THE BULLFINCH MINE.

Hawera & Normanby Star, Volume LX, Issue LX, 29 October 1910, Page 5

THE BULLFINCH MINE.

ANOTHER RUSH SETS IN. BY CABLE— PRESS ASSOCIATION— COPYRIGHT. KALGOORLIE, Oct. 28. A rush has set in to a new find six miles west of the town. A four-feet reef is reported to have yielded from one to ten ounces to the ton. A FOREST OF PEGS. . AND A WORD OF WARNING. The Southern Cross Times, published in the vicinity of the Bullfinch Eldorado, of October 15 thus refers to the Bullfinch find :— "There is a forest of pegs around the big property, and knee-deep paths round the pegs. Adelaide seems to have gone crazy over the find, and cute gentlemen are supplying an excited market with as much saltbush as- it dares to purchase. Outside the Bullfinch leases there is little gold being found, and though the adjoining rocks have a speculative value, because of their positions, nothing has yet been found on any of them to warrant the public rushing in after interests a* fancy prices. On Bullant lease some very fair values are being got; and on Lang and party's ground there ap» pear to be excellent prospects. But outside these leases there is nothing to enthuse over. If the money that is being risked on the Bullfinch position blocks were devoted to the legitimate working of some excellent mining propositions that are being scattered along our 65 miles of auriferous belt, investors would stand a better chance of getting a profit on their outlay, and the industry would get that measure of assistance which it has so long needed. Yilgarn has, mines, and needs any amount of capital to work them. But capitalists must not lose sight of the fact that the Bullfinch owners have secured about 150 acres, and that every holding outside the Bullfinch pegs is a gamble pure and simple. Whether it is better to go into the gamble near Bullfinch or take less risks in a good venture on other parts of this great field, remains to be seen: "The absurd prices of shares in the option syndicates who hold options over the blocks around Bullfinch may be fjuaged by the fact that none of the eases under the option have been surveyed or recommended by the warden. Most of the ground is in dispute. AH of the eastern leases are in granite country, and there are only a few traces of gold being obtained on the best of the other holdings. Altogether boomsters have an oily, t flimsy title over areas of very questionable value. If the pranks of some of the gentlemen who are working option husiness, and people of the., east are not nipped in the bud 4 we shall find Yilgarn smelling in the nostrils of the people whe rush in on the word of unscrupulous boomsters. "From Bullfinch 200 tons, which are not' bagged, should go anything up to 20oz per ton. Altogether there are about 500 toifs bagged on the ground, which should average over 10 oz per ton. ' From a block 100 ft deep by 100 ft in length the. lucky owners of Bullfinch should recover well over a quarter of a million pound's worth of gold. . Outside this phenomenal ore, .the length of which has not vet been ascertained, there is enough high-grade stuff to make many fortunes. A shaft was started- some hundreds of feet i south-west of what wasi thought to be the boundary of the ore-channel, [ but when a few feet from the surface ore ■was struck at 60ft. A cross-cut is be- • ing put in. On Thursday 30 feet of highly-payable ore had been penetrated, and both faces were still in good" values.. The Bullfinch Company is sinking on ore estimated to be worth .100oz per ton. Mr Loring, of Messrs Bewick and Moreing, said last night that it was the best find ever he has seen. Roan's find, four, miles north of Bullfinch, is on good gold, specimen stone being shown here to-day. > Morris, who was out prospecting for Doolete and Shalleross, found the outcrop four miles south of the Bullfinch, and they have aoplied for eleven 24-acre leases.- The find at the Six-teen-Mile peg is said to be promising. Holmes' s find near Golden Valley is opening N up satisfactorily. The, town is full of mining men. Hundreds are forced to sleep outside, but the weather is fine, and outdoor sleeping is rather pleasant. Scores of new businesses have already been opened, including five solicitors. Motor cars are running in all directions day and H"-ht. This line of country is difficult to prospect. Owing to the clay and cement overburden it is impossible to test the leases quickly. The Governor and party were here to-day, and were much interested in the phenomenal developments. Over 100 24-acre leases have been applied for here within 10 days. A lot of capital is available for the old mines, which languished for years, owing to the prospectors' limited means and other disadvantages.