Page 1 Advertisements Column 5

Kumara Times, Issue 676, 27 November 1878, Page 1

PROSPECTUS

OP TtiE IAIPO QUARTZ MINING COMPANY (Limited),

ARAHURA DISTRICT, COUNTY OF

Westland.

Capital - £10,060, in 10,000 Snares of Jfil each.

Sixpence per share on application; 6d. per share on allottnent; and Calls udt to exceed 6d. per BhaVe per fcdonth.

PROVINCIAL DIRECTORS • James Holmes, Esq., Hokitika. A. L. King, Esq., M.C.C., Hokitika Thomas Cooke, Esq;, Hokitika James Pearson- Esq., Hokitika George Bath, Esq., Hokitika James Chesney, Esq., Hokitika Joseph Churches, Esq., Hokitifoi H. Richardson Rae, Esq., Hokitika Charles Linnemann, Esq., Hokitika Hans J. Hansen, Esq., Hokitika Thomas Haworth, Esq.‘, Hokitika.

BANKERS: The Union Bank of Australia

SOLICITOR 0. E. Button, Es^.

secretary : J. E- Cuddeford, pro teni.

The object of the proposed Coihpany is to work the lease of the Enterprise Quartz Mining Company, Taipo. The claim its situated on Party’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 thb present company by the Governbr’S Delegate. The prospectors have already expended a sum of £ISOO in driving a tunnel, sinking a shaft, and generally testing the ground. Two distinct and Well-defined reefs have already been tested in the 'claimone in the shaft and the other in the funnel. They are about 200 feet apart ; the average width is 3ft 6in an 2ft 6in. The stone is etpral in richness.

The tunnel hhs been driven ISO feet, ‘hnd the shaft is now down 30 feet. It is proposed to extend the tunnel so as to strike the reef •which is being worked in the shaft.

A trial crushing of abdut eight hundred weight of stone and rubble, taken front both reefs, took place at the Bank of New Zealand, Eokitika, some time since and yielded at the rate of sozs 6dwt to the ton.

The payable quantity of the stone hiving been thus satisfactorily proved', it is proposed that the hew Company shall work the ground in a more systematic manner and on a more extensive scale than hitherto, 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 many of the best reefing companies on the West Coast.

The claim is commanded by ah extensive and never failing supply of water at a high level, vvhibh can be brought on to the ground at a borapatatively email cost, for Working the battery, ,

, When increased labor has opened up the reefs there will be a siipply of Quartz sufficient to keep a heavy battery continually employed.

The road connecting the reefs with the main Christchurch road has been finished by the Government, and every facility is now offered 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 williiig to accept two thousand four hundred paid dp 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 thit 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 reefing countrvj which, when opened up, must of necessity largely increase the commercial prosperity of Hokitika, as being the nearest town and port to the goldfield; They, there l