CANADA’S GOLD OUTPUT

Wanganui Chronicle, Volume 80, Issue 100, 30 April 1938, Page 9

CANADA’S GOLD OUTPUT

RECORD YEAR IN 1937 (From Our Own Correspondent.) TORONTO, Feb. 15. Production of gold in Canada dui ing 1937 passed four million fine ounces for the first time—the preliminary estimate was 4,054,799 ounces 1 which, at the average price in Cana-1 dian funds of 34.99 dollars per ounce, amounted to 141,877,000 dollars, a gain of 10,500,000 over the value for 1936. Canada is now enjoying her fourth and most important period of goldmining activity, which dates from 1931 when Great Britain went off the gold standard. The increased price of gold has caused unprecedented activity, not only in producing mines, but also in the search for and development of new deposits, and in the investigation of old prospects and former producers which could not be worked at a profit when the price of gold was 20.67 dollars per ounce, but can be worked at present prices. Reflecting the striking growth of gold mining in Canada, gold-milling plants in operation throughout the Dominion now’ number 128, with a daily capacity of more than 47,000 tons—the highest daily tonnage in the history of the industry. In addition 13 new gold-milling plants are under construction and eight more are proposed. In 1931 Canada had only 30 gold mills and production from all sources amounted to 2.693,892 ounces.

Much of the success of the gold mining industry in Canada during recent years can be attributed to the application of modern and efficient methods in the search for new deposits and to orderly procedure in the development of new properties. In all its stages from prospeting to production the industry is now so well organised that the expenditure of large sums in unwarranted efforts is becoming Jess frequent. Prospectors and exploration companies in their search for gold make full use of the wealth of geological and scientific knowledge placed at their disposal by the Federal Department of Mines and Resources, and by the several provincial governments.