Auriferous Lands.

Such land may be held under licences issued for a period not exceeding one year, under which the licensees may reside on or cultivate any land coloured as auriferous on the county maps, and not situated within any city, town, or borough. Any such licence shall not cover more than 20 acres; and not more than one licence shall be granted to or held by any one and the same person.

No land coloured as auriferous on the county maps shall be alienated in fee-simple.

Annual licences for purely grazing purposes may be issued for the occupation of auriferous land that may not be required for mining purposes. Such licences are renewable annually for a period not exceeding five years. Such licence shall not be for a greater area than 1,000 acres, and no person shall so hold more than 1,000 acres of such auriferous land.

The annual rent per acre to be reserved in every such licence shall be fixed by valuers appointed by the Board of Land and Works.