Fiji’S Gold

The Confidence of Dr. Loftus Hills

GOLD mining is proceeding on a fairly large scale on the new Tavua field in Fiji; but, notwithstanding this, Tavua field remains a puzzle to the majority of specu lators. They cannot decide whether the thing has been monstrously overboomed; or whether there is gold there to justify the avalanche of flotations which last year disturbed the stock markets in Melbourne and Sydney.

The Tavua field has been established largely as a result of the reports of Dr.

Loftus Hills, described as “Australia’s lead ing geological expert.’’ Dr. Hills has been back in Fiji recently and has made a re port based on a further geological survey.

This is how Smith’s Weekly sums it up: Summarised, the report postulates the following important points:— (1) That the lode is at least 1200 ft. in length. (2) That surface values are succeeded by lower values immediately below, but show appre ciable increases at 20 to 40ft. down. (3) That the first diamond drill showed 9V2 dwt. at 300 ft., and only 4y 2 dwt. at 40ft. (4) That the important gold-bearing zone can not be expected above 750 ft. from the surface with payable values down to 300 f- at least.

Further than this report. Dr. Hills states, in another communication, that the results disclosed in the recently completed geological survey of the field, have an important bearing on the future of the area as a gold producer. The payable portion has been narrowed down to five square miles— greater than the area on which payable mines in Kalgoorlie are operating.

He at least has retained the optimism he ex pressed from the start and has given the opinion that —“the Tavua Goldfield will speak for itself during the coming months,” and that “this will not be the first time that pessimists have been made to look foolish over the Tavua Goldfield. It is a field dangerous for pessimists to monkey with.”

Despite this, Fiji gold shares remain sick. As will be seen from our mining re ports in this issue, a number of areas on the Tavua field have been abandoned.

It is obvious that, if Dr. Loftus Hills is right, bold speculators might make fortunes by purchasing certain of the Fiji gold-mines shares at the low figures to which they have drifted in recent weeks.