SEARCH FOR GOLD

Hokitika Guardian, 4 March 1933, Page 6

SEARCH FOR GOLD

DEVELOPMENTS! IN CANADA

INCREASED GOLD OUTPUT,

| VANCOUVER, February. 1... | From the Pacific coast to the Atlantic seaboard, particularly in British. Columbia, Manitoba., Ontario and Quebec, the search for gold went forward during 1802 onr a more intelligent basis than ever before- in. Canada, In the sub-Arctic regions, the* towering .peaks of the Rockies, on the fringes of the prairie, in the rock-ribbed foi'estii of Northern 'Ontario or Northwestern- Quebec;, wreaths of smoke curled frcun thousands of camp fires, demoting the 'presence of men in search of- gold.

Far the world’s' greatest optimist, one may be commended to the prospector. 'Season after season, he renews his hone of success, and starts

out, ready to suffer privation, assured that the great discovery that spells comfort and independence lies just ahead. The odds are- all against him, but he never hesitates, buoyed up by the record of the few who have i..iucceeded. •

In the most difficult year for ecoTbnuic 'dev'el'cpmei'it, the, mining achievements of 1932' are almost without parallel. ‘At one mine—Kirkland Lake, Ontario—gold fe- being produced at the rate of nearly £7,000,000 a year, with an indicated ore reserve of £SO;000,000. Others disclose relatively proportionately rich output. Bq>se metal mining enterprises rose to remarkable achievement; In. the : Far North, ttlie Fl’in Flon mine operated at a substantial profit on a copperzi,nc deposit, When many of ’the Larger and well-established copper and' zinc mines in other parti.? of the world were compelled to close. The nickel mines of Sudbury, 'Ontario, not only maintained operations at full capacity during 1982, hut ushered in the pre- i went year with the declaration of one of the largest initial dividend disbursements ever announced' by a miuimig company in Canada. Not only this, but production' of nickel and copper' is'to he increased by 50 per J cent, during, the current year. At | Lake Shore Mines, Ontario, an investment oif £625 when, the mine was opened* through' the sale of share? at a shilling each,, has a present market value of £85,C00. In addition, dividend disbursements so far, made have totalled £3 per shilling share. These developments are practically , encouraging, in view of the fact that Canada; requires £02,C00,C00 a year to meet, in New York, her bonded indebtedness—federal, provincial and municipal—according to the Prime Minister, Mr It. B. Bennett, in bis pronouncement of January 24. in which , he set his face, sternly and mejeorably, against any policy of inflation..