Page 1 Advertisements Column 5

Kumara Times, Issue 595, 24 August 1878, Page 1

PROSPECTUS TAIPO QUARTZ MINING COMPANY (Limited). ARAHURA DISTRICT, COUNTY OF WESTLAND. Capital: £10,001), in 10,000 Shares of £1 each. Sixpence |>er share on application ; 6d. pur *hare on allotment; and Calls uot to exceed 6d. per share per month. PROVINCIAL DIRECTORS : James Holmes, Esq., Hokitika j A. L. King, Esq., M.C.C., Hokitika Thomas Cooke, Esq., Hokitika James Pearson, Esq., Hokitika George Bath, Esq., Hokitika James Chesuey, Esq., Hokitika Joseph Churches, Esq., Hokitika H. Richardson Rae, Esq., Hokitika Charles Linuemann, Es.q., Hokitika Hans J. Hansen, Esq., Hokitika Thomas Haworth, Esq., Hokitika. BANKERS: The Union Bank of Australia. SOLICITOR : C. E. Button, Esq. SECRETARY : J. E- Cuddetbid, pro tern. The object of the proposed Company is to work the lease of the Enterprise Quartz Mining Company, Taipo. The claim is situated on Parry's Range, Arahura District, about seven miles from the Christchurch road, and thirty-seven miles from Hokitika. The claim contains an area of 20 acres, granted as a lease to the present company by the Governor's Delegate. The prospectors have alreadv expended a sum of £ISOO iu driviug a tunnel, sinking a shaft, and generally testiug the ground. Two distinct and well-defined reefs have already been tested in the claim— '. > one in the shaft and the other iu the ; tunnel. They are about 200 feet apart; [ the average width is 3ft 6i« an 2ft 6iu. The stone is equal in lichness. The tunnel has been driven 150 feet, and the shaft iB now down 30 feet. It is proposed to extend the tunnel so as to strike the reef which is being worked j in the shaft. ! A trial crushing of about eight I hundred weight of stone and rubble, ! taken from both reefs, took place at the Bauk of New Zealand, Hokitika, some time since and yielded at the rate of sozs 6dwt to the ton. The payable quantity of the stone having been thus satisfactorily proved, it is proposed that the new Company shall work the ground in a more systematic manner and on a more extensive scale than hitherto, and it ;s confidently anticipated that with the aid of machinery, the mine will- prove remunerative to au extent ,<ieaier thsiu is the case with regard to many of the best reefing companies oh thu West Coast. The claim is commanded by mi extensive and never failing supply of water at a high level, which can be brought on to the ground at a comparatively small cost, for working the battery. When increased labor has opened up th« reefs there will be a supply of quartz sutHcient to keep a heavy battery eoutinually employed. The road connecting the reefs with. the main Christchurch road has been finished by the Government, au'd every facility is now oSered for the conveyance of machinery to this undoubtedly payable field. The promoters and shareholders in the present company have such confidence in the remunerative nature of the ground, that they are wiiling to accept two thousand four hundred paid up shares in the new Company, in full payment for the purchase of their entire right and title in the lease, for all labor already done, and expenses incurred. The promoters are assured that the undertaking will prove a complete success, and confidently express an opinion that the future operations of the new Company will materially tend to the development of a very extensive track of reeliug country, which, when opened up, must of necessity largely increase the commercial prosperity of Hokitika, as beiug the nearest town and pore to the goldfield. They, therefore, invite the attention of the public j to the present undertaking as a safe and paying investment. The promises