THE GOLD BUG.

Timaru Herald, Volume XCVIII, Issue 18084, 24 November 1924, Page 10

THE GOLD BUG.

THE KAWARAU SCHEME. MJNI STEII OPT! MI STIC. By Telegraph—Press Association. QUEENSTOWN, November 22. A venture winch, while thought bv some competent juuges to bear nondeijul possibilities, though condemned by others, and winch has the backing or tne Government was .inaugurated today, when the Minister of Alines (lion. G. J Anderson) fired the brat shot in connection with the Kawarau Gold Alining Company's project to cpim the river at Frankton arm, with a view to lowering the level to a sufficient extent to enable its bed to be mined. Great interest is being taken in the scheme, and during Friday and Saturday large numbers of visitors arrived from all parts of the Lakes District, Otago and Southland, and the north, to attend the official ceremony, at which over 2000 people were present. The Minister expressed his firm belief in the scheme, and said that it wquld do a great deal to diirich not only the people of the Lakes district, but would be, of cons derable benefit to the Dominion. He referred to the renewed activity in Waihi, and said that if it were possible to hold the waters of Lake Wakatipu and the Shotovor Rivers for a sufficient length of time to enable the river-bed to be mined, they would find similar projects to hold the waters of the Wanaka and Hawea Lakes. At a conservative estimate, gold from the Kawarau and the tributaries amounted to about two-thirds of the total quantitity won in the Otago mining district, which had contributed 77,737,059 ounces. Many parts of country still held rich gold deposits, and with up-to-dato methods, this would be recovered. He hoped, however, that there would be no more booms, but whatever mining took place would be carried out on legitimate business lines. Booms might "benefit Stock Exchange speculators, but always gave mining a set-back. The present venture might bo considered ambitious, but lie believed it would be successful, and was of opinion that the Kawarau River was the richest river in the world in respect to gold deposits. The success of the scheme would mean a new mining ora for the country. At the conclusion Mr A. C. Hanlon (chairman of'directors) presented the Minister with a beautiful greenstone casket set in gold, and bearing four Kawarau nuggets set °n Both pick md shovel and the woid Kawarau were set out in little gold studs on the fid of the gasket. Rcfeience was made by Air Hanlon to the consideration shown to the Company by the Minister without whose assistance he s- \ the scheme never would have been ...Tried through.