Page 3 Advertisements Column 2

Waikato Times, Volume XVI, Issue 1403, 30 June 1881, Page 3

Notices.

rTIHE MARTHA (NO. 1) GOLD. 1 MINING AND QUARTZ CRtTSHING- COMPANY . (LIMITED). WAIHI, UPPER THAMES. To be registered under the " Joint Stock Companies Act, 1860." NOMINAL CAPITAL, £18,000; IN 18,000 SHARES OF £1 EACH, NIL PAID UP. The Proprietors offer to the Public 3000 of the above shares at 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 Company.

Directors : (Chairman) : J. H. NICHOLLS, F.G.S. . N. G. LENNOX, ESQ. R. MAJUREY, (Prospector). W.NICHOLL (Prospector). R.NICHOLL (Prospector). With power to add to their number. Solicitors : MESSRS. HESKETH and RICHMORD. Bankers : UNION BANK OP AUSTRALIA. Secretary : J. R. RANDERSON.

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 (commonly known as the "Prospectors"'), situate at Waihi, Upper Thames, and the erection of a battery of 16 head of Htampers, which has already been purchased by the Proprietors on favourable terms. The lease, which is held under the "Gold-mining Districts Act " comprises 3 acres, 1 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 Waitite claims ; on the east by the Young Co'onial, Little 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 elevation of some 250 foet, 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 bill is composed of decomposed tufa and a compact ferruginous without the intrusion of any hardrock clay, whatever, may be driven through by ordinary work at the rate of 12 feet per day, and at a cost of from 3s to 5s per ' foot. The work at pre&ent done on the Martha Claim has been sufficient to fully test its value. The first discovery ot 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 15oz8 per ton at lowest estimates . 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 beej cut and stone of an exceedingly rich character is now being obtained. Altogether the reef has been opened out at no less that seven peparate places with the boundaries of the Martha Claim, and at each point stone averaging 2 to 3ozs 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 a depth of over one hundtedfeet downward from the surface* \ ' j It is further proposed to open 1 out a low level tunnel (below tljeihird), which will give 'about 250 feet of ''''backs " dn the reef. The character of the reef as showing in the lower workings of the Martha claim may thus be described :— lt forms a welldefined, compact body , of white friable quartz of over, 37 feet in width, and for a distance of 25 feet gold freely disseminated throughout the stone, while in the riche st portion, which extends for about nine feet towards the footwall, the stone, which shows gold freely, is estimated to yield throughout — takinga low estimate — from 2ozs, to 3ozs. per ton, the gold being of a coarse, nuggety character, and of fir3t-rate quality. Unlike most formations of its kind, th p Waihi reef is entirely free from all deleterious minerals, 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 equal to an average yield of Bdwts to lOdwts, per ton would secure a handsome and permanent dividend. Owing to the friable character of the reef, which requires no blasting, it is estimated that as much as 30 tons of payable quartz. could be T takeh out per day from the present workings of , the mine, and that before the erection of the Battery at lest (1000 ( 1000 tons of stone could be stacked. i ' The cost of mining the stone would not exceed Is 6d per ton, and 2s 6d for crushing, would brine the cost pet ton of stone put through the machine up to about is. ' 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 i quantity oi stone to keep the plant going, it is anticipated that no more than the amount it is proposed to raise will be required. An eligible water-site has been secured for the erection of ]bhe Battery, which is capable of driving 40 head of stampers, and as the reef has already proved to be auriferons for over 2000 feet along its surface, and as many as eight tnimels are now being -driven to' interse6t it within the boundaries >of different mines, it is proposed to lay down the crushing plaut with a view to its gradual , extension, for the purpose- of. carrying lon ic/uartz-crush-ing operations on an i extensive (scale, in connection with the various mines in the neighbourhood. ,>, . ..r-", Both the' geological, and typographical features, o& tie country *re;iidnur:abiy adapted for mining in all its branches, and both WQbif jmd Water ,«&& $i<frttt4lf int'tbfl immediate vicinity of the Mine. , TheiJH®e!»r*rg6erve to themselves the ,wSw t ;p i | J .coin|nendng'# operations for the "breetiotfTjf'the Bkttery, as soon as snffioiept amount of- capftal shall have been

APK.IOATIONS FOB 6HAE3S3 WILL 9Q £H«