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Gisborne Standard and Cook County Gazette, Volume III, Issue 316, 25 June 1889, Page 2

Very considerable interest has been aroused in Auckland and Thames mining circles by the announcement of the discovery of promising auriferous reefs at various points on the Coromandel Peninsula, between Mercury Bay and Whangapoua, extending almost across the peninsula between the two bays, and removed only a comparatively short distance from the eastern sea-coast. The finds are at Koatuna (the principal one), Otama, and Matarangi. A representative of a Sydney mining syndicate is already on the ground watching the progress of operations, and a number of Thames miners have gone over to prospect and mark out claims. The prospects appear to be very good, although there is no foundation for the reports circulated regarding largo offers having been made for interests [in the locality of the finds. It is the opinion of mining experts that if the present surface show of gold continues down, the discovery will turn out to be a very good thing. Reliable information regarding the finds is given by Mr A. J. Cadman, M.H.R., who visited the localities twice recently, on the last occasion being accompanied by Captain Hodge. The principal find is at Koatuna, on the peninsula between Whangapona and Mercury Bay, and is about three hours' ride from the latter place. The two most important claims are those of Thompson and party, and a Maori named Coffin, who discovered the mine. The surface show so far is really * very good one. The reefs are large, and peculiar feature is that there are no bpsmH mens, the gold being distributed throughout — the stone. The district is very favorably situated for mining purposes. No pumping machinery would be required, while backs on the reef oould be got for a height of 400 or 000 ft. with very short tunnels. There seems to be abundant water power for machinery adjacent to the mines. The two other places where claims are being worked are also welt worth inspection by investors, prospectors, and miners. One is at Otama, one mile from the coast, and the other is at Matarangi, about the same distance in another direction. The prospects of these workings are regarded as very satisfactory, although not so good as those at Koatuna. Mr Cadman has specimens of stone from all the claims at his place at Coromandel, which have exciton a great deal of interest amongst minors and prospectors. No proper crashing of stone has yet been made. About 90 tons of quartz were stacked on the Otama beach about a fortnight ago, but a very heavy sea coming in swept, neatly the whole of it away last Saturday week. Thompson and party at Koatuna have arranged to have 25 tons ot stuff shipped to the Thames for treatment, and the result will be waited with the greatest interest. . We were to day shown pieces of stone ob, tained from the reef in Coffin's mine by Mr A Smith, ot Mercury Bay. The stone shows colours of gold fairly distributed through ths stone, but not in patches. Mr Smith informs us that the gold is to be seen in the same proportion through the reef, the latter being 4ft. The value of the stone, he ssys, is simply a matter ot conjeoturs at the present time, no crushing having yet taken place. We believe that Captain Hodge of Coromandel had a picked piece of ordinary stone assayed, and it gave a return of 158 ounces of gold and 57 ounces silver, and the general opinion amongst experts in the districts is that at the very least the ordinary stuff will give from ten to twenty ounces of gold to the ton. There is a very large area of ground available for miners, with the same reef running through it for miles around, and every few days payable quartz is being discovered. There are about fifty men working at Koatuna, where there are already twelve claims in operation, and Mr Smith believes that in twelve months’ time there will bo hundreds of men at work there. What is wanted at tbs present time is machinery to allow the treatment of quartz on the ground, Already what may almost bo termed a rush has set in to the place, which is, undoubtedly, a promising goldfield, and likely to be the centre of extensive operations in the near future.—Thursday's Auckland Star.