DREDGING AREA

Hokitika Guardian, 10 June 1932, Page 4

DREDGING AREA

MU R OBJ SOX YENTUIi-E

WESTPuRT, June 9. Prospecting Jicenses oi an area of 4(juj acre,, ol potential dredging ground extern,mg mr .1(3 miles a*ong Lie upper reacne-, ox me -Vlatakiuua | mvex } noar .uurciii.von, were granted j recently to group of Wellington, Auckland, aud Hamilton businessmen. As a result of its investigations the group lino for initiated a policy for Hie development of .the area winch, if exploited, uni be the largest golddredging field in New Zealand or Australia, and*‘almost exactly 'twice as Jal'ge a,s the well-known 'Bulolo fieldin New Guinea. •The- area is sufficient to icnri-y four large modern-dredges, electritfidly dny r „ on lioln a special hydro plaift for whicli ample water is available. Tiled - ptu Tl jeot is roiiciing -jnte-ii st in ■ the id'idtrict, where the, Matakitnki is knows'as “the golden river.” Aew Zealand has been called “the cradle ol dredging,” hut most of The development work has been carried, out |in America and the East. Dredging costs have boon lowered as the result of tiie .imp, ovemoiiLs in design and the enormous increase in the output of the dredges now used. In many cases, the total cost of operating the modern dridge is as low as 2Jd for each cubic yard of gravel treated. I ' If efficient' methods, of testing are j adopted, it is possible to.estimate with- ; in a., few pound* the value; of .the gold ! contained in an area, and how much it Will cost to recover it., ■ A scheme of this magnitude would require more capital than.'could he conveniently and economically raised jif i thin the Dominion. The - invest menu/!j in. New Zealand- of hundreds of thousands of overseas capital is particularly dctsirablo at the present time, and tire country would make a strong hid to recover its former place a-s a gold producer should the field he developed.