SEARCHING FOR GOLD.

New Zealand Herald, Volume LXVIII, Issue 20993, 2 October 1931, Page 11

SEARCHING FOR GOLD.

REVIVAL IN NEW ZEALAND. WEALTH STILL TO BE WON. LOW-GRADE ORES PROBLEM. The revival of interest in gold-mining, witnessed during recent months, has prompted speculation as to whether the industry will once more play a leading part, in Jsow Zealand's development. Some incline to the view that the old time fossickers covered the ground fairly thoroughly, but no one would he so rash as to venture 1 lie assertion that, even on I lie old fields, there may not be vast stores of wealth still (o be won. Recovery of gold would be particularly valuable to New Zetland to-day for this week the London quotation for the metal was £5 5s 3d an ounce, against £4 4s the rate before Britain went off the gold standard. In addition, New Zealand would h;,ve the benefit of the exchange of £8 10s per cent. Further, there still remain, virtually unprospccted, considerable tracts of auriferous country, situated, it is true, in rugged, forest-clad regions, particularly on the west side of the South Island. Conaiderab.U• capital probably will be required to ensure the adequate surveying of such fields and those undertaking the task must reconcile themselves to the fact that prospecting probably will entail comparatively l.eavy expenditure before returns are secured. The nost promising line of future development in the industry, however, is generally believed to be in tho utilisation of improved methods of recovery of supposedly low-grade ores. In that connection the following confident observation was made in this year's Mines Statement - Indicators of Revived Interest. "The general consensus of opinion of a mining revival taking place in New Zealand is stronger to-day than that prevailing foi many years past and sooner or later it. will be found that a number of low-gnde mining areas in several parts of the Dominion will bo worked on a very large and comprehensive scale and with satisfactory results financially." Unemployment lias been partly responsible fc-r turning thoughts to gold-prospect-ing. A record number of subsidies was granted by the Mines Department in 1930 and it. was stated that, so far as the money available permitted, any applicant whose application showed merit had been granted some measure of assistance. A further indication of revived interest was contained in the fact that the number of persoi.s or companies producing gold in 1930 was almost 20 per cent, greater than in th s previous year. Tho quantity of gold produced has shown a slight but steady increase in recen; years. The actual figures of gold production are not available, owing to no d stincticn being made between gold and silver in the case of mines which produce both, the gold-silver bullion general!} being exported unseparated. However, the proportion of silver, reckoned on value, is not large. In 1927 the quan .ity of gold and silver produced was 506,4 lOoz. (valued at £550,166) and the figures for the succeeding years were as followsl92B. 532,9140z. (£551,914); 1929 571.3200z. (£527,340): 1930, 639,*; 950z. (£550,978). Vast Gold Beefs of Waihi.

From 1857, in which year gold was found in New Zealand to a significant amount, until the present day, gold to the value cf about £94,000,000 has been produced. The total rose from less than £10(1,000 in 1360 to £2,400,000 in 1863 as a result of the Tuapeka rush. -Aftor that year both the Otago and the New Zealand annual output declined rapidly until 1866, when the discovery of the rich aurifero is gravels on the West Coast forced the New Zealand output up to the peak total of £2,850,000. New Zealand's annual output then declined to £2.200,000 in 1870. hut the discovery of the Thames goldfield, which reached its zenith in 1871, increased the production for that year to £2,800,000. The yield Jigain declined more or less continuously until 1890, when gold began to he won in quantity from Kuaotunu and Wahi. From a total of £BOO,OOO in 1890, the annual output increased to £2,300,000 in 1905 as a result of the opening and stef.dy working of the vast gold reefs of Waihi. Since 1900 Waihi has produced mo:o than half the annual gold output of I he country, but that output has shown a steady decline. How Resources are Distributed. Economic deposils occur for the most part in tl rec regions of New Zealand — Hauraki, West Coast and Otago. Quartzmining is carried on in the North Island fields, in the Recfton and Blackwater districts on the West Coast of the South Island and to a limited extent in the Wnkamarina Valley. Marlborough. .Alluvial gold is found chiefly on the West Coa.'t and in Otago. Gold-dredging, a nystein which originated in New Zealand, is generally employed on livers and streams and at places where the sluicing method rri.-iy not be advantageously appli id owing to the absence of a water supply or !o excessive water in the deposits. ]:.n a survey t>f the gold resources of Now Zealand, prepared for the international geological congress in South Africa in 1929, Mr. J. Henderson, director of New Zealand Geological Survey, stated: 'The only proved reserves of lode ore ar> in 1113 Wailii .and Blackwater mines. Tl o possibilities of much additional ore at Waihi arc not good, but in the Blackwater and her 250,000 tons may reasonably bp expected." Extensive Tracts Not Prospected. However, the discoveries since the old armies o! prospectors disbanded are proof against the conclusion that all the stores of' gold in New Zealand have been uncovered. The rich finds made on the oldest an 1 most closely-worked fields, and even in the most honeycombed of mines, have been considerable, and in the vast extent of the Dominion's auriferous country there are extensive tracts which 11io boldest of the old-time prospectors did not penetrate. Naturally, speculations about another pold-mining "boom" cannot be made i ishly. The present signs of renewed optimism are encouraging, but they may raise false hopes. The combination of strong organisation, smple c; pital and active prospecting would seem to be required for the successful opening up of the extensive bodies of ore stil], believed to exist in the Dominion.