MORE GOLD WON IN CANADA

Stratford Evening Post, Volume II, Issue 22, 18 August 1932, Page 5

MORE GOLD WON IN CANADA

PRICE GIVES IMPETUS TO Ii\L>US'IKY

VANCOUVER, July 7.—The pre vailing premium on gold has given a tremenuous impetus 10 pruducticn uirougnuut Canada, particularly m Britisn Coluinuia. necoveiies of gold Horn placer (aimvialj operations during li>ul are likely to ue more tliau d-übled tins year. At tile beginning of this year, Canada had ly straiglit producing goldmines, witli a nunioer or oase metal mines adding to production. Since men, nine new gold mines have been added. Production is expected to ag. gregate tio,ooo,ouo dollars (normally io miiiion pounds), compared witn dd,400,000 dollars (normally £11,060,.. ooO) last year. Tliere are 6S mines in the world producing individually in excess of £IOO,OOO worth of goid annually. South Africa has 04, Canada ili, united btates 11, Rhodesia 0, India 5 and Australia 5. Doubling Capacity Canada is expected uoi have 28 mines producing at the end of thia year. Kukland Lake, Ontario, tne largest producer, is a continued serial of Heavier returns, better recoveries higher values and greater ore re serves. In British Columbia two mines are doubling their capacity. Placer mining has been given a tremendous impetus through Government encour. agement. in tact, the whole country has turned to an inteusiried goiu seaivu, which has extended to Yukon and Alaska. To the straight gold producers has been added a growing contribution from certain cf the base metals mines. Noranda has climbed to third piace, and is extending its facilities. Hudson Bay i s adding £400,000 a year to Canada's output. Nickel mines have shown a declining tendency, gold being a by-product. It is generally believed that gold mining will have a major part in re. suiting the country's prosperity.