A WORD OF WARNING.

Marlborough Express, Volume XLIV, Issue 255, 4 November 1910, Page 3

A WORD OF WARNING.

The Southern Cross Times of 15th October 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 arc 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 v j of them to warrant the public rushing in after interests at fancy prices. On Bullant lease some very fair values are being got; and on Lang and party's ground there appears 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 of the excellent mining propositions that are scatteredalong our 65 miles of auriferous belt, investors would stand a better chance of getting a profit"oh 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 b aye secured a bout 150 acres, and that every holding outside the Bullfinch pegs is a gamble, pure and simple. Whether it is better to go into thel gamble near Bullfinch, or take less risks in good ventures on other parts of this great field, remains to be seen.

"The absurd price of shares in_the option syndicates who hold options over the blocks around; Bullfinch may be gauged by the fact that none of the leases under the option have been surveyed pr recommended by the warden. -Most of the grb.tmd is in dispute. All of the eastern leases are in granite country, and there ar© only a few traces of gold'being obtained on the best of the other holdings. Altogether boomsters have an oily, flimsy title over areas of very questionable value. If the pranks of some of the gentlemen who are working option business, and people of the east are not nipped in the bud, we shall find Yilgaru smelling in the nostrils of the people who 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 tons bagged on the ground, which should average over lOoz 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 pounds' worth of gold. Outside this phenomenal ore, the length-of : which' has not yet been ascertained, there is enough high-grade stuff to make many fortunes. A shaft was started some hundreds of feet southwest of what was thought to be the boundary of the ore channel, but when a few feet from the surface ore was struck at 60ft. A crosscut is being put in. On Thursday 30ft of highly-payable ore had been penetrated, and both faces were still hi good values.