PUHIPUHI SILVER FIELD

Te Aroha News, Volume VII, Issue 451, 5 March 1890, Page 5

PUHIPUHI SILVER FIELD

Whancarei, February 2S. The determination of the Government to throw Puhipuhi open under tho Mining Act has caused great surprise here, as people had been told by Ministers that special regulations were to be framed with the view of granting leases. Quite twenty companies bad been formed, and had prospectors in the forest, and many have discovered good reefs. The change was intended to secure under thirty acre leases. The fact of the forest being opened under the Mining Act, will give every holder of a miner’s right power to peg off one man’s ground and thus split the land up into uselessly small areas. Tho feeling against the Government is more bitter than ever. A quarter share in tho prospectors’ claim changed hands early this week at £l5O, and on Tuesday £450 was offered and refused for a-lialf share. The shares in the Tainatawhinau syndicate, who hold 1,200 acres of freehold on the boundary of Puhipuhi, are quoted at the same value as the prospectors. A company is being formed in Melbourne with a capital of £IOO,OOO to operate on this block. 10,000 shares have been taken up locally. Another silver lode has been found in the prospectors’ working as rich as No. 3 reef. This lode is at the opposite end of the claim.