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ProspectusesProspectus OF THE , NEW ZEALAND SILVER MINING COMPANY (LIMITED), Mount Rangitoto, County of Westland, N.Z. Capital, £40,000, in 8000 shares of ■£s each, payable as follows; -Five shillings on application; five shillings on allotment; the balance on calls not exceeding 2s. 6d. per month. 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. Dunedin Broker : Mr. J. B. Bradshaw, Bankers: Bank of New Zealand. ■ The object of the proposed company is to work a mineral lease of 500 acres, situate at Mount Rangitoto, County of Westland, formerly 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: “ I may state that in addition-to lodes formerly reported on, Mr. Palmer, one of the original prospectors 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 this Lease, the position of which you will see on the plan, and marked “quartz reef.” The reef is from fifteen to eighteen feet in thick-, ness, and bearing east 13 deg. south, and west 13 deg. north, underlying to the north at an angle of about 80 degrees. This lode is in a direct line with those now being worked by the ’ Prospectors’ Company, and shows both galena and pyrites. Mr. Palmer also discovered a great quantity of stream tin in two different creeks in the Lease, some of the boulders being from two to three hundredweight. I am of the opinion that an immense tin lode must also run 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.” It is proposed to engage from California a thoroughly competent and experienced 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 vicinity of the mine, and -j the Government have now in progress a line of road which will connect the Mount Rangitoto Mines with the main Hokitika road, it is expected that the working of the mine will be conducted with facility and economy. On transferring the property to the proposed company, the promoters will receive 2000 fully paid-up £5 shares, 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 at any of the principal branches of the Bank of New Zealand throughout the colony, or by HENRY YOUNG, Hokitika, Interim Secretary. M O N E Y TO LEND Several sums of Money for Investment Freehold or Leasehold Securities. MOORHOUSE & STAFFORD, Solicitors, Wellington.
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https://paperspast.natlib.govt.nz/newspapers/NZTIM18770206.2.20.5
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New Zealand Times, Volume XXXII, Issue 4953, 6 February 1877, Page 4
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800Page 4 Advertisements Column 5 New Zealand Times, Volume XXXII, Issue 4953, 6 February 1877, Page 4
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