SEARCH FOR GOLD

New Zealand Herald, Volume LXX, Issue 21480, 2 May 1933, Page 10

SEARCH FOR GOLD

PRODUCTION RETURNS FIGURES FOR QUARTER INCREASE IN THE VALUE Although the quantity of gold produced in New Zealand during the first three months of the present year shows a small decrease when compared with that for the corresponding quarter of last year, the sterling value of production for the period just ended is very much greater. Returns compiled by the Mines Department give the past quarter s production as 35,9850z., valued at £215,957, the gold produced in the first three months of last year amounting to 36,1860z., of a value of £136,955. The probable cause of this year's decrease in yield is that last year one of the largest gold-producing companies in the Dominion had a heavy carry-over from the month immediately preceding January of 1932. The exports of newly-won gold for the first quarter of this year amounted to 33,3970z., and the value was assessed at £237,537, in New Zealand currency. Exports in the corresponding quarter of 1932 amounted to 35,525 oz., valued at £149,704. The position in connection with old gold is interesting, and exports of this type for the past quarter amounted to 64300z., valued at £39,353. For the first quarter of last year the old-gold exports totalled 18910z., of a value of £7995. Tho chief factor in tho increased value of gold has been the appreciation in the rate of exchange, this representing an advantage of 30s on the basis of £6 per fino ounce. Incidentally, gold sent abroad after February 9 last was liable for the export duty of 12s 6d per ounce. This, however, was more than offset by the exchange premium. The close co-operation existing between tho Mines Department and the Unemployment Board in connection with prospecting activities was referred to recently by the deputy-chairman of tho board, Mr. J. S. Jessep. He mentioned that during tho past six weeks 120 men, the majority of whom were married, had been sent from Wellington to Collingwood, Takaka, Nelson and Murchison districts to go prospecting. Each party was under the* supervision of an experienced man. Surveyors and engineers were laying out tracks into the back country so as to make the areas accessible. Many of the men were engaged making tracks to where they could take up claims, and while on that class of work received a little higher subsidy than when prospecting. In addition to the 120 men he had already referred to, another 120 had gone from Wellington to the Golden Hope and Maud Creek area in the Nelson Province during the past 12 months.

AID FOR PROSPECTORS REQUEST AT TE AROHA [by telegram—OWN correspondent] TE AROHA, Monday A deputation from the To Aroha Prospecting Association interviewed the Minister of Mines, the Hon. C. E. Macmillan, and tho Under-Secretary for Mines, Mr. A. H. Kimbell, this morning relative to assistance for those pvosp<jcting for gold in Te Aroha Mountain. Air. C. Scott, president of the association, and the Mayor, Mr. R. Coulter, placed facts and figures beforo the Minister. The Minister said he favoured prospecting assistance if it were justified. He would endeavour to obtain a further £250 from art union proceeds to place Te Aroha on the same basis as Thames. He would have a prospecting area secured to the Prospecting Association to facilitate the work.