The care necessary to ensure a reliable estimate of average value from the individual values of a series of bore holes sunk in any alluvial deposit containing coarse gold was well exemplified in checking over the mining returns from a previously bored deposit in Central Otago, N.Z. While the working returns are always liable to vary considerably from bore values in any particular sub-section of an area, still, over any considerable area, the two must check within small limits, if profits are to be calculated and capital raised on the average value given by boring.The present figures have probably more value than those from, dredge returns since accurate measurements are difficult to obtain in irregular water-filled dredge paddocks, whereas in the case under review the paddock walls stood almost perpendicular, and, as the measurements were taken and checked in the empty rectangular excavation, the yardage estimate may be taken as substantially exact.NATURE OF DEPOSITThe area consists of a narrow valley deposit of fluvio-glacial origin, the original deposit having been eroded and the gold reconcentrated by post glacial rivers. The wash is between 80 and 90 ft. deep, and is formed in two distinct layers:(i.) The top layer from surface to 70 ft. or 80 ft. consists of about equal quantities of gravel mixed with glacial drift, and a small amount of clay. The gravel is typical discoid glacial stone of a maximum size of about 4 in. diam. by 1 in. thick, and consists of soft micaceous schist and laminated slate. This upper layer of wash contains no coarse gold whatever, and very little fine; indeed, in mining, the top 30 ft. is discarded without being passed over the boxes.(ii.) The lower layer of wash to bedrock is similar to the upper, except iihat it contains about 10% of larger discoid stone up to 12 in. diam. by It in. thick; 90% of the gold is concentrated in this bottom layer.