PAST, PRESENT, AND FUTURE.

Thames Star, Volume XVII, Issue 5252, 17 November 1885, Page 2

PAST, PRESENT, AND FUTURE.

J.Bx Gbossbeef.]

{Concluded.)

But the great drawback upon this field is the want of money to carry on prospect* iog operations. There is not sufficient prospecting done even in the ground adjacent to the mines from which rich golden stone has been obtained. For instance : The Cambria was at one time a portion of the Nonpariel Co.'s ground, and althongh that company paid handsome dividends, they nerer attempted to prospect the largest portion of their holding, but confined operations to that portion of the mine which they knew to be payable; and some time afterwarJs, when it was considered worked bat, the claim was sold to the Moanatairi Co., who, however, in order to save a few pounds a year, out off some of the ground which the Cambria now holds, and which has proved itself to be the best portion of the holding. But it appears to be the fault with nearly every company which strikes good gold, and is enabled to pay dividends—a sufficient reserve fund is not kept with which to carry on prospecting when the rich gold is exhausted, and consequently the amount of work done afterwards is generally somewhat limited. A considerable amount of prospecting has been carried on at the 640 ft level of the Caledonian Low Level, but, unfortunately, without anything payable being found, though the prospects have at times been most encouraging, and would certainly favor the belief that gold exists at this depth. A few months ago the Queen of Beauty Co. sunk their shaft another level, making the total depth 670 ft, but when the reef was looking most promising, a portion of the pumping gear suddenly gave way, necessitating an outlay of more than the company was in a position to expend, and work was consequently suspended. Good colors of gold were seen in the quartz in places, while the sandstone was also of a favorable description for gold. But, owing to the expense of carrying on operations at deep levels, I think it would be advisable to purchase a diamond drill, and in future carry on operations solely by its aid, when.werea payable reef intersected,means might afterwards be taken for opening out upon it. But with tba immense area yet awaiting development, extending as it does from Coromandel to Te Aroha, and containing gold, silver, lead, and various earths and clays suitable for the potter and pigment manufacturer, the future prosperity of the pen* insula are well assured. With tbe almost daily discoveries of new argentiferous lodes to the north and south of the Thames proper, no country offers better inducements for the investment of capital in mining than this, section of the, Auckland province, when one takes into ■ consideration the comparatively small amount of actual deep sinking which has been done. The capital hitherto ex* pended upon the field has been almost entirely what may be termed provincial, and with so little outside assistance, the wonder is that so much has been accomplished. With the experience gained in the past, the knowledge of gold and silver bearing rocks is very much to the ad ran* tage of the future prospector, and Ihe search for ores is more systematic, and not' the haphazard undertaking it has sometimes been in the past, so that those desirous of investing in the field have now considerable advantages compared with those in former times. The Thames is yet in its infancy compared with the amount of gold which I feel sure it will yet produce: the ground is simply awaitiDg development, which can, how ever, only be accomplished by the expenditure of capital, and I feel certain that there will yet be many such instances as the Prince Imperial and Cambria ere the Thames will be found to be exhausted. But although the expenditure of capital is iudispeusible to the success of tbe field, it should be seen that it is judiciously expended in the most likely localities. There is an almost unlimited extent of country surrounding us, uprn which very little work of a practical nature has been.done, yet which there can be no doubt is highly auriferous, and oiily requires prospect ing. The adrrnt of foreign visitors— tbe securing of large areaa mcb as Block

27 for English markets—all tend to prove that foreign capital will yet be invested in the field. A scheme of which I have always entertained a very favorable opinion is that of crcsscutting from the Moanatairi main tunnel in a south-easterly direction for, say, 1500 feet. This work could easily be accomplished, and at comparitively little cost com* pared with the great advantages derivftble by the whole field were rich gold met with, which there seems every probability would be the case, as the the country to be'trafreriid is well-fehbwi to be highly auriferous, several of the reefs worked upon the surface having yielded handsome returns. ,Tbe undertaking could be carried out by means of the rook drill, by the aid of which about 1000 ft. could be driven for some £1503. Most of the gold-bearing lodes run in a northeasterly and sonth-westerly direction, and would therefore be intersected, with every likelihood of being payable if met with in a favorable ola&s of sandstone. Then, again, there is a scheme now on the tapis, and which there is every probability will be successfully floated, fiz.: td work: what is known as the Trenton and Her* cules holdings. Several reports have been submitted as to the best means to carry on operations,, the. best of which appear to be the proposal to cany on operations, from the. Saxon^shaft; oc to sink a new shaft on the Waiotahi side of' the spur in the Hercules ground. To I hose who are acquainted with the goldfield, the proposalto r prospect this portion of the field will no doubt commend itself, as were even payable gold met with in this locality, it would, have, the effect of causing an immense amount of prospecting on the southern side of the Waiotahi creek. For various reasons, however, I think it would be far preferable to sink a new shaft on the spot indicated, for some 350 or 400, feet before opening out. Several of the reefs worked so successfully in the New Prince Imperial run through the ground, and should they be met with in a favorable class of sandstone, would doubtless be payable. The venture is a most legitimate one, and I hope to see it successfully carried out. Another scheme ■which has often been suggested, is that of patting in a main tunnel from, the vicinity of the Karaka creek, and extending it in the direction of Tararu—a work of some magnitude, truly, but one which Government Bight well be asked' to subsidise, as it would certainly benefit the whole goldfield. Up to the present, work has been principally confined to the "flat," though I certainly see no reason why large companies should not be formed to prospect the ground at deep levels in the Waid tahi, Moanatairi, and other creeks. Rich gold has been found at whit may be termed surface levels in the Moanatiiri and Waiotahi, creeks, ait j instance the Alburnia, Black Angel, Red, White, and Blue, Messengers, West Coast, Beehive, Shanrock^ and others, which must have produced some fifty or IOO.OOOozs of gold,xfljnt of it being obtained behind the slide. Then the question naturally arises: does tbe gold go deeper P From the experience gained in the past, I should certainly answer in the affirmative; but little endeavor has been made to solve this problem, though to my mind an effort should at once be made to do so. Why should not the rich gold which has been found here on the surface also exist downwards ? Were deep sinking advocated, it might be contended that water would impede operations ; but why not carry on work from the Moanatairi tunnel as previously indicated, and prospect the country behind the Moanatairi slide P In conclusion, I would again say, endeavor to induce English capitalists to invest in the field, but let the undertakings be legitimate, and not merely for speculative purposes, and I feel sure that the results achieved will induce others to follow their example, and tend to tbe de« velopment of the goldfield.