PANAMA’S GOLD.

Hawera Star, Volume XLV, 7 April 1926, Page 9

PANAMA’S GOLD.

NEW COMPANY FORMED. HAS VALUABLE CONCESSIONS. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. Received 2.15 p.m. to-day. LONDON, April 6. In connection with the Panama gold discoveries, the Daily Mail states that Mr. Duncan E. Alves, a native of Dunedin, who founded the Imperial scheme for securing and building up oil resources for British naval and national purposes, is chairman of the Panama Corporation, Limited, which was recently formed with a capital of two million sterling to exploit Air. Calderwood’s concessions Thirty representatives of banking and shipping interests are associated with the corporation. * Air. Alves officially announces that the Government of Panama in 1925 granted him special concessions covering the, province of Yeraguas, in northern Panama. Later he was given a concession covering the southern district of Adominag, in Colombia, totalling 4500 square miles. Air. Alves reveals that Air. Oalderwood’s discovery on the Atlantic side of the divide contains an abundance of alluvial gold. An exploration showed an area of eighteen ■ square miles of gold-bearing country. The total area of this type amounts to three 'hundred square miles, and is expected to show similar results. Exploration of the northern slope revealed three large, well-defined veins, four, six and eight feet wide, and at an altitude of 2000 feet, containing high values in,base metal ores in silver, zinc andi copper. Sydney Sun Cable.