THE KOH-I-NOOR GOLD DREDGING COMPANY, LIMITED.

Greymouth Evening Star, Volume XXXI, 4 July 1901, Page 4

THE KOH-I-NOOR GOLD DREDGING COMPANY, LIMITED.

The following is the report of Mr Wardell, Chairman of Directors to the shareholders in the above company:— The Direcsors in May took advantage of th- presence of Mr Maynardand his Kovstoae Boring Machine at Rrsa to find the depth in untested paris of the Koh-i-nor claim.

Mr Maynard's report is now to hand and shows the bottom referred to in Mr Grimmond's original report, at 37ift, to be only a false bottom and that much richer wash (up to Bdwts per yard) below. The following are results of bores already put down : No 1 bore—Tod to 56ft. Average—15grs per yard. No 2 bore—Top to 58ft. Average sfgrs per yard. No 3 bora —Top to 67ft. . Average 2dwt 4!}grs per yard. No 4 bore-Top to 42ft. Average LHgrs per yard.

Mr Maynard is of opiaion that on account of great depth and uniform richness of ground the area of the claim is sufficient for two dredges, and advises that the present dredge, which will work to a depth of 43ft to 45ft, should work the shallow area up Redman's Creek, and that another dredge be constructed to work the deep giound.

In No. 3 bore he found an exceptionally rich layer of wash 6ffc thick on a false bottom 56ft from surface, yielding Bi|dwti to the yard, and he expresses the opinion that this layer may exist throughout the lower half of the ol'aim. The first two bores were, however, not driven deep enough to prove tbia. The deep ground, he suggests, should be worked by the second dredge. Further boriDg is being done up Redman's Creek.

The construction of the present dredge is boing vigorously prosecuted, and it is anticipated that she will be at work about the end of the year. The question of building a se.cond dredge will be submitted to shareholders at the Annual Meeting.