The group formed about two years ago and is hosting its first public talk on Saturday at the Raetihi Cosmopolitan Club.
"We're a group of like minded people who either have a family connection or simply like the area for its history and recreation," chairman Graham West said.
At its peak there would have been up to 40 families living there, including Mr West's grandfather John Aislabie.
"He was in the Battle of the Somme, and had a chunk of shrapnel through his back, basically. He was lucky to survive."
Mr West said there were many schemes like the Mangapurua valley settlement.
"This was sort of famous in that it failed," he said.
"They started to build rudimentary houses and have children. But when it rained heavily the steep hill country eroded and slipped, there were huge problems with roading.
"It wasn't really suitable for pastoral farming."
All that remains today are a few chimneys, bricks and concrete, exotic trees amongst the scrub and clearings of English grasses.
This Saturday's public talk in Raetihi will be by Gavin Brown.
"He has a great knowledge and passion for the valley," Mr West said.
"His grandfather was a settler as well and he and others spent a lot of time digging up the history."
Mr West said most of the children born in the settlement have died and it was important the story was not forgotten.
"It's part of New Zealand's heritage. It's an example of how New Zealand was developed. If we let it pass, it'll pass into Nowhere Land, basically."
There are still tracks to access the area by bicycle or quad bike and the society is working on signage that will give people information about the area, the settlers and what went on there.
"It's not obvious unless someone tells you."
*Gavin Brown's talk on the Mangapurua settlement is on at the Raetihi Cosmopolitan Club at 1pm, July 15. All welcome.