PUHIPUHI GOLD AND SILVER FIELD.

Te Aroha News, Volume VII, Issue 452, 8 March 1890, Page 5

PUHIPUHI GOLD AND SILVER FIELD.

The prospectors have again been fortunate in discovering another reef of silver glance and native silver bearing ore; it is about 3ft 6in wide and is a good compact reef running about N.W. by S.E. The prospectors consider this reef to bo the richest on the field, and believe that when assayed it will come up to, if it does not boat, any stone from this district, which has so far been brought to light. Upon the receipt of tiii3 information from the mine on Thursday morning, Mr Barton, Chairman of the Association, at once telegraphed to the gentlemen in Sydney, who were managing their business for them, to the ellect that the Association did not wish them to float the Company unless they could do so on better terms than at first intended, and on Saturday morning the Secretary received information that no negotiations had been entered into, so the floating of the Company is therefore, at present, at an end. The Association intend putting on more men and opening up the reefs, and further developing the mine, before taking any further steps in the direction of the formation of a syndicate, as they now think that their property i 3 far more valuable than the most hopeful amongst them at first considered it to be. The members of the Taumatahinau Company are now thinking they are asking too little for their land, as the reefs are every day being proved to run direct into their property, but they cannot stop the formation of their Company, as the gentleman who has charge of the floating of their syndicate has already disposed of 10,000 shares.

A plan has been made by Messrs G. Clark-Walker and William Wilson, two of the original Puhipuhi prospectors, and as they have been over the ground for morfe than two years, and Mr Wilson is the discoverer of many of the most valuable reefs in the forest, including the last valuable find, they should be pretty correct- in placing the reefs, creeks, etc., as shown therein.