![]() ![]() In the South Island the alluvial deposits are of enormous extent and value, indeed with the exception of Canterbury, where gold has not been found in paying quantities, almost the whole area is distinctly auriferous. The perpetrator of the swindle was not discovered. ![]() On analysing the bullion it was found to contain far less silver than is usual in gold from this province, and to be identical, in fact, with the British gold coins in common use Subsequent microscopic investigation revealed the fact that so far from being water-worn the metallic fragments were spiral shavings such as might have been rubbed off a sovereign with a file. Shares went up to double their nominal value, and scientific experts, who visited the ground, were most enthusiastic. Thousands of acres of similar rock occur, and a company was formed to purchase 1,000 acres of land. During the year 1887 enormous excitement was caused in Auckland by the discovery, in a recent rhyolitic breccia, of a considerable percentage of gold. In the North Island alluvial mining is not carried on to any appreciable extent. ![]()
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