PUHIPUHI SILVER.

Te Aroha News, Volume VII, Issue 440, 25 January 1890, Page 5

PUHIPUHI SILVER.

COMPANY TO BE FLOATED. AUSTRALIAN CAPITAL. A company is to be formed to work the prospectors’ claim at the Puhipuhi silver field, and it is proposed to in reduce Australian capital if prac icable. One of the passengers for Sydney by the s.s. Te Anau last evening was Mr J. Fitzsimons, late of Greymouth, who has a commission to float a company in Sydney to work the prospectors’ claim. He took with him samples of Puhipuhi silver treated at the Thames School of Mines, and quartz showing metallic and ruby si ver. The new company will include 75.000 shares ot £1 each, 30,000 shares and £IO,OOO to be reserved for the promoters. The present provisional directors are Messrs Barton, Bain, and Brown, of Whangarei. It is stated that the claim can be worked with the greatest facility. There is close to sufficient water-power to crush 1000 tons of quartz per week. Mr Gordon, Government Inspector of Mines, who arrived from Wellington on Monday, left last evening for Wnangarei by the steamer Wellington, for the purpose of inspecting and reporting on discoveries of silver ore in the Puhipuhi district. He has general instructions from the Government to report on the nature of the finds with a view to enabling the Government to decide whether they shall proclaim the distret open for mining purposes, or shall continue the present prospecting license system.