New Gold Co. Has Hopes In
p. 117 · Read in the full issue
N. Guinea
ANEW company, Gold Mines of New Guinea NL, had prospects of being a very large undertaking, the com pany’s mining consultant (Mr. J. c.
Coldham) said at a meeting of share holders in Adelaide on August 24.
Mr. Coldham returned to Adelaide re cently to report on a survey of the company’s fields in New Guinea. He pros pected and pegged the lower Bulolo River in New Guinea, and made the first tests for Guinea Gold NL in 1928.
A programme similar to that carried out by Guinea Gold NL was now being con ducted by Gold Mines of NG, he said.
Pit samples of No. 1 area, to be scout tested first, showed profitable values, and the bed rock would be suitable for dredg ing. The gold beaches in the gorge were very rich, and carried coarse gold. The area was 11 miles long by quarter-mile wide, said Mr. Coldham.