THE WAITOA DISCOVERY.
Excellent Prospects.
Three tons of stuff obtained from various holes sunk on Mr J. I>. Smith's property were tested at Mr C. Frasers Foundry, Mechanic's Bay. Complete tests were made by assay, and by the practical te&t of the pans, with the result that the value of the stufl" was estimated at £2 14s per ton. The avei.i^e value of the bullion, as determined at the Bank of New Zealand, is £3 12s 6d per ion. it is understood that a Company will be floated in Christchurch to work this lmd, and it is stated that Mr Smith h<i-> been offered -£14,000 for 1,000 acres (the half) of his estate, and 1,000 paid-up ohaien in the Company when floated.
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Te Aroha News, Volume V, Issue 220, 17 September 1887, Page 4
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122THE WAITOA DISCOVERY. Excellent Prospects. Te Aroha News, Volume V, Issue 220, 17 September 1887, Page 4
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