Year: 1873

tine Republic-TwO Leagues Of Land


Bought for One Hundred Millions Of


Dollars.


BUENos AYREs, May 22.-I am en-


abled by this mail to send you the par


ticulars, so far as they have yet been


made public, of what, if the account


be true, is the richest gold mine in the


world, and treasure house of the


precious metal surprising in value all


the mines of California combined.
The scene of this great discovery is


IN the Valley of Famatina in the pro-


vinees of Rioja, Argentine Republic,


and the tidings of the almost fabulous


riches unearthed have produced the


greatest excitement here. Wonderful


as are the accounts given of the value


Of the mines, it is the general opinion


that the half is not known even by the
discoverer, and that there is more gold
there than the finder thought at the
time of his negotiating for the sale of
a portion of the tract. The single
fact that a provisional transfer title
has already been drawn up for sale Of
two leagues of this immense auriferous
deposit, by which the vast sum of
500, ,OO0, 600 liz currency is to be paid,
is the best evidence of the confidence
that rs placed in the results of this
discovery.


The great find" has naturally at
tracted the attention of capitalists
and spectators, and while the General
public of Buenos Ayres is engaged in
wondering speculations and comments
as to the probable advantage to La
Plata which may follow an event
which promises to bring among them
a great tide of emigrants and gold
seekers (for the fact Of the immense
undeveloped mineral riches of the Ar
gentine Republic has now been fully
established, it is elaimed), moneyed
men have been quick to turn the dis
covery of the mines to immediate ac-
count. Parties interested have left
here for England, whittier the eyes of
all turn when great financial specula-
tions like this are concerned, to form
eo-partnerships with capitalists to
work the mines or else to float the af-
fair as joint stock company.


The discovery of the mines has been
due!to perseverance, supplemented by
science and a belief in the mineral
riches of the Republic. Some time
since q German. man versed in min
eralogy, came hither from Europe i'm
pressed with the conviction that a
search properly carried out would re-
suit in valuable discoveries m the
northern provinces of the Argentine
Republic


On arriving here he at once repair
ed to those provinces and commenced
a personal survey of the localities
which he thought most likely TO re-
ward his efforts. He went from place
to place pursuing his investigations.
Among the remotest localities visited
by him was the province of Rioja,
mountainous district situated among
and to the eastward of the Andes
Mountains, the northern limit of
which is latitude q deg, and the area
of which extends west to the Andes
from longitude 66 deg. 20 min. To
the north of the Rioja is the province
of Catamarca, to the south San
Juan and San Louis, to the east Cordo-
va, and the western boundary, separat-
ing it from Chill, as the Andes. In
Rioja is situated the Valley of Fama-
tina, fertile only in spots where the
soil is subjected to irrigation by
streams, and of length of about one
hundred and fifty miles by thirty miles
in width. The boundaries of this val
ley are on the west the Famatina range,
and on the east the Velasco range of
mountains. 1t was to this valley that,
led by his wish to examine into the
silver mines that it already contains,
and hoping to make new discoveries in
that quarter, the German finally wend-
ed his way. Reaching Chiloeito, the
principal town of the valley, he enter
ed upon his investigations.


In short while he had established
to his satisfaction the fact of the exis-
tence of gold in the valley. Contin-
ued research revealed the fact that
upon tract belonging to the Govern
ment the precious metal was indeed
there in abundance, and he at once,
without making public the purposes
in view, commenced negotiations for
the purchase of the site He managed
so well that the spot which he hal at
first explored, comprising one league
of land, was sold to him for a very in
significant sum. This first purchase
was followed by another and larger.
one, and in order to include in his bar
gain as much as possible of the rich
deposit land he bought in the three
leagues adjoining. This having been
done the discoverer sent to this city a
full power of attorney, which has only
recently reached here.