GOLDMINING REVIVAL.

New Zealand Herald, Volume LXVI, Issue 20332, 13 August 1929, Page 11

GOLDMINING REVIVAL.

PROPOSAL AT WAIHI.

SCHEME FOR NEW COMPANY.

[BT TELEGRAPH. —OWN CORRESPONDENT.] WAIHI, Monday. There was a representative gathering of business and mining men on Saturday evening to discuss proposals for tho formation of a prospecting and mining company for investigation of the Waihi goldfield by diamond drilling or other methods.

" That a committee bo set up to take steps toward the formation of a company ■with a capital of £30,000 in 60,000 shares of 10s each to further investigate the Waihi field in the hope of making fresh discoveries of sufficient importance to bring about a revival of the gold mining industry," was briefly the text of a motion submitted by the Mayor, Mr. W. M. Wallnutt. Ho gavo details of Hie scheme of operations contemplated subject to a favourable report from fhe director of geological survey following a conference with local mining men and further investigation of the district. The superintendent of the Waihi mine, Mr. H. W. Hopkins, dealt at length with the geology of tlio district and gavo reasons why in his opinion the proposed investigations were justified. Ho mado it clear that he was not speaking as an official of tho Waihi Goldmining Company, but purely as a private citizen anxious to render any help in his power to bring about a resuscitation of goldmining. . After dealing with the geological aspect Mr. Hopkins said that personally ho had no faith in 'working for a reef simply on tho lino of a known lode. The occurrences might be likened to the impact of a stono thrown at a window. There was much Assuring where the stone struck, but tho fissures tended to dio out as they got away from tho centre of tho disturbance. The correct course would seem to be a consultation with Dr. Henderson, who might bo ablo to indicate an area of promiso which could be investigated either by careful surface prospecting or possibly by boring or by one of tho new geophysical methods. After others present had expressed their views the motion for tho formation of a company was carried. The following were named as tho committee to proceed with the preliminaries: The chairman, Mr. W. M. Wallnutt, Messrs. H. W. Hopkins, W. H. Toy, J. JB. Beeche, W. F. Mac Williams, E. A. McLeay and E. Dyo.