Page 2 Advertisements Column 2

Thames Star, Volume XII, Issue 3905, 5 July 1881, Page 2

111n 11 in and COMPANY THAMES. under the "Joint Stock Act., 1860." L > £18,000; in 18,000 Each, Nil Paid Up. retain 15,000 Shares, the Public 3,000 Shares, of 15s each, viz. : 10s and 5s on allotment, so raised to be employed out the operations pan y. that any calls will be in that event, they will be the 18,000 shares equally. : (Chairman) f.g.s. ■ EHQ. (Prospector) (Prospector) I < (Prospector) to add to their number. SOMOITOBS: and RICHMOND. PPRK-BANK OF AUSTRALIA. - Seoeetaby : J. R. EANDEESON.

|rf T is proposed taform this Company for the JL purpose of carrying on mining and quartz crushing operations conjointly. The primary object of the Company will be the working and thorough development of the Martha Claim (commonly known as the " Prospectors") situate at Waihi, Upper Thames, and the erection of a battery of 16 head of stampers, which has already been purchased on favorable terms. The loaee, which is held under the " G-old-mining Districts Act," comprises 3 acres 1 rood, 28 perches, and is situated in the centre of the main reef traversing the Pukewha Hill, on which the first discovery of gold was made by the present proprietors of the mine. It is bounded on the west by the Dulcibel and Waititi claims; on the east by the Young Colonial, Liltle Tommy, and Bright.Smile claims; and on the north by the Sunbeam and other mines. In order more fully to describe the situation of the mine, and its advantageous position for economic mining, it may be stated that the Pukewha Hill rises abruptly from the plain beneath to an elevatiou of pome 250 feet, and in its entire length, from eafet to west, it is traversed by the main reef, which averages at the surface from 30 to 40 feet in width ; while theground, which throughout the whole extent of the hill is composed of decomposed tufa and a compact ferruginous clay, without the intrusion of any bard rock whatever, may be driven through by ordinary work at the rate of 12 feet per day, and at a cost of from 3s to 53 per foot. The work at present done on the Martha Claim has been sufficient to fully test its value. The first discovery of gold was made on the northern boundary of the mine, and at this point a tunnel has been driven into the reef' for a distance of 16 feet, the quartz show* ing gold freely and yielding stone, which it is estimated will average, when crushed from 10 to Isozs per ton at lowest estimate. At a point 30 feet below this a second tunnel has been constructed, for a distance of 60 feet, and here the lode, which is about 4 feet in thickness has been cut and stone ef an exceedingly rich character is now being obtained. Altogether the reef has been opened out at no less titan seven separate places within the boundaries of the Martha Claim, and at each point stone averaging 2 to 30z3 per ton has been obtained from the surface. In order to prove the permanent value of these discoveries, a third tunnel has been driven from a low level on the southern boundary of the Claim for a distance of 200 feet. In this level the reef has been traversed through a width of 37 feet, and quartz of an equally rich character as that in the upper levels is being obtained, thus proving payable stone to exist to a depth of over one hundred feet downward from the surface. It is further proposed to open out a low level tunnel (below the third), which will give about 250 font of " baoTis " on the reef. The chavactev of the reef as showing in the lower workings of the Martha claim may thus be described :—lt forms a well-defined, compact body of white friable quartz of over 37 in width, and for a disfanea of 25 feet gold is freely disseminated throughout the stono, while in the richest portion, which extends for about nine feet towards the footwall, the Btone, which shows gold freely, is estimated to yield throughout—taking a low estimatel—from 2ozs. to 30z3. per ton, the gold being of a coarse, nuggety character, and of firat-rate quality. Unlike most formations of its kind, the Waihi reef is entirely free from all deleterious minerals, so that the process of saving the gold may be carried ou with the minimum of lossy Setting aside the present rich character of the stone now being obtained, it is calculated that; from the vast amount of quartz easily accessible and workable at a cheap rate, a percentage of gold equal to an average yield of Bdwts to lOdwts per ton would secure a handsome and permanent dividend. Owing to the friable character of the reef, which requires no blasting, it is estimated that as much as 30 tons of payable quartz could be taken out per day from the present workings of the mine, and that before the erection of the battery at least 1000 tons of stone could be stacked. The cost of mining the stove would not exceed Is 6d per too, and 2s 6d for crushing, would bring the cost per ton of stone put through the machine up to about 4s. It may be further stated that the erection of the Battery and Machinery will not exceed £1500; and/ as the Mine is already sufficiently opened out for the supplying of an adequate quantity of stone to keep the plant going, it is anticipated that no more than onehalf of the amount it is proposed to raise will be required. An eligible water-site has been secured for the erection of the Battery, which is capable of driving 40 head of stampers, and as the reef has already proved to be auriferous for over 2000 feet along its surface, and as many as: eight tunnels are now being driven !o intersect it within the boundaries of different mines, it is proposed to lay down the crushing plant with a view to its gradual extension, for the purpose of carrying on quartz-crush-ing operations on an extensive scale, in connection, with the various mines in the neigh* borhood. Both the geological andj topographical features of the country are admirably adapted for mining in all its branches, and both wood and water are plentiful in the immediate vicinity of the Miae» ' The Directors reserve to themselves the right of commencing operations for the erection of the Battery, as ioon as a sufficient amount of capital shall have been subscribed.

APPLICATIONS FOft SHARES WILL BE RECEIVED BY THE SECRETARY, Wo. 5, INSURANCE BUILDINGS, 'AUCKLAND, UP TILL THE 12th JULY. IN THE ALLOTMENT OP SHARES the DIRECTORS will GIVE PRIORITY TO EARLY APPLICATIONS. A Plan of the Mine and specimens of the Quartz may be seen at the Office of tho Company. ' Bedkkb tuk the' Thames:— L. MfiLHOSli, UOi-