Page 1 Advertisements Column 5

Kumara Times, Issue 601, 31 August 1878, Page 1

PROSPECT.US OF THE mAIPO QUARTZ MINING 1 .COMPANY (Limited). - ARAH.URA DISTRICT, COUNTY OF WESTLAND. Capital: £IO,OOO, in. 10,000 Shares of £1 each. Sixpence per share on application ; 6(1. per share on allotment; and Culls not to exceed 6d. per share per month. PROVINCIAL directors: James Holmes, Esq., Hokitika A. L. King, Esq., M.C.C., Hokitika Thomas Cooke, Ksq., Hokitika James Pearson, Esq., llokitika" George Bath, Esq., Hokitika ' """'• :'. James Chesney,- Esq., Hokitika Joseph Churches, Esq., Hokitika H. Richardson Rae,Ksq., Hokitika ' Charles Linnemann, Esq., Hokitika Hans J. Hansen, Esq., Hokitika; J' Thomas Haworth, Esq., Hokitika! f bankers: The Union Bank of Australia., solicitor : C. E. Button, Esq. SECRETARY". J. E- Cuddeford, pro tern, ; I The ohjecfc of the proposed Company is to work the, lease of the Knterpri.se Quartz Mining Company, Taipo. • ■■' The claim is situated on Parry's Range, Arahura DiHtriotj about seven miles from the Christchurch road, and thirty-tjevenmiles from Hokitika. « <-.. . The claim contains an area of-20 acres, granted as a leaße to the present company by the Governor's Delegate. The ;prospectors have already 'expended a Bum of £ISOO in driving a tunnel, sinking a shaft, :and generally testing the ground. .Two distinct and well-defi'uedf reefs.' have already been tested'in the claim—j one in the shaft and the other"hrrthe i tunnel. They are about 200 feet apart ; the average width is 3ft 6in an 2ft 6in. | The stone is equal in richness. . ■« -.> The tunnel has been driven 150- feet, j and the shaft is now down 30 feet, i-.lt' is proposed to extend the tunnel so as i to strike the reef which is being worked | in the shaft. ■••>-•■ ; A trial crushing of about eight hundred weight of stone and rubble, taken from both reefs, took place at the Bank 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. hithei to, and it is confidently anticipated that with the aid of machinery, the mine will prove remunerative to an extent greater than is the case with-regard: to wnny of the l»e.st reetiHg companies on the West; Coast. ' '"' The claim is commanded by, an ex-, tensive and never failing . supply of water at a high level, which can bet brought on to the ground at a comparatively small cost, ( .for working the bat-' tery. When increased labor has opened up ■ the reefs there will be-a supply of quartz sufficient to keep a heavy battery cou-, tinually employed. • The road connecting the reefs with' the main Christchurch road has been \ finished by the Government, and every j facility is now ottered for the convey- j ance of machinery to this undoubtedly ' payable fielci. The promoters and shareholders in the present company have such confidence in the remunerative nature of, the ground, that they are willing to ac-1 cept two thousand four hundred'paid up shares in the new Company, in full payment for the purchase of their en- \ tire right and title in the lease, for all ; labor already done, and expenses in- '■ curred. The promoters are assured that the undertaking will prove a complete success,> and confidently express an opinion that the future operations of the new Compauy will materially tend-i to, the development of a very extensive . track of reefing country, which, when opened up, must, of necessity largely increase the commercial prosperity of Hokitika, as being the nearest town and port to the goldtield. They, therefore, invite the attention of the public ) to the preseut undertaking as a safe and paying investment. The promises