C0R0MANDEL. ANOTHER RICH REEF. (FROM OUR OWN CORRESPONDENT.) November 12.

Daily Southern Cross, Volume XXV, Issue 3820, 16 November 1869, Page 3

COROMANDEL. ANOTHER RICH REEF. (FROM OUR OWN CORRESPONDENT.) November 12.

Yesterday forsnoon, the manager of the Puketutu and Whakaroa claims, Mr. Horsburgh, brought dowa the weloome news that he had struck a rich reef in the former olaim, at an early hour yesterday morning, and to strengthen his report produoed a tag containing about 261b, weight of some exceedingly fine specimens, thoroughly impregnated with gold, The formation of the Btone i* disintegrated and of a grayish tint, and the gold is thickly, though 'finely, distributed through it. 1 hese are, next to McLeods, the finest specimens that have yet come to light during this last rush. The above claims were taken up about three months ago, and were fully manned till about a fortnight eince, when a lease over the two claims was applied for, and they are now being worked as one claim. They are situated on the spur leading up to McLeod'e, and near to the Harbour View, Matchless, and Kapanga. Several drives had been entered, .but without any material remit, although it was known that gold must exist in the locality, as some very good surface specimens had been found on the Puketutu. During the past fortnight there hate been two men on the ground, prospecting it under th« direction of the manager. The gold was found in a drive on the Whakaroa Claim, which bad oply been put in as far as two sets of timber. Three well-developed leaders were cut through ia the course of driviner, and the one from which the gold was taken is situated near the top of the drive, and ia about a foot broad. The drive is situated in the centre of the claims, so thai there will probably be a large body of sfcone taken out. The exact course of the reefoan* not yet be ascertained, as it is hardly stripped far enough. It was intended to keep the discovery quiet for a day or two, so that tha claim might not be rushed, but somehow or another the news ooz*d out, and created a great deal of excitement. There has been a slight rush to the Tiki this week, but I have not beard of anything particular turning up there. I intend visitintt that locality •hortly, to bo enabled to lend you a report of what is going on. On Mon» day lust wo had a pretty strong sale from the aorth-easc, which mu*t have tritd tent pegs severely, but I did not hear of any casualty with the exception of the British Hotel, which was undergoing vomt alteration!, and wai blown off its blocks, causing a great smash amongst the bottles. The shareholders in the New Zealand Claim, Paul's Creek, are asking a high figure for shares, £200 for a half. A view of the reef, however, might warrant moh a long price being asked. Tne Government surveyors, under Mr. Drummond, are briskly encaged surveying the live of road preparatory to laying out a township. A. meeting of the shareholJers in the William Tell Claim was held at the Commercial Hotel yesterday, Mr. J. H. Ward in the chair. The minute s of the last meeting were read and confirmed. Ib was then proposed, aad car ried, that a'lease shoul t be applied for. Mr. T Waliia was" appointed working manager.