MAGNETITE ORE.

New Zealand Herald, Volume XLV, Issue 13745, 9 May 1908, Page 3

MAGNETITE ORE.

NEW INDUSTRY FOR THE SO DTI!. . " ' It was announced some few month* ago' that a large field of magnetite ore hud been • - discovered in Otago and Southland. At the . , time it wits hoped that the discovery would . b<; of considerable value, and (he progress made in the way of experiments since lias materially strengthened these good opinion.!/ A private syndicate' has tip to the present been conducting the initial work of development, but it is .understood.' that opportunity will shortly be taken of floating a company;.- ' for the thorough exploitation of tho .field. The rough ore has under test yielded 60 per cent, of iron, so that should the find provo / at all extensive it is reasonable to suppose . that a sound and profitable industry can be built up. It is expected that a deposit of coal will be found in close proximity to th" iron ore, and should ibis prove to bo the: cane it will, of course, greatly facilitate the • working of the field. Another factor towards successful development lies in the fact that the field in no considerable distance from the railway, thus reducing tho cost of-.;, transport. As already indicated, the tests of iron ore have proved very gratifying. A ' quantity approximating three-quarters of » hundredweight was put through » furnace and yielded some splendid lumps of < sound, close-grained ore. particularly freefrom slag and dirt. It is intended to put a larger amount through at no distant date, and should this bear out anticipations steps • will probably be. immediately taken to place--the venture on a business footing. It may also bo mentioned that sample* of coal from, the locality yield « very high percentage of gas, being somewhat akin in general forma-.' tion to the Newcastle and Westport coals.