ADVERSE REPORT

Poverty Bay Herald, Volume LIX, Issue 17951, 1 December 1932, Page 4

ADVERSE REPORT

“DEVELOPMENT WORK NOT F; ' JUSTIFIED” MELBOURNE, Nov. 24. Another unfavorable report, on leases at The Granites has been received. It is by Dr. Loftus Hills and Mr R. A. Clinton, who have reported as follows to the directors of Golden Granites (N.L.): “Both the topographical and geological feaures, combined with the Kpoor results obtained from campling, point unmistakably to the conclusion (that development work on the leases •xaprined is unjustifiable. On account of the distance from the railhead, the ; |K«rcity .of w^fer ’ ... '-S .. <■

and mining purposes, the costs would be at least lOs a ton higher than the average of the goldfields of Australia. This would call for a higher gold content than the general average. Unfortunately the gold content at The Granites is well below the recognised 'payable limit of other goldfields.” ANOTHER OPINION “A SECOND KALOOORLIE” . BRISBANE, Nov. 24. 'The following statement was made to-day by Mr Charles Stevens and Mr R. D. Baker, who wero members of the Chapman expedition;—“Wo place no credence in the suggestions that The Granites goldfield is a fiasco. We have the fullest confidence in the richness of the leases hold by tho Chapman Gold Mines, N.L. Of the areas held by other companies we cannot speak, but we feel that the Chapman areas alone should suffice to make Tho