Page 4 Advertisements Column 1

Kumara Times, Issue 173, 24 April 1877, Page 4

PROSPECTUS X OF THE NEW ZEALAND SILVER MIKING CO., (LIMITED). Mount Rangitoto, County of "Westland, New Zealand. CAPITAL, £40,000. In 8000 Shares of £5 each, payable as follows: Five shillings, on application. Five shillings, on allotment. The balkuce on Calls not exceeding 2s 6d pei* month. The Company -will be registered immediately applications are received for 5000 shares. Head Office to be at Dunedin, or Wellington, according to decision of majority of Shareholders. PROVISIONAL DIRECTORS : Messrs S. M. South, J. R. Hudson, and Henry Young, Hokitika. BROKERS FOR WESTLAND : Messrs F. A. Learmonth and Co. Bank of New Zealand.

The object of the proposed Company is to work a Mineral Lease of 500 acres, situated at Mount Rangitoto, County of Westland, fonnerly known as Hudson's Lease, which Lease has since been purchased from the Waste Lands Board by Mr Henry Young. The Lease is known as No 2, west of the Mount Rangitoto Company's Mine. The area secured is 500 acres, on which two distinct lodes of ore—one fifteen inches, and the other varying from three to five feet in width outcrop. Mr Arthur, Mining Surveyor, who has recently returned from completing a survey of the Lease, reports as follows : " 1 may state that in addition to lodes formerly reported on that Mr Palmer, one of the original prospectoi's of the Mount Rangitoto Silver Mine, who kindly volunteered his assistance in the Survey, discovered a large lode in one of the Creeks running through the Lease, the position of wliich you will see on the plan, and marked ' Quartz Reef.' The reef is from fifteen to eighteen feet in thickness, and bearing •east 43 deg. south, and west 13 deg. north,'underlying to the north at an about 80 deg. This lode is in a direct line with those now being worked ;by the Prospectors' Company, and shows both Galena and Pyrites. Mr iPalmer also discovered a great qxianiity of-stream tin in two different creeks in the lease, some of the boulders being from two to three hundredweight. I am of opinion that an immense tin lode must also tun through the Lease, from the quantity of stream tin in the two creeks." The original Prospectors of the Mount Rangitoto Company's Mine also report as follows upon this lease " Two lodes of ore similar to those in the Mount Rangitoto Company's Mine outcrop in this Lease, one of fifteen inches, the other varies from three to five feet in thickness." Samples of ore from the Rangitoto Company's mine have been proved by Professor Kirkland, of the Melbourne tJniversifcy, to contain respectively three hundred and ninety-two ounces and seven hundred and thirty-five ounces of silver to the ton. Dr Hector in his Eleventh Annual Report, 1876, on the Colonial Museum and Laboratory, Wellington, reports having obtained from a sample of Rangitoto ore a yield at the rate of five ounces fifteen pennyweights nineteen grains of gold per ton. References is also directed to result of analysis, No. 1855, locality, Mount

; Rangitoto, obtained at the New Zealand Geological Survey Laboratory, which ; reads thus : —"The amount of gold in No. 1 is ten dunces two pennyweights per ton." .-----• It is proposed to engage from California a thoroughly competent and ex- — perienced Silver Mining Manager, and to. have the mine developed and worked on sound scientific principles, and with 'the latest machinery. As there is an abundant supply of water and timber .in. the immediate viciuity of. the mine, and the Government have now in pro- "- gress a line of road, ifc is expected, that the working of the mine will be conducted with facility and economy.v ~ On transferring the Property to the proposed Company, the promoters will receive 2000 fully paid up £5 shares, j and the sum of £IOOO in cash. _ Early application for shares will be necessary, as the promoters confidently expect applications for fully double the ,; number ,of shares to be allotted. Applications will be received by. HENKY YOUNG, • ,-..'-,■;■-' ;. Interim Secretary; or f. A. LEARMONTH & CO. ■i .•.:;'■ s.- Brokers, Hokitika. ~. , R. T. HOLMES, iREWER, CORDIAL, & CRATED ; ~.. .WATER.SfANUPACTERER. Greymouth.