WAIKAIA.

Tuapeka Times, Volume VI, Issue 325, 28 January 1874, Page 3

WAIKAIA.

(From our own Correspondent.) After one of the highest floods for several years, the river is down again, and all parties are hard at work. Breakages have been repaired, and rapid progress is being made stripping paddocks, and I have no doubt but that in a few weeks, if , the river keeps down, I shall have to record some heavy finds. Another claim (The Royal Standard) has bottomed at 8 feet, and although they are not in the deep ground, they have payable prospects, namely, a pennyweight to the dish. This claim is about a mile below the .Anglo-Swiss, which, strengthens. the supposition that, as the workings extend further down the river, the ground will increase in richness, as the AngloSwiss did not obtain any gold of consequence until they reached the deep ground ; whereas, the Royal Standard has it on the reef in payable quantities. Boyles party', or the Golden Gate, situated between the Royal Standard and the Anglo-Swiss claims, were on the edge of the deep ground when the spring floods set in, and obtained as high as 15dwts. to the dish. They have a large piece of ground walled off, and are now stripping a paddock which will no doubt yield a large amount of the precious metal. Other claims. I will re■port as they bottom, and I have no doubt that in all cases the report will be favorable. I am informed that the Waikaia Gold Mining Company has been successfully floated. I have hitherto refrained from commenting on the prospects of this Company, which" might have been misconstrued by the public, as without prejudice I was conscientiously bound to report favorably of the undertaking, believing, as I do, that the whole of the Upper Waikaia will eventually pay all parties interested handsomely. The ground taken up by the Company is situated* about a mile down the river from the Royal Standard, and immediately below the junction of another auriferous river, the Gorge Creek, which, although it will increase the quantity of water the Company will have to contend with, will add also to the auriferous deposits in the Company's ground. There is a large extent of the river below the Company's claim that is not yet taken up, which will be available for companies ; for, liko the Company's ground, it cannot be worked profitably by small parties, on account of the large quantity of water, or it would have been worked long ago, as it is well-known to be highly auriferous. With an eye to the limited space at your command, I must leave any further notice of the Waikaia until my next. At the Whitecombe there are 'several parties at work, and as they do not complain, I conclude they are satisfied. The Christmas sports passed off satisfactorily, and with the exception of a few headaches, induced by a too free indulgence of " Mr. Hennessy," I heard no complamts. I am informed that the litigation pending over the Angle-Swiss claim has ceased, an arrangement having been effected.