LURE OF GOLD

Wanganui Chronicle, Volume 72, Issue 198, 21 August 1929, Page 7

LURE OF GOLD

DEVELOPMENT AT WAIHI NEW COMPANY TO BE FORMED A RICH HARVEST IS EXPECTED (Special to “Chronicle”) AUCKLAND, Aug. 20. Special efforts are to be made to re vive goldmining at Waihi, where manj years ago, bullion worth many millions was obtained. Faith in the latent wealth of thei: district has been shown by the residents of Waihi, who arc keenly interesting themselves in a movement instituted by the Mayor (Mr W. Al. Wallnutt), to further investigate the Southern llauraki goldfields (Waihi section). The movement is calculated to revive the goldmining industry in the district, and continue to give employment ‘o 600 men directly employed on the fields. It is important, if the industry is not to decline, that fresh discoveries of gold-bearing reefs should be made. It was proposed to form a company with a capital of £30,000, said Mr Wallnutt this morning. He added that the object was not one of financial gain, but to show that there was a reasonable possibility of lurther auriferous deposits being located. The cessation of mining would be an absolute calamity. It was considered that there were great possibilities. If scientific investigation were carried out, resuscitation was not an idle dream, and that view was shared by many mining men.

He mentioned that the Waihi mine had produced bullion worth over £16,000,000, and paid over £7,000,000 in wages. The immediate programme of the company would be one of investigation, and in this connection, it was proposed to enlist the aid of the Director of Geological Survey (Dr. Henderson).