MINING NEWS. THE NEW GOLD FINDS. ENCOURAGING. PROSPECTS. A RICH ASSAY.

Te Aroha News, Volume VII, Issue 379, 22 June 1889, Page 5

MINING NEWS. THE NEW GOLD FINDS. ENCOURAGING. PROSPECTS. A RICH ASSAY.

Very considerable interest has been aroused in Auckland and Thames mining circles by the announcement of the discovery of promising auriferous ' reefs at various points on the Coromandel Peninsula, between Mercury Bay and Whangapoua, extending almost across the peninsula between the two bays, and removed only a c omparatively short distance from the eastern sea-coast. The finds are at Koatuna (tho principal one), Otama, and Matarangi. A representative of a Sydney mining syndicate is already on the ground watching .the progress of operations, and a number of Thames miners have gone over to prospect and mark out claims. The prospects appear to be very good, although theie is no foundation for the reports circulated regarding large offeis having been made for interests in the locality of the finds. It is the opinion of mining experts that if the present surface show of gold continues down, the discovery will turn out to be a very good thing. Reliable information regarding the finds is ghen by Air A. J. Cadman, M.H.R , who visited the localities twice recently, on the last occasion being accompanied by Captain Hodge. The principal find is at Koatuna, on the peninsular between Whangapoua and Mercury Bay, and is about three hours' ride from the latter place. The two mosb important claims are those of Thompson and party, and a Maori named Coffin, who discovered the mine. The surface show so far is really a very good one. The reefs are large, and a peculiar feature is that there are no specimens, the gold being distributed throughout tho stone. The district is very favourably situated for mining purposes. No pumping machinery would be required, while backs on the reef could be got for a height of 400 or 500 ft. with very short tunnels. There seems to be abundant water power for machinery adjacent to the mines. . The two other places where claims are being worked are also well worth inspection by investors, prospectors, and miners. One is at Otama, one mile from the coast, and the other is at Matarangi, about the same distance in another direction. The prospects of these workings are regarded as very satisfactory, although not so good as those at Koa tun a. Mr Cadman has specimens of stone from all the claims at his place at Coromandel, which have excited a great deal of interest amongst miners and prospectors. No proper crushing of stone has yet been made. About 20 tons of quartz were stacked on the Otama beach about a fortnight ago, but a Tery heavy sea coming in swept nearly the whole of it away last Saturday week. Thompson and party at Koatuna have arranged to have 25 tons of stuff shipped to the Thames for treatment, and the result will be awaited with the greatest interest. Just now the foreman of works of the County Council is atKoatunalayingoutaline of rpad from Mercury Bay across the peninsula to the sea coast at Otama, which will tap both the Koatuna and Otama finds, and assist very materially in the opening up of the gold-bearing localities. Further news from the peninsula will be awaited by all with interest. At present we can advise prospectors and men experienced in gold mining that they need have not the least hesitation in going down to the district and inspecting for themselves. The Koatuna find is only three miles from the coast, and the two others are not more than a mile from the sea. j We were to-day shown pieces of a stone obtained from the reef in Coffin's mine by Mr A. Smith, of Mercury Bay. The stove shows colours of gold fairly disti'ibuted through the stone, but not in patches. Mr Smith informs us that the gold is to be seen in the same proportionthroughthe reef, the latter being 4ft. in thickness. The value of the stone, he says, is simply a matter of conjecture at the present time, no crushing having yet taken place. We believe that Captain Hodge of "Ooromandel had a picked piece of the ordinary store assayed, and it gave a return of 158 ounces of "gold and 57 ounces silver, and the general opinion amongst experts in the districts is that at the very least the ordinary stuff will give from ten to twenty ounces of gold to the ton. There is a very large area of ground available for miners, with the same roef running through it for miles around, and every few days payable quartz is being discovered. There ane now about fitty men working at Koatuna, where there are already twelve claims in operation, and Mr Smith believes that in twelve months' time there will be hundreds of men at work there. What is wanted at the present timeis machinery toallowof the treatmenlof quart? on the ground. Already what may almoft be termed a rush has feet in to the place, which is, undoubtedly, a promising goldfiold, and likely to be the centre of extensive operations in the near future.

Thames, June 20. Saxox. — There is no chance to report from No. 5 level of any importance. The No. 2 reef shows good colours of goldi and occasionally a few picked stones are selected from the general dirt. Up to yesterday there was 2440z. of amalgam on hand, so that it will be seen the quartz has not been shaping very well. Lone Hand. — The reef in the, low level is still being stripped. Colours of gold are seen in the stopes." * New Alburnia. — Tributers : Climo and party crushed 20 loads of quart/ for lOoz 14dwt. Irwin and party are putting through a trial parcel of 12 loads which may yield l£oz per load. Jobe and paroy have 19 loads on hand, and 401bs picked stone.