, which were known to exist and contain rich values.

“What are you doing with the Ruahine copper mine ?” “In the first place,” said Mr' Aynsley, “I went across to America and was successful in floating a company of £2,000,000, provided, however, that the load was located. During my absence in America a drive was put in, but, unfortunately, 150 ft too high, and this proved fatal, as it consumed all the available capital of the local syndicate. The work has been suspended in the meantime.”