THE GRANITES

Poverty Bay Herald, Volume LIX, Issue 17950, 30 November 1932, Page 3

THE GRANITES

ADVERSE REPORT EASTERN LEASE MELBURNE, Nov. 19. Last week the western section of the Granites field in Central Australia was declared to be practically vlueless by Messrs. G. Lindsay Clark and C. G. Gibson, mining engineers. A similar report on the part of the eastern section of the field controlled by ■Granites Development, No Liability, was received to-day from the company’s field superintendent, Mr. Guy Ramsay. The directors of this company are awaiting the return of Messrs. Clark and Gibson and the company’s engineer, Mr. R. W. Powell, before taking any action.

Mr. Ramsay reported that work on two leases had disclosed ironstone and soft schist which carried no values, and that the leases were valueless. Trenches and shafts on other leases had revealed either barren or poor formations. The absence of values had led him the opinion that the schist was not lode material. Any values obtainable were close to the surface. “Wo have developed nothing,” stated Mr. Ramsay, “to give any confidence in the properties—rather the reverse.” Mr. Ramsay had not received the results of bulk assays, but be was confident that the results of the dollying were reliable. ANOTHER ADVERSE REPORT .Mr. C. M. Yeomans, a mining engineer, who went to the Granites on behalf of the Hansel Muvidy Company, has reported adversely on the field. His report, dated October 14, is as follows“I inspected lease 022, over which the company has an option. It is situated three blocks east of Bullagitchi, one of the best claims on the field. I got good prospects' on Bullagitchi. From sampling and investigation of other claims I consider the press reports to be greatly exaggerated, and do not consider it advisable to purchase further options at the prices asked. The development of the field will be very expensive, owing to the shortage of timber and the present poor water supply. I inspected the schist hills. There is no development. whatever, and f am not impressed with the district. From inquiries made on the field, Chapman’s claims have only a moderate chance.”

Supplementing bis report, Mr. Yeomans said that the Bullagitchi prospects were from 9dwts to 30dwts over a width of 9ft. He had made a suggestion that the companies concerned should use about .£SOO of their capital to sink a shaft on the Bullagitchi to 100 ft., and from that level crosscut 50ft. on both sides. That would prove conclusively whether the lode was a fissure or only a secondary deposit. If that was not done, it might be taken for granted that in a few years another boom would bo likely to occur, with the same disappointing results,