Page 4 Advertisements Column 1

Thames Star, Volume XII, Issue 3906, 6 July 1881, Page 4

Companies THE MARTHA (NO. 1) GOLDMINING AND QUARTZ CRUSHING COMPANY (Limited), WAIHI, UPPER THAMES. To bo Registered under the "Joint Stock : Companies Act, I860." Nominal Capital, £18,000; in 18,000 Shares op £1 Each, Nil Paid Up. The Promoters retain 15,000 Shares, . and, offer to the Publics 3,000 Shares, at a premium of 15s each, viz.: 10s on application, and 5s on allotment, the amount so raised to be employed , solely for carrying out the operations of the 1 Company. It is not anticipated that any calls will be ' 'made, but, in that event, they will be payable on the 18,000 shares equally. Dibegxobs: (Chairman) J. H. NICHOLLS, F.G.S. N. Gk LENNOX, Esq. W. NICHOLL (Prospector) B. MAJUREY (Prospector) R. NICHOLL (Prospector) With power to add to their number. . . , SOMCITOBS: Messrs HESKETH and RICHMOND. Bankers: UNION BANK OF AUSTRALIA. Seobbtabt : J. R. EANDERSON. IT is proposed to form this Company for the 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 (coomonly 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 lease, which is held under the " Goldmining Districts Act," comprises 3 acreß 1 j 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 gome 250 feet, and in its entire length, from east to west, it is traversed by the main reef, which averages at the surface from 30 to 40 feet in width; while the ground, which-throughout the whole extent of the hill is composed of decomposed tufa and a compact ferruginous clay, without the intrusion of any hard rock whatever, may foe driven through by ordinary work at the rate of 12 feet per day, and at a cost of from 3s to 5$ 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 showing gold freely and yielding stone, which it is estimated will average, when crushed from 10 to loozs 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 do less tkan seven separate places within the boundaries of the Martha Claim, and at each point stone averaging 2 to 3oza 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 farther proposed to open out a low level tunnel (below the third), which will give about 250 feet of " backs " on the reef. ■ The character of the reef as showing in the lower workings of the Martba claim may thus be described :—lt forms a well-defined, compact body of white friable quartz of over 37 in width, and for a distance of 25 feet gold is freely disseminated throughout the Btone, while in the richest portion, which extends for -, about nine feet towards the footwall, the stone, which shows gold freely, is estimated to yield throughout—takiDg a low estimate—from 2czs. 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 Hiineralß, so that the process of saving the gold may be carried on with the minimum of loss. 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 equalto an average yield of Bdwts to lOdwts per ton would secure a handsome and permanent dividend. : Owing to the friable nharacter of the reef, which requires no it. is .estimated that as much as 30 tons of payable quartz could batajten out per day'frona 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 stone would not exceed Is 6d per ton, and 2s 6d for crushing, would bring the cost per ton of etOne 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 to 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 neighborhood. Both the geological and 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 Mine. The Directors reserve to themselves the right of commencing operations for the erection of the Battery, as soon as a sufficient amount of capital shall have been subscribed. APPLICATIONS FOB, SHARES WILL BE RECEIVED BY THE BECRETARY, No. 5, INSURANCE BUILDINGS, AUCKLAND, UP TILL THE 12th JULY. IN THE ALLOTMENT OF SHARES the DIRECTORS will GIVE PRIORITY TO BABLY APPLICATIONS. A Plan of the Mine and specimens of the Quartz may be seen at the Office of the Company. Bsoxsb job the Thames :—- " ■] L. MBLHOSB, Es«. I