THE WAIPORI QUARTZ MINING COMPANY.

Tuapeka Times, Volume VII, Issue 350, 25 April 1874, Page 3

THE WAIPORI QUARTZ MINING COMPANY.

Most of our readers who were resident in the neighborhood in 1863 will remember the Taame of the first quartz crushing company started in Otago — the Otago Pioneer Co. — 'and the splendid yields obtained from the

'mine at Waipori i6t the first year or two after starting the XDbmpa^y. From January, 1863, to January, 1867, 8514 tons were '-crushed, averaging 12ilwts. to the ton, and "yielding 51110z5., or nearly £19,000 worth of gold. Then we know hbw the Company got "into difuc'uMes through having made no reserve in the day of prosperity ; and when deeper sinking and increased water necessitated more powerful machiney and a greater 'outlay, calls had to be made, i shareholders "grew frightened, and the .mine was virtually Prior to this various schemes had been proposed for working the mine. A ■tunnel from "the Waipori township side was mooted, aud a survey made 6f tlie line of race from the Waipori now being constructed by 'the new Company. Had some £3000 out of

the amount declared in dividends been set "apart for the latter work, and an ample water power secured, the mine might have been paving steady dividends to this day. We next find the mifie in the hands of Dunedin capitalists, who proceeded to erect powerful machinery, ans, fading a weekly expenditure of nearly £30 f©r coal and timber, the mine "started again, after a largo expenditure in sinking and fitting a new shaft. From a "return given in the prospectus of the new 'Company, we find that in 9 months 3015 tons 'of quartz and mullock jieldcd 12970z5., to the value of say £4800. The work, however, was prosecuted at a loss, owing to the large amount expended in timber and cb.il, and the necessity For sinking a deeper level, and the Coin"pany ceased operations. Up to this time it must be remembered the Company had been ■working on a block of stone under 300 feet long, and this the*y had worked; to a depth of -^60 feet. Since ceasing operations on this ''block, the Company commenced prospecting on the northern extension of the line of reef, raid soon hit upon a good run of gold-bearing "stone at the surface ; they theft took in a drive at some depth, and cut the same reef, shewing prospects, and subsequently, in the words of their prospectus, " cut the reef in *ix places down the creek for 700 yards, facing the township of Waipori." Thus they •have every prospect of cheaply working the '■mine for some time by a tunnel with a stope "of over 2oo feel.

As to the prospects obtained, we understand that wherever the reef has been cut it -is considered payable. At one place where a "winie was sunk "an extraordinary rich pooket .of quartz was obtained ; and at the time . Captain Hutton visited the winze there was a large slab of quartz on the footwall exposed to view, fairly sprinkled all over with rough •'gold. 'Captain Hutton was most favorably impressed with the value of the claim and the definition of the reef, and said that if it were at the Thames 20 heads of stampers

'"would soon be erected on the spot, and the Shares go to a premium immediately. We predict for this Company a career of 'success, provided care is taken to open up Uhe mine in a systematic manner and to secure good management. There ie every probability *that this reef will be found to farm a series

'•■of blocks tapering at each end, and separated by intervening barren spaces on the line of .^the lode. The fact that payable prospects have been obtained on what ia supposed to be the continuation of the lode outside the Company's claim both north and south favors *Tfchis view. Meters. Thompson, the holders '-of these latter claims, took last Wednesday a '.parcel of two tons of quartz to the Gabriels Co.'s battery for a trial crushing.