DREDGING FOR GOLD

Poverty Bay Herald, Volume LXI, Issue 18323, 15 February 1934, Page 5

DREDGING FOR GOLD

WEST COAST VENTURE EROtfOSAL TO SPEND £400,000 v Till), first definite attempt in New Zealand gold, mining to work black safid' dredging on a large scale is like to be commenced soon at Barrytown, 17 miles’ north of Grey mouth, where, it is stated, a company with a capital of £400,000 proposes to operate three dredges. An indication of what. is intended was given at a sitting of the Warden’s Court at Greytnouth, when Charles George McKoclinie, hotel-kcepcr, of Greymouth, applied for the cancellation of certain mining privileges at Barrytown held by Cedric Hankinson Knight, of Auckland.

' Walter James Watkins, organising broker for Investigations, Limited, of Dunedin, said in evidence that his firm had an option over McKochnie’s holdings at Barrytown. The company he represented proposed to spend £400,000 oh dredges, each handling 400yds an hour. Already £3OOO had been spent in prqspecting! and if was proposed to ■spend a further £BOOO in the next si.x months. The area to be worked by the first dredge was estimated at 30,000,.000 • cubic yards. Every yard , that showed a value of 4d would be worked, the witness said. If the defendant Knight retained the privileges of which cancellation was asked it, would mean that, the plans would be considerably modified.. Only one dredge would thpn.be put .on. Arthur Percy Penman, of . Sydney, a director of Alluvial Gold, Limited, said that his company had .taken over McKechnie's licenses from Investigations, Limited. His company had extensive mining interests in various parts of the world. A staff had beon brought from Sydney and was now at work oil the aroa. If his company found the bores as good a 3 those found by Investigations, Limited, the Work would definitely go on. His firm controlled about 20 dredges. Decision was roservod.