MINERALS.

Star (Christchurch), Volume LXVI, Issue 20365, 24 July 1934, Page 9

MINERALS.

Mining Prospects in North Australia. LASTING PROSPERITY? (Special to the ” Star. ) SYDNEY, July 12. “ ProperlV handled, the present active revival of interest in mining in the Northern Territory is capable of leading to lasting prosperity,” states the Commonwealth Geological Adviser (Dr W. G. Woolnough), in a preliminaryreport on his recent tour of the territorv. . Dr Woolnough qualifies his statement bv adding:—“lt will require, however, only one or two instances of mismanagement or miscalculation to produce a reaction, the effects of which will retard the development of the country for a generation. A crying need is the licensing and registration of all mining engineers and geologists. Absolutely unqualified persons are posing as experts, with results which are misleading to the public and disastrous to the future of an otherwise promising industry .” Major Developments. “ Opportunities for major development by powerful companies appear to be numerous,” states Dr Woolnough, “ but there is already a strong indication that this fact is being misused by unscrupulous persons. In seems necessary that candid and unbiased reports should be issued by the Government at frequent intervals, and that, if necessary, legislation should be passed to protect officers who, in the execution of their duty are compelled to direct attention to fraud and misrepresentation.

“ Probably all readily recognisable deposits in reasonably accessible areas have been discovered and partially tested. There is little room for the old-fashioned prospector in such areas. In \he richer deposits the eyes have been picked out by tributers, European and Chinese, and. success cannot be hoped for by the individual miner and small syndicate dependent on immediately profitable output. In nearly every field operations have been suspended and discontinued immediately the easily-treated ores have been depleted and more complex metallurgical processes have been called for. In some instances, where more elaborate treatment has been attempted, there are evidences of faulty lay-out and operation of plant. Intensive Survey. “ In nearly every instance I am of opinion that, with due recognition of the undoubted impoverishment resulting from wasteful early development, the residues of the deposits are likely to be extensive and persistent at depth. Though much lower in average grade than would have been the case had the work been systematic from the start, many of the deposits are capable of supporting extensive operations. In probably every instance it is likely that intensive survey, assisted by organised prospecting and by up-to-date methods of investigation, will reveal details of geological structure not available to earlier observers which will materially facilitate development. “ Premature optimistic statements about values must be condemned uncbmprorr’ ngly. Fictitious claims of values are being advanced in some instances on the ground of more or less reliable assay results. Even where individual estimations have been carried out by official assayers it does not necessarily follow that they represent mine averages. Unless accompanied by an official statement to that effect, such results must not be regarded as representing any considerable tonnage. “ Developments in outlying areas indicate that there is a more than reasonable probability of the discovery of unsuspected deposits which may even be suitable for development by the fossicker provided the very serious difficulties imposed by the long wet season and the lack of transport facilities can be overcome.”

AUSTRALIAN EXCHANGES.

In its review of Australian conditions last month the National Bank of Australasia refers as follows to business on the share markets:— Bank shares continued to be influenced by the prospect of an early Federal election, which has since been announced for September, and by the likelihood of a continuance for some time of low interest rates. In general, prices for bank shares moved down by approximately 5 to 7i per cent during the month. Pastoral issues also were easy, the unsettled condition of the market for wool being the principal influence. Satisfactory rainfall late in the month and early in July over many pastoral districts imparted a slightly better tone.