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Inangahua Times, Volume XI, Issue 1778, 3 November 1886, Page 2

The proprietors of the above lease have determined to proceed as promptly as possible to upen op and develop the reef in this ground, the existence of which being of a satisfactorily auriferous character, is shown by the favorable show of sold obtained at various times on the surface on the line of r t ef. The undertaking being of greater magnitude than the means of the present proprietors will allow— though of small extent in the ease of a company— as proposed, offer a portion of the Bhares to the public at one shilling per share, and immediately the shares are allotted a meeting of the shareholders will be called to elect a Directory, and the Company will be then Registered and work commenced. This mining lease was formerly known as th* Lucky Hit, the boundaries being identical. It is fair on the line of reef, which ftt its continuous N. and S course contains the Homeward Bonnd mine at its north end, then, successively, sooth the Em-eka, Welcome, Hopeful, Fiery Cross, Walhalla, Just-in Time. Reform, Sooth Hopeful, Chicago, Multum in Parvo, Lone Star. Britannia, Britannia Extended. The first seven of these mines lying north of Boatman's Creek, and the last six south of the Creek, on the high range between Boatman's Creek and the L«jft-hnnd Branch of the Inangahua. The success of many of these mines being s.» well known, it requires no particular : account of here, beyond pointing out the fact that the mining leases south of the Creek have during the last few months only, had any attention paid to them in the way of prospecting, and that only of a , limite.l nature, compatible with the means jof smalt parties of prospectors. The suc- | cess of these limited operations has been j demonstrated, nota!»ly in the case <»f the ■ L>ne Star, which mine lies south about ; 400 feet of the Chicago. The Lone Star by a comparatively small expenditure have opened a mine the market value of which at present is £6000, (ride late sales), and donbtless with judicious expenditure of a small atno'tnt of capital on other leases in i that locality similarly satisfactory results ! are to be obtained, and the wealth of this hitherto m"_'lecred portion of the Peatman's line of rt>ef brought to light to the benefit of the adventurers.

The grade of the surface in the Chicago allows the reef to he prospected Ky abort tunnels— & great advantage over shaft woi kinjjs. A tramway about 20 chains in length would make connection with the Justin-Time and FiYry Cross batteries, where crushing could be performed at a> moderate charge. The length of the lease on the line of reef is 1,100 feet, and it wm pegged off with the view to contain the reef at lower levels, allowing for strikeand underlie. The deed of lease from th» Government has been executed, and will be deposited with the undersigned as agert for the proprietors, to be transferred to the company on its registration.

Shares will be allotted by the agent as they are applied for, therefore intending investors will do well to apply promptly. AH applications mnst be accompanied by a deposit of one shilling per share.

Messrs Deacon and Co., Wellington ; James Henderson, Christcharch : A. G. Fenwick, Dunedin : Z^flTrtoy Borne, Westport ; and O. W. Moss, Greymonth, Bharehrokers. are empowered to receive applications (with deposit) for shares, such applications being subject to allotment in the or ler they are received by the agent until the number to he i*suul have been subscribed for. Any application through any Reef ton snarebrok»»r will have the same attention, or applications may be made direct to the nmlerwned, W. G. COLLINGS, Sharebroker. Reefton. Agent for the Proprietors. Reefton, November 2nd, 1886.