MINING REVIVAL

Hokitika Guardian, 30 January 1923, Page 1

MINING REVIVAL

Various indications swim to point to i a revival in gold mining in New Z.\ a- ! land. During the piu-t lift ecu years ] then' have been many false starts, hut ] on the prcscniL occasion there docs i seem to he something solid Lo go on i : -ays the Auckland ‘‘Star.”). The fact that ill Central Otago it is proposed to I (him up the bed of a river lor three : months daring the year to enable work j to i,a carried on tor a distance of ovci : thirty mihis shows that it is not in j Auckland district alone that attention j is being paid to gold mining. li is slated thill the whole of the lied of . that river has been pegged out. To come in al’er home, the recent develop- ; incuts in the Waiiii district point to j secondary enrichment having taken j p!aw al a lower level than was thought j of a few years ago. That being tlui ease, there is every j reason to hope that similar conditions j may exist at Waitokauri and Karangti- j liahc wir-u capital is available lo go j deeper down than has hitherto been worktd. At Thames the locating ol a 1 reel supposed to be the Caledonia on ; the hill ward side of the main slide may hjire big results, and in anticipation of j gold biiing found in the lode in payable | ipmiililh s. numbers of shares have al- j ready changed hands. At Tnraru Ihe owners of the- Sylvia mine ar crush- j ing, and exjxct a payable return, and ( im the Mount Zeeliaii property dew- | lopment works are being carried out | oreliniitinrv to o,Tiring the mine on j

the London market. At Cmomandel more interest is being taken in mining. Shortage of capital prevonttd the old Hauraki Company from carrying out the operations intended, but .shareholders have been asked to give an option over the property, which if granted, may result in the necessary ! capital being found to further work this mine at a depth. What is wanted at the present time; is more capital to encourage prospectors to get to work. Old hands are still of opinion that with economical working payable propertitH might yet be located at the Toktitoa, the Tiri. .Mercury Bay, and other places. As it is, a lot of prospecting work is being done in the Coromandel district by various syndicates. At tha present limo a lot of interest is being taken in liio operations in the ltoyai Oak i dne at Coromandel, and a company is being floated to provide capital for the further development of that property, which in bygone years had some rich patches of gold. Representatives of a Christchurch syndicate arc. also at Coromandel in connection with a sciemo to -work the foreshore by means of a suction drudge.