COMMERCIAL Waihi Begins Drilling

Press, Issue 32333, 26 June 1970, Page 17

COMMERCIAL Waihi Begins Drilling

(New Zealand Press Association) HAMILTON, June 25. Waihi Alining and Exploration, Ltd, will probably sink their first hole today, in an ironsulphide zone about five miles east of Waihi.

The company hopes to find economic gold deposits or enough iron sulphides to warrant a sulphur-extracting operation. A start is expected on drilling for base metals, in the Waihi district, in about three weeks. The chairman of directors (Mr I. W. McKinnon), said drilling in Golden Valley was to find gold or to determine the size of iron sulphide (pyrites) deposits. “These sulphides often accompany gold deposits. Shafts were sunk in this area when the Martha mine was working but all they found was more and more pyrites. If we don’t find gold we want to know if there are enough sulphides to warrant a sulphur-extracting operation. “We know there are thousands of tons but millions of tons are required with a high enough grade to warrant recovery.

“If the deposits are big enough we would certainly consider extracting sulphur

for the New Zealand market.” The company had an option to purchase the land if it considered that the pyrite deposits were big enough to develop as a commercial proposition. Auckland drilling contractors Gilberd-Hadfield were moving a drilling rig from Whangarei to the site near the old Martha gold mine in Golden Valley. A spokesman for the firm said in Auckland: “The rig should be on site Thursday night and provided the men have everything ready we’ll start drilling. “Drilling is not cheap. And this is certainly promising enough to warrant a drilling programme,” Mr McKinnon said.

A contract to drill the other areas had been let to Brown Bros, of Hamilton, although final drilling sites had not yet been submitted. Geophysicists’ and consultants’ reports were in their final stages.

“Our consultants, Siegel Associates (Aust.), Ltd, would be giving us their findings any time,” he said. “They have not given sites but say that there are places we ought to drill around Waihi, and that we should make suitable arrangements.”

Mr McKinnon was confident drilling on those areas would be started before mid-July. Delta Minerals Delta Minerals, N.L., has placed 2,828,850 10c paid shares at 22.5 c to finance the acquisition of Delta Coals Pty, Ltd, and other ventures under investigation. Beach Spuds In Beach Petroleum, N.L.’s first Middle East well, Divana No. 1, in eastern Turkey, was spudded in on Saturday.