KING ISLAND SCHEELITE
(N.Z. Press Assn.—Copyright) MELBOURNE, Feb. 24. King Island Scheelite (1947), Ltd., may soon be involved in heavy expenditure to begin underground mining, the chairman (Mr C. WallaceSmith) told shareholders at the annual meeting yesterday. At present the company mines its scheelite from an open cut. Mr Wallace-Smith said that indications so far from the diamond-drilling programmes pointed to underground mining. This was because of the size and nature of the lode. Because this would involve considerable capital outlay in the form of plant, machinery and additional housing, the exhaustive drilling programme was of utmost importance. Answering a shareholder’s question, the chairman said that on the basis of current ore reserves and production rate, open-cut drilling should continue for about 5J to six years.
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Press, Volume CVI, Issue 31305, 27 February 1967, Page 17
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126KING ISLAND SCHEELITE Press, Volume CVI, Issue 31305, 27 February 1967, Page 17
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