CAMERON'S GOLD DREDGING COMPANY.

Greymouth Evening Star, Volume XXXI, 9 August 1901, Page 4

CAMERON'S GOLD DREDGING COMPANY.

The following circular has heen issued by the Directors to shareholders: — You are doubtlessly aware that boring operations in connection with the above Company's claim had been authorised by your Directors, who now report that their instructions have been carried into effect. Messrs Cutten Bros, were entrusted with the work for the purpose of S respecting your property, and your >irectors are pleased to state that the results of the prospects are satisfactory, and have much pleasure in submitting Messrs. Cutten Bros.' report. In view of the depressed state of the dredging industry, and the heavy obligations ox meeting calls necessitated by dredges in course of erection, your Directors haTe deemed it prudent, in the meantime, to postpone ordering the dredge. They have been further actuated in their decision by the possibility oi acquiring cheaply one of the new dredge plants under construction. Messrs Cutten Brothers, who prospects 1 the claim, have reported as follows :

Four bores were put down at positions •hown on plan accompanying this report. No. 1 near the upper peg bounding Cameron's track, passed through 5 feet of tailings and silt, 4 feet free gravel carrying gold, then 11 feet of firm gravels improving in prospects on to a soft sandstone bottom at a total depth of 20 feet. Contents of bore 1700 cubic inches. Gold result 'B9 grains, or equivalent to 24*4 grains per cubic yard. No. 2 bore near upper peg New River Boundary, passed through 15 feet of rough stoney gravel carrying gold from surface to bottom. Contents of bore 1,275 cubic inches. Gold result '27 grains equal to 9'86 grains per cubic yard. No. 3 Bore near lower -peg, Cameron's track boundary passed through 18 feet of tight wash carrying gold, 4 feet of. clayey gravel containing rougher sample of gold. Total depth 22 feet lying on blue marine clay bottom. Contents of bore 1,870 cubic inches. Gold result .23 grains, equivalent to 192 grains per yard. No. 4 bore near lower peg New River boundary passed through 11 feet of gravel carrying gold ; this with 5 feet of soil making a total depth of 16 feet on to a soft sandstone bottom. Contents of bore 1,360 cubic inches. Gold result *23 grains, equal to 7'89 grains per cubic In calculating these tests no allowance is made for stones, the value per cubic yard being based on the assumption that the surrounding gravels are of the same worth as that extracted from the b re. No large boulders or buried timber were met with ; the gravels were found yery tight, but easily dredgeable with a properly designed machine. As you are aware the area consists of timbered flats, having a frontage to the New River.