THE LYELL REEFS.

Grey River Argus, Volume XV, Issue 1907, 16 September 1874, Page 3

THE LY ELL REEFS.

[communicated.] Being fully aware how little is known here respecting the progress and actual workings on the Lyell reefs, and having spent some months in acquiring a thorough knowledge of them, both practical and theoretical, I forward a brief account of the state of things as they were when I left last week. Commencing at the southeast end of the field, which is on the opposite side of the Lyell creek from the Alpine range, there are several leases taken up, viz., Homeward Bound, Rise and Shine, Maid of Erin, and Central Buller (late Golden Crown), the latter of which is the only one at present being worked, and that by two men only. In this claim they are working upon a very good gold-bearing leader, but have not as yet opened it out sufficiently to admit of many hands being engaged. I saw several very good prospects washed from this tunnel, there being good coarse gold in the washdirt, as well as rich specimens of gold-bearing quartz, and considering the facilities for conveying and erecting machinery, as well as for the easy development of the leaders, there is no doubt but this will turn out a really good claim, indeed shares are eagerly sought, and high prices given even now. Across the Lyell, in the direction of the Alpine range there are several claims upon which nothing is being done, viz., Long's lease, Tambaroria, Don Juan, Albion, Telegraph , and others, the leases of ; the Golconda and Universal having been cancelled a few weeks since on account of { non-compliance with the regulations ; 1 the latter, however, has been again taken '. up by a new company, who have great '. hopes of its turning out well from its I proximity to the Excelsior. The Albion, 1 too, is looked upon as being in a good < locality for the same reason, and work 1 will most probably be commenced upon it i shortly. With respect to the United Excelsior and Alpine Company,- T can safely say they are a very strong party, both as regards funds and thorough practical knowledge, and whether the large reef, which they are so persistently driving for, and which may be struck any hour, turns out as rich as is generally supposed or not, it is quite certain that the ground will have a good trial, and be systematically worked under the present management. Everyone there is anxiously awaiting the result of their enterprise, and hoping it will prove a success, beth for the sake of the Company as well as the field in general ; for if it turns out as well as expected it will give new life to the whole district, and cause many adjacent claims to be prospected, and most probably induce capitalists to invest with greater confidence then they have hitherto done— the only thin^ wanted there now. Should they strike good gold the William Tell Company's ground, upon which a deal of money has been expended unsuccessfully, will be worked immediately, as it will give the directors a good idea where to drive for and find the reef which, there is little doubt, runs through a good position of their claim. The Little Wonder claim is still being systematically worked, and a large quantity of splendid stone is in the pae'dock ready for crushing, the yield from which is expected to be as good as on" former occasions. At any rate the proprietors (Carroll and Cairns) deserve it for the plucky manner in which they have invested so large an amount in che erection and construction of machinery, water-race, tramways, paddocks, &c., thereby, to a great extent, assisting in the early development of the many good claims now being worked. The Oriental claim is still being worked without great success, but the directors are confidently hoping to be richly rewarded at no distant date by finding some of the Little Wonder leaders. They certainly have gold now, but not to the extent one would like to see. The Lyell Creek Company are still working upon a very good leader, and under the present management there is little doubt it will soon be well developed and turn out a good claim, its proximity to the Little Wonder giving the shareholders every confidence. The Monte Christo Company are driving a new tunnel for working the splendid leader (supposed to be one of the Maruia leaders) which they found some little time ago, it being impossible to work it from the low level tunnel. This is really a good claim, as the price of. scrip and ready sale will show. There is a proposition to amalgamate it with the Central Company's claim, and I think if it can be satisfactorily arranged it will be greatly to the. benefit of both claims, as the low level tunnel, which is driven some 700 ft in the Monte Christo, will suit admirably for working the Central, and on the other hand there is every probability of the latter carrying more of the gold-beariug leaders than the former ; therefore it will most probably be to the mutual advantage of both. Whether they amalgamate or not, they are and must be two splendid pieces of ground, and it will not take a 1 long time to prove the correctness of. my ' assertion. The Long Drive Company have been working some time without knowing what particular object they had in view, and therefore without great success, but there is no doubt some of the Maruia leaders must run through a portion of their ground, and if the new manager goes properly to work they may be found iv a short time. The Maruia Company have a large number of hands employed getting out stone, and will be ready for another crushing as soon as they can have the use of the machine. The value of this claim may b«5 easily imagined from the immense amount which has been paid in dividends during the last nine months, and the management is admitted by competent judges to.be all that could be desired. The Break o' Day Company, too,, are employing a large number of men, and the claim is looking exceedingly well. I'hey are at present crushing, and a good

} , dividend is confidently expected by the [ shareholders as the result. Malony's or Prospectors' last crushing ' did not turn out as well as exnected, • neither was the dividend a good one conl sidering the time they have been engaged , in getting stone. There is little doubt as to the value of this mine, but the management has not been satisfactory. One must admit where 3ome five or six men ! are working together, each having the i same interest and say in the matter, with- . out a recognised leader, they cannot progress satisfactorily. However, lam of opinion that some new means will be devised for its future management, and that it will yet prove itself as has been always supposed — a really good claim. Messrs Carroll and Co. have just commenced operations on the Ophir claim, { which adjoins the Break o' Day, and as the leaders have been traced into this ground there is little fear as to the result, and that is that it must be a rich claim. By-the-bye I must not omit to mention that a party applied recently for the cancellation of their lease, on the ground that the regulations had not been complied with. The Warden took evidence on both sides, but could not decide the matter, as the power to cancel rests only with the Superintendent. My own opinion is .that it will not be cancelled, as Carroll and Cairns have so recently expended so large an amount in erecting machinery, &c, therefore, if not actually engaged in mining on the ground, they have been employing a large number of men in the vicinity. It would be a good thing for the field in general if the Superintendent gazetted a notice to the effect that he would cancel in future any leases which are not properly manned, as there are an immense number upon which nothing has been done or is being done ; such a notice, therefore,- would either compel persons to throw up the ground, or proceed .to pro- | spect it at once. On the Alpine side of the Eight-mile Creek there are the Morning Star and Welcome claims, both of which are in a good line for catching the Break o' Day leaders, and upon which work will most probably be commenced shortly. To the northward of the Eight-mile Creek there are a large number of leases taken up, viz., Young American, Young Ireland, Alma, Queen of Sheba, New North, Mississippi, Great Extended, Stella, and Sons of Freedom, none of which are at present being worked (most of them having been so recently granted), but there is every probability of operations being commenced very shortly on some of them, especially the latter, which has just been formed into a company under the Limited Liability Act. At New Creek, some three miles across the range from the last named claims, there are six leases taken up, viz., New Creek Company, Lord Nelson, Tich borne, Maiden City, Star of the South, and Nil Desperandum. There is a good body of gold-bearing stone from 3ft to 4ft thick at present being worked in the Tichborne, and the Maiden City Company are driving for the same reef, which, if found where they anticipate, will make the New Creek district look up wonderfully, more particularly as there are no great difficulties to be overcome- either in developing the reefs or ' conveying and erecting machinery. On the whole, therefore, the Lyell district is certainly in afprosperous state, and all persons interested are expecting business in general to be very brisk there this summer. What is really wanted is a little foreign capital, as at present money is scarce, and there is little doing in the transfer of shares, simply because most persons hold so much interest themselves. One thing 1 can safely say, there < are no idle men there, and all who are mining get L 4 per week, and lose no time; ! and after one or two more crushings, and ! good dividends have been declared, there ' will be a steady influx of people with '' capital, who will greatly assist in the ■ further development of the wealthy claims • which are know to exist there.