Gold Find

Reported from Central New Guinea

Large Area Pegged

Out

NEWS has been received in Australia of the discovery of a new and rich goldfield in Central New Guinea.

A representative of Central New Guinea Exploration Co. Ltd., after three months prospecting, came on the find, and his Company has already pegged out a large area. This Company is a Queensland flotation.

The discovery was made by the well known gold miner and explorer, Mr. E.

J. Ubank, who has had considerable experience in New Guinea gold-mining undertakings.

The find was the result of several months of assiduous labour. The com pany was registered on March 14 to finance an expedition into a district of the Mandated Territory, where the pro moter of the enterprise (Mr. E. J.

Ubank) believed that payable gold would be found.

Mr. Ubank left Brisbane on March 14, and left Lae, in the Mandated Ter ritory, for his final exploration into Central New Guinea on July 17.

On receipt of the cablegram the com pany immediately took up a large area on lease.

Mr. Ubank was the man who pegged the No. 9 gold-mining lease —the Ubank Lease—on Edie Creek, in May, 1927.