MINING MEMORANDA.
Forty-eightcompanies, with 1,888,870 shares, were registered at Bendigo lately in a single week.
The quartz reefs in the Inangahua district, up" the Grey Valley, West Coast Goldiields, are turning out wonderfully well. A private telegram received on the 18th, states that from the indications discovered along the whole line of reef — some three miles — it is probable that the district will prove a second Thames. No machinery is at work as yet, but a heavy plant is being erected, and a large quantity of stone is awaiting crushing. Indiscriminate selections of the stone have been tested in parcels of 5 cwt. and upwards, at the Bank of New Zealand, Hokitika, and proved to average from 4oz. to 7oz. per ton. Should half this yield be maintained, an enormously rich goldfield will be opened up. Colonel M'Donnell recentl) returned from a visit to the Upper Wanganui, and reports favourably of the prospect of a gold-field there.
Theresultof 6 weekscrushingof quartz at the Lyell, West Coast, was 297oz=i. It was estimated that about 20 tons a week were crushed,
It is said that some wonderfully rich stone, capable of yielding as much as 70 ozs. to the ton, has been discovered in Shiels's reef. West Colisc.
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Tuapeka Times, Volume III, Issue 207, 18 January 1872, Page 7
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206MINING MEMORANDA. Tuapeka Times, Volume III, Issue 207, 18 January 1872, Page 7
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