THE WAITOA GOLDFIELD.

Waikato Times, Volume XXIX, Issue 2378, 6 October 1887, Page 2

THE WAITOA GOLDFIELD.

Mr J. B. Smith has been describing the amazement of the Christchurch people when ha first acquainted them with the facts of Ids gold discoveries. Some of the results of Ids tests gave as much as £lO, £!(!, and £l2 per ton. At first the Canterbury folks looked at these amazing assay's with incredulity. However, they became convinced, and soon subscribed the necessary capital for the newly-formed company. Shares are now quoted at £2 premium. Messrs Fraser and Co. will proceed at once with the erection of the plant, which will cost £(!000, am! be capable of treating 403 tons per week. A township is to be laid out on Mr Smith’s property, and workmen’s cottage erected. We understand Mr Gould, whose property adjoins Mr Smith’s, has offered to sell his land, in sections of 100 and 300 acres, at £lO per acre, with the liberty of previous prospecting. The proposals set forth in our leading columns, however, will we venture to affirm, offer superior inducements to him and other landowners. Reports continue to come to hand, showing that the auriferions deposits are being found within an immense area. Mr F. I), Rich, of Patotere, claims to have the same wash dirt on his extensive property, in fact, the strata is being traced as far as Rotoiua. Mr Sinden, of Alexandra, made some experiments before a few Hamilton residents on Tuesday, to demonstrate his process of roasting and reducing quartz, which were highly satisfactory. Mr Sinden says lie could supply his gold-saving machines at as low a coat as £lO, capable of treating twenty tons of Waitoa wash-dirt per day. [RV TELEG It ACI I. —OWN CORRESI'ONDENTS.] Auckland, Wednesday. Mr Fraser has received instructions from the Christchurch Company to manufacture the. machinery for working the gold on Air Smith’s land at. Waitoa. Wellington, Wednesday. There is a great deal of interest in Wellington with regard to the recent, gold discovery at Waitoa, and the Press, which appears to be very well informed with respect to the intention and prospects of the syndicate, published the following paragraph last night“ We hear there is already some very lively plunging in connection with the newly discovered goldfield at I’iako. Mr Smith sold half his properly to a Christchurch company for £14,000, receiving an additional 10,000 paid np shares in the company. These shares, upon which only 2s have been paid, arc now selling freely at £2, and it is believed that they will rise to £3 before there is a check. 'This is making money out of nothing with a vengeance. There is one good thing ; it will stimulate the company to take effective measures for developing the goldfields as soon ns possible.”