The Pohangani Reefs.

Manawatu Standard, Volume X, Issue 1475, 8 October 1885, Page 4

The Pohangani Reefs.

The gold fever : has fairly, taken . hold of the good people of Palmerstbn.Kortb, there being two applications for mining^ leases at Pobaiigina, advortised m the local papers- there; This- looks ; like business, and we,hope will ,be followedup with the establishment of a settled mining industry- m the locality .mentioned. Meantime, we wouia'wacn'd'utBiders not to be led away with delusive tests, as nothing is so misleading. If a ton o£ stuff is tried, well and good, thongh even then after results .might fail to come up to Ihe. trial crushing, as m the case of one .notorious T^rawhiti company. To givelarge sums for shares or claims, Which are yet uuti-ied^is sim^ ply gambling, and: as. likely /to lead to heavy losses as any other reckless way of investing money. What is- required| is vigorous prospecting and bard works, to prove the exact value- of the i supposed new gold field. Money for that purpose would be well spent, an f d we hope will not be withheld to a, t moderate, amount; All we .warn on r rea^prs "against is.' giy? ing big prices for shares, which have yet to be proved of any value at|alWi?era&L ;

We hear tnat there is considerable e'xcilement m Aslinrst today, ii^ reference to the Pohangina Heets, and a number of fresh- leases are, being .applied for. Several disiriterested^persons; who been on the ground, 1 express-thetnsel^est sangiiine as to its capabilities.! We ; • [d,O ; , not deem it advisable, to giye^ currency, to various luiiiora r which w.ere ; in circiilar, tion there.lest a .rush .niighj; take place prematurely. We may, ; say ? .however , that some experienced, miners ! ; fr6m tbe^' Thames and West Coast; who' have' visited the locality, speak tof it's prospects m very -hopeful terms. We -sincerely,: hope their predictions will jbe abundant- ; ]y realised. ■ ■ '. . '-,. '■;< .," . ■■; /< ;