Page 4 Advertisements Column 4

Waikato Times, Volume XVII, Issue 1405, 5 July 1881, Page 4

Notices.

mHE MARTHA (NO. 1) GOLD1 MINING AND 4UARTZ CRUSHING COMPANY (LIMITED).

WAIHI, UPPER THAMES

To be registered under the u Joint Stock Companies Act, I860."

NOMINAL CAPITAL, £18,000; IN 18,000 SHARES OF £1 EACH, NIL PAID UP.

The Prombters retain 15,000 shares offer to the Public 3000 shares at a premium of 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. It is not anticipated that any calls will be made, but, in that event, they will be payable sn the 18,000 chares equally.

Directors : (Chairman) : J. H. NICHOLL-, F.G.S.

N. G. LENNOX, ESQ. R. MAJUREY, > (Prospector). W.NlCHOLL(Pronpector). R.NICHOLL (Prospector). With power to add to their number. Solicitors : MESSRS. HESKETH and RICHMORD. Bankers : UNION BANK OF AUSTRALIA. Secretary : J. R. RANDERSON.

It is proposed to form this Company for the purpose of carrying- on mining and quartz crushing operations conjointThe primary object of the Company will be the working and thorough development of the Martha Claim (commonly known as the "Prospectors 1 '), "ituate at Waihi, Upper Thames, and the erection of a battery of 16 head of >.tnmperc, which has already been purchased on favourable terms. The lease, which is held under the "Gold-mininar Oistiicts Act " compiises 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 proprietor^ of the mine. Ir 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 dessribe the situation of the mine, and its advantageous position for economic mining, it may be stated thut the l'ukewha 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 hill is composed of decomposed tufa and a compact ferruginous clay, without the intrusion of any hard rouk whatever, may be driven through by ordinary work at tbe rate of 12 feet per d'iy, and at a cost of from 3s to os per foot. The work at present done on the Martha Claim has been '•ufficient to fully test its value. The fir^t discoveiy ot gold was made on the northern boundary of the mine, aud at this point a tunnel has been diiven into tho reef for a distance of 10 feet, the quartz showing gold fioely and yielding stone, which it is estimated will average, when crushed, from 10 to 15ozs per ton at iowest estimated 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 been cut and stone of an exceedingly rich character ia now being obtained. Altogether the reef has been opened out at no less that seven separate places within 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 tho 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, thns provintr payable stone to a depth of over one hundred feet dounward fiom the surface. It i» further proposed to open out alow level tunnel (below the third), which will give about 200 feet of " backs" on the reef. The character of the reef as showing in the lower workings of the Martha claim may thns be described :—lt: — It 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 througout the stone, while in the richest portion, which extends for about nine feet towards the footwall, tho fltone, which shows gold freely, is estimated to yield throughout— taking 1 a low estimate — from 2ozs. to 3ozs. per ton, the gold being of a coarse nuggety character, and of first-rate quality. Unlike most formations of its kind, the 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 <i cheap rate, a percentage of gold equal to an average yield of Bdwts to lOilwts 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 taken out per day from the present workings of the mine, and that before the erection of the Battery at lest 1000 tons of stone could be stacked. Tbe cost of mining the stone would not exceed Is 6d per ton, and 2s 6d for crushing, would bring the cost per ton of stone put through the machine up to about 4s. 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 quantity oi stone to keep the plant going, it is anticipated that not more than one half of the amount it is proposed to raise will be required. An eligible water-site has t been secured for the erection of the Battery, which is capable of driving 40 head of stampers, and as the reef lias already proved to be auriferons for over 2000, feet along its surface, and as many as eight tunnels are now being driven to intersect it within the bbundaries of different mines, it is proposed to lay down the crushing plant with a view to its gradual extension, for the purpose of carrying , on quartz-crush-irig operations on an extensive scale, in connection with the various mines in the neighbourhood,, ll " ,Both the geological and topographical features of ,the country, are, admirably adapted for, mining ,in all its branches, and both 1 wood and water ,arp plentiful in the < immediate vicinity of the Mine. .. i The Directors reserve to themselves fh« ' right 6f oommeaoing 11 operations"' for the