MORE HOPEFUL SPIRIT

New Zealand Herald, Volume LXXI, Issue 21717, 5 February 1934, Page 10

MORE HOPEFUL SPIRIT

TROUBLES PASSING AWAY MR. FORBES' OBSERVATIONS OTAGO GOLDMINING REVIVAL The statement that there existed everywhere a quiet confidence that tho Dominion's troubles were passing away to a large extent, and that this, together with the fine season experienced, made tho people think they could count very soon on a period of prosperity, was mado on Saturday by the Prime Minister, tho lit. Hon. G. W. Forbes, -on his arrival frcm Wellington. Ho said that in Otago and Southland, which he recently visited, ho found the feeling among the farmers and others more hopeful than it had been for a considerable time. Mr. Forbes made special comment on tho revival of interest in goldmining in Central Otago. In the past development had gone forward as far as it was possible with the knowledge then available, but tho discovery of new methods as the result of scientific investigation, was now enabling much more to lie done. In the futuro developments would be on a big scale, requiring large capital resources, which would probably come from overseas.

There was always uncertainty about §oldmining, but it was the aim of the cientific and Industrial Research Department to lessen this as much as possible. Those who invested in goldmining liked to be assured that they had a reasonable chance of success, and the department was doing much to give them this assurance by supplying correct information. WAIHI DEEP LEVELS PROPOSED INVESTIGATION A PRELIMINARY SURVEY [by TELEGRAPH —OWN correspondent] WAIHI. Sunday The announcement that the geophysical survey in Central Otago has located gold deposits at a depth of 1000 ft. below the surface is of particular interest in vrew of the arrangements made between the Mines Department, the VVaihi Gold Mining Company, and the Auckland syndicate which holds part of the old Waihi Central group for an investigation of these Waihi areas. As any deposits that result from the survey will become the private property of the two concerns mentioned, it is felt that, while in tho district, the geophysical staff should investigate other areas where, in the opinion of mining authorities conversant with the geological conditions which obtain in the field, there are possibilities of payable runs being met with at depth. Heads of the geophysical survey and others have hinted at the existence of buried goldfields, the depth at which the goldbearing country is likely to be encountered on the low-lying parts being variously estimated at from 1000 ft. to 1200 ft. below the surface. Should these additional investigations be carried out and the survey give sufficiently encouraging results, it is thought no difficulty should be experienced in finding the very substantial capital necessary to sink shafts and throw out exploratory cross-cuts. This work is not likely to be put in hand unless tests are conducted by geophysical methods, owing to the heavy expenditure which would bo involved.

Other parts of the Waihi field thought worthy of investigation are areas beyond the faulted zones on the course of the Martha and Edward reefs. It is held by some that these well-known lodes will be found to live and carry values on the other side of the disturbed country. That there is justification for this view is supported by the recent discovery of the Royal lode in the southeast prospecting cross-cut over No. 6 level in the Grand Junction area, some considerable distance beyond the main lode on that end of the field. The Royal lode there has not disclosed payable values so far, but these may come in as the lode is followed east, where the country rock continues of the right description for the existence of gold.