KANIERI GOLD

Evening Post, Volume CXX, Issue 148, 19 December 1935, Page 12

KANIERI GOLD

AUSTRALIAN INTERESTS

Kanieri Gold Dredging, Ltd., is being formed in Sydney, with a capital of £205,000, in 200,000 ordinary shares of £1 each, and 100,000 deferred shares of Is each, to acquire and, work goldbearing lands of 533 acres, situated at Kahieri. on the main road,' 3i ' miles from Hokitika, on the West Coast, South Island, New Zealand. It is reported that testing has established a payable area of. 478J acres, containing 55,000,000 cubic yards of gold-bearing alluvial of an average value recoverable by bucket dredging of 9.3d per cubic yard, taking gold at £6' per ounce This figure includes 10,000,000 cubic yards of compacted sandy material, underlying the goldbearing wash of an.average Value of 7d per cubic yard. . < The average fineness of the gold recovered in drilling operations is 968.6. Approximately 30 per cent, of the gold recovered is of a grain' size exceeding five millimetres, the balance consisting of medium to fine colours. Field tests are said to have proved that, ..here will be no difficulty uv recovering the values as the gold amalgamates^ freely. The purchase price of the properties to be acquired is £47,901. Preliminary expenses are estimated not to (exceed £385, leaving working capital ~of £156 714' " The vender is Alluvial -Tin-(A.us-tralia) Ltd., and the total purchase price is £47,901 cash.1-