SEEKING FOR GOLD

Hokitika Guardian, 17 October 1931, Page 7

SEEKING FOR GOLD

REVIVAL IN NEW ZEALAND. LOW-GRADE DEPOSITS. WEALTH STILL TO BE WON “Gold! If New Zealand could only strike a rich find once again!” This remark is frequently heard in these days of depression, for it is felt by many that the discovery of a new and rich field would do much to lighten present difficulties through which tho country is passing is a revival in prospecting and increased interest in the gold-ilflning industry in general, so that there has been considerable speculation of late as to whether the industry will once more play a leading part in the Dominion’s development.

Some incline to the view that the old-time fossickers covered the ground fairly thoroughly, but no one would 'be so rash as to venture the assertion that even on the old gold fields there may not be. still vast stores of wealth to he won. Recovery of gold would be particularly valuable to New Zealand to-day, for last week the London quotation for the metal was £5/7/8 an ounce as against £4/4/111 before Great Britain went off the gold standard. Fn addition New Zealand would have the benefit of the exchange of £B/10/- per cent. Areas Still Untouched. Discoveries: made since the old armies of prospectors disbanded are proof against the conclusion that all the stores of gold in New Zealand have been uncovered. The rich finds made ( on the oldest and most closely honey-

combed of mines have been considerable, and in the vast extent of the Dominion’s auriferous country there are exterisives tracts which the boldest of the old-time prospectors did not penetrate.

There still remain, particularly on tlie west side of the South Island, ocn_ siderable tracts of auriferous country which are virtually unprospected. It is true they are situated in rugged, forest-clad regions, 'and prospecting would probably entail comparatively heavy expenditure before returns were secured. .The most promising line of future development in the industry is generally believed to be the utilisation of improved methods of recovery of supposedly low-grade ores. In that connection the late Minister of Mines, Mr A. J. Murdoch, made some interesting observations in his Mines Statement presented to Parliament just before the formation of the Coalition Ministry. “The general consensus of opinion of a mining revival taking place in New Zealand,” he said, “is stronger to-day than that prevailing for many years past, and sooner or later it will he found that a number ot low-grade mining al'eas in several parts of the Dominion will be worked on a very large and comprehensive scale, and with satisfactory results financially.”

Record Number of Subsidies. i i Unemployment Ims been partly re-' sponsible for turning thoughts to gold prospecting. A record number of subsidies was granted by the Mines Department in 1930, and a further indication of revived interest was given by the fact that the number of persons or companies producing gold last year was almost 20 per cent, greater than in the previous year. The quantity ot gold produced has shown a slight but steady increase in recent years. The actual figures of gold production are not available owing to no distinction being made between gold and silver in the case of mines which produce both, the gold-silver bullion generally being exported u n separate—. However, the proportion of silver, reckoned on value, is net large. In 1927 the quantity of geld and silver produced was 506,4200 z. (valued at £550,166). and the figures for the succeeding years were as follows: —1928, 532.914 oz. (£551,914); 1929, 571,3200 z. (£527,340); 1930, 639,7950 z. (£550,978). The Tuapeka Rush, From 1857, in which year gold urns found in New Zealand to a significant ! extent, until the present day, gold to the value of about £94,000,000 has been produced. The total rose from less than £IOO.OOO in iB6O to £2,400,00 in 1863, as a result of the Tuapeka rush. After that year both the Otago and the New Zealand annual output declined rapidly until 1866, when the i discovery of rich auriferous gravels on the West Coast forced the New Zea-' land output up to the peak of £2,850,_' 000. 1

New Zealand’s annual output then declined to £2,200,000 in 1870, but the discovery of the Thames goldfield, which reached its zenith in 1871 3 increased the production for that year to £2.800,000. The yield again declined more or less continuously until 1890, when gold began to be won in quantity from Kuaotunu and Waihi. From a total of £800,030 in 1890, the annual output increased to £2,300,000 in 1905 as a result of the opening and steady working of the vast gold reefs of Waihi. Since 1900 Waihi has produced more tlmn half the annual gold output of the country, but that output has shown a- steady decline.