MINING

Hokitika Guardian, 14 October 1931, Page 2

MINING

The Westport News says:—On Alonday last a miner walked into a local butcher’s shop and asked the proprietor to weigh a parcel of beach gold; tlie weight was slightly over une pound making the value at £4 an ounce about £7O. The gold was ootaineu from one of the local beaches. At Die

present time, good returns of gold are being obtained from the beaches at Karamea, Little Wanganui, Birchfield, Waiinangaroa, Dead man’s, Taurauga. Bay, Charleston and Brighton. Bros, peeting is also being carried out inland at Karamea, Glasseye, Alokiliinui River Mack ley, Waiinangaroa River, ana Croninville. NEW PROJECTS The increasing interest in gold mining ventures, which has been stimulated lor some time by the premium paid for gold by the Australian mint and the favourable exchange, aggregating for som e time up to 18s per ounce, has received a further impetus by the enhanced price of fine gold in England as a, result of the suspension of tlie gold standard. The price has advanced to approximately £5 8s an oz from the standard of £4 ss.

At least half a dozen West Coast projects are now in a fairly advanced developmental stage. The Big River Company, projected to work the claim held at Roefton by the original company of that name, has been registerea. The original coucei'n paid dividends, Capital is being raised to prospect an apparently payable lode in tlie Karamea district, and a dredging proposition in the Grey Valiev, besuuv. others on various .parts of the Coast, are also being placed on the market

Activity of a similar nature is also lioing experienced in Otago. The investigation of the huge accumulation of conglomerate at Tuapeka is to be commenced shortly by a North Island company which is understood to have the capital available. A company has been formed to prospect two deep lead claims in tlie Alacraes Flat district, the capital for this project having been fully subscribed in Christchurch and the company registered. Areas in the vicinity of King Solomon Mine, at Waikaia (Eastern Southland), are also to lie prospected shortly. If the company mentioned “strikes it” as it is re ported to be likely to do shortly, there will be a good deal of activity in this well-known auriferous valley.

A difficulty at present in .active prospecting is tlie scarcity of equipment. The Mines Department owns several drills, but most of them have already been engaged. The recently formed Mining Investment Company is now constructing a drill which, it is expected, will be completed within eight or ten weeks, and a commencement will be made as soon as possible to prospect claims on the West,Coast and ill Otago that have been submitted to it,