GOLDEN TREASURE.

Inangahua Times, Volume II, Issue II, 7 March 1881, Page 2

GOLDEN TREASURE.

The crushing, which is now being done, will be finished by the latter end of next week, when about 60 tons from the winze, and about SO tons from the south part of the mine will have been treated. That from the winze looks like ounce stone, but as the crushing comprises also a poorer lot it is not probable that the cleaning up will realise more than about 100 ozs. The show on the tables at present would indicate that amount as the result. This will enable 'the directors to pay oft the balance remaining unpaid on the plant, and leave a margin for expenses. The periodical payments towards the liquidation of the machinery have been a heavy drag on the company hitherto, and have prevented them from prosecuting the work of the mine with that dispatch which the position of the claim and the prospects warranted, but as this outlay will now soon cease, more extensive works will be taken in hand. The company were also to some extent hemmed in by the Comstock leasehold, an angle of which cut right into the treasure ground in the direction where the line of reef was being followed, but this obstacle is also removed . by the judicious purchase of the Comstock claim, which was effected a few days ago. Only a few hands have of late been employed in the mine, sinking the winze and extending the low level north. This latter work has been carried on through a sand stone bar, which cut off the reef about 17 or 20 feet back, but as the track of \he reef remained no doubts were entertained of the reef making again. In (he beginning of the week indications pointed to the probability of this happcuir.g soon, and were a day or two ago

proved to be correct, inasmuch that a good solid gold-bearing lode of from 3 to 4 feet was struck possessing every appearance of permanency. Gold can be seen easily in the stone, which is now being followed. There is no doubt as to the importance of the discovery, but it will take a few days before its relative merit will have been ascertained. In the meantime, the company is to be con* gratulated upon the foresight exhibited in. acquiring the Comstock property, as otherwise the late discovery would have, .been of very little value. The sinking of the winze is now left standing over until the present crushing is finished, after which more hands will be put on to enable sinking and driving to be carried on simultaneously, by means of which the mine will be placed in such order that stone may be easily obtained for keeping the mill going for some time to come. \