RICH GOLD

Grey River Argus, 7 December 1932, Page 3

RICH GOLD

AT CROMWELL CLAIM Over £7O for a Day’s Work (Per Press Association). DUNEDIN, December 6. Advice has been received from i.romwe.l to-night stalling that on Monday a return of eleven and a-hal! oum-es of gold was secured in Bell ami Kilgour’s claim for one day's work. in tho wash-up there was one nugget weighing one ounce-. MID-CANTERBURY GOLD. WEST coast prospector NEEDED. The possibility of winning gold from the Rakaia and Wilberforce Rivers aud from Whitcombe Pass was brought under the notice, of Air J. S. Jossep, D< puty-Chairmau of the Unemployment Board, by the Chairman (Air RKerr) and members of the Executive of the Ashburton Unemployment Com- , mitt co and th e Aluyor (Air W, H. j Woods) Q.n Alonday, as Mr Jossep passjcd through Ashburton by tho north express. Air Kerr said that in 1896 a party of three men won gold to thc value o’f £3OOO in the locality referred to, but owing to the low prices of gold in those days and the cost of transport the work ceas ’d. Now that gold had doubled in price, it might be found profitable to open up this field, and provide work for men. The committee suggested that tl. ■ matter bo considered by the Unem ployment Board, and arrangements made for an officer of the Mines Department to investigate the field and i-port. Air G. W. Gallagher, Chairman o-f the Ashburton Hospital Board. <iml a im mber of the Committee, had been making extensive enquiries into fh ( . matter, and had been in touch with • lie of the me n who worked the area. The man’s services would be available to accompany an officer of the Alines Department in the investigations. If gold was found in payable quantities, it would first be necessary to clear the old Lack to Whitcombe Pass and + hat work could be done by relief labour. Air Jossep said that h c knew thc country well, having had land in th p locality. “I know gold is there, and if you can send along a report that looks hopeful, we will get a’fter it,’’ he sai-l. They wanted an expert miner who would recognise the right type of wash. It would b" better to organise :i pasty to carry out the inspection. Air G. Kelly (County Clerk) said that i( might be advisable to obtain the services (> f an experienced minor from the W'-sl ('oast. ■ The track into the country was obliterated, and unem ployed might be put on fo put it in orAly Jossep said that, he would b (1 back either before or shortly after Christmas, ami if they obtained a report ho would be pleased to go further into the matter. MINING SHARE MARKET. The latest mining share quotations on the Christchurch Stock Exchange are as follows: Big River, buyers 9d, sellers Is; Blackwater £1 2s jo, £1 Js 6<l: Consolidated 9s 4d, 10s; Gillespie’s Beach 2d prem., 3d prom.; Gohlen Sands 2s 2d. 2s sd; Alexander (cum. div.) £1 2s, £1 5s 6d; Alexander (contr.. cum. div.) £1 2s, £1 4s; Cornish Point 2d. 3d; Golden Dawn ss, 5s Id; Golden Point lid. 3d; King Solomon 2s 3d. 2s 7d; Alahakipawa 3d, 4d; Afahakipawa (pref.) ■ —. 8d; Nokomai 5s 9d, 6s; Paddy’s Point 5s 2d, 5s 8d; Okarito Bs. Ss 9d; Waihi IBs 7d, 19s; Waihi Grand Junction 3s 6d, 3s 7d; Waitahu 6d prem., lOd prem. Tt is expected that the Freshford (Waikaia) Company’s dredge will be operating early in the New Year. The property is near the claim of the Almldv Creek Company, -which paid good dividends 25 years ago. The dredge is equipped with 6ft buckets. A proportion of the share capital is held in Christchurch.

Arrangements have been made for mining interests in Victoria to co-oper-ate with Industries, Ltd., in development work of Wetherstones (Otago), according to Air G. AV. Thomson, mining engineer to Industries, Ltd., who is returning to thc Dominion after inspection off mining properties and plants in Australia. BLACKWATER MINES. Blackwater minus during Novembei crushed 3750 tons yielding 1874 fine ozs o'f gold valued at £7958 standard value. Working expenses wore £5449. In addition thp furnace, treated 71 tons of concentrate's for a return of 187 fine ozs. of gold, valued at £793 standard value, thp working expenses being £133. Thp working profit was £6269, with gold at £5 15s per fine oz. D p vel opment expenditure -was £1074, capital expenditure £716, profit over all is £4479, and the total value of gold recovered £11,851. with gold at £5 15s per fine oz. A review of development carried out during November shows that No 9 .' Level North was exptendefi. 22 feet I on reef averaging 14.5 dwts. over 25 incli(‘s width. The drive is stopped temporarily whilst the rise is being put up to meet the winze going down from No. 8 Level. In No. 10 Level North the progress was 15 feet in blank. This drive is being extended as and whe n filling is wanted in the stopes below. It is being extended towards thc point where the Prohibition Block may be expected. No. 11 Level North was extended 45 feet in blank country: a short distance remains to be driven before thp n ext block is expected. No. 12 Level North was extended 142 feet during thc month, after which an additional 10 feet located the reef I “xactly where expected. The at

intersection yvas 6 tc- . ’ • ” p somewhat low value. Drives north and south are now being opened, and as soon as possible a connection will be made with the winze from No. 11 Level which is down 149 feet, leaving about 15 fc<ct to connect. The winze carried good value down the first 118 fevt, the last 30 feet being poorer. Indications are for a big block otf ore being north. In spite of some very, bad running ground thc» re-timbering of fhe Prohibition Shaft was completed during November, since when the guides and centres are being placed in position. The Battery Crosscut was extended 75 feet making the total length 330 feet. Nothing o»f interest '\:ts passed through during the period.