GOLD-MINING VENTURE

Taranaki Daily News, 20 February 1933, Page 11

GOLD-MINING VENTURE

OLD FIELD AT WAIKAKA. A private company, with a capital of £7500, is to be registered under the name of the Stewart Gold, Limited, to work by ground sluicing the auriferous deposits near the township of Waikaka, Southland. Many years ago this was a well-known dredging field, and there is still a large area of gold-bearing country at the higher levels which could not be reached by dredges. Two Diesel engines developing 156 horse-power, and two high-pressure centrifugal pumps will be used by the new company to supply water for sluicing, and it is believed that this is one of the first occasions in the Dominion on which such engines have been used for this purpose. Tests made of the ground to be worked have given values averaging over. 4s 6d per cubic yard, through a depth of 9ft. *of wash, with only a slight overburden. On another part of the claim goldbearing wash is 80ft. deep, and contains gold values to the extent of over 2s per cubic yard throughout. ' . The project is attracting considerable. interest, and if the expectations of Mr. R. T. Stewart, and has party, are realised, there may be an important revival 6f mining industry in the Waikaka district where auriferous terraces of a similar type are of a considerable extent.