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Lave been close upon 800 tons crushed, at an average yield of about 1 oz. of gold per ton. Along and from the adit five shafts have been sunk on the reef, ranging from 12 to 100 feet in depth, in all of which it (tho reef) has proved to be auriferous, though, with tho exception of one, not so rich as in the old workings. In the two deepest ones (70 feet and 100 feet) the reef was rather irregular towards the bottom. Outside the adit there is a sixth shaft of 80 feet in length, in which the reef has also proved not unpromising. The new deep adit, which is about 170 feet in, is driven in tho direction of this latter shaft, and will soon reach the reef, provided the latter has not suffered any change in strike and dip. Considering, however, the frequent occurrences of this kind, viz., the eastward jumps in tho worked-out ground, it must be apprehended that they exist likewise in depth, and it would therefore have been wise to cross eastward for the reef before proceeding much farther with the adit. Mr. Stephenson is very sanguine of the reef proving payable down to the level of the latter, and, if so, looking at the height of available backs to rise upon, the company would be in a prosperous condition for a considerable time to come. Proposed Bong Tunnel Company. —On the high spur (the " Long Ridge ") between two branches of Smith's Creek, west, opposite the Caledonian Company's mine, a number of small mullock reefs have been superficially worked, one of which, the so-called Border Chief Reef, is about six inches thick, and is said to have paid 6 oz. of gold per ton. The topographical features being very favourable, a company is projected, so Mr. Colclough informed me, for driving a deep adit from the bottom of the spur, to test these reefs and the Caledonian reef in depth, perhaps at 500 to 600 feet, and also to extend it towards the group of rich reefs lying at more than 1,000 yards horizontal distance, and about 1,000 feet higher up the range; the stretch of ground intermediate, though no reefs have as yet been discovered in it, presenting also rather favourable indications of their existence. All I can say about this expensive project is, that it is a legitimate one, but it seems considerably moro risky than the Bendigo Deep Level, irrespective of its not having the advantages of the latter —touching a ready supply of water for crushing purposes. The Star of the Fast Company : Managed by Mr. Archibald Cameron.-—The old Star of the East Reef strikes E. 20° to 25° S., and dips northward at 50° to 56°. It was opened by an adit in strike a length of 480 feet, which rendered a height of 108 feet of backs available beneath tho top of the hill, into which the adit penetrates. These backs have been worked out for 250 feet in length to near the boundary of the company's ground, whilst also a large portion of the reef has been removed from undcr-foot, between two shafts, 60 feet apart and 60 feet deep on the underlaj', which workings produced about 1,200 tons of crushing stuff—all quartziferous mullock—which yielded in the average 12 dwt. of gold per ton, the reef becoming more solid and improving in depth. In the backs the reef ranged in thickness from 2to 8 feet, average 4 feet, and paid about 14 dwts. per ton. As its farther working under-foot from the upper adit proved too expensive, the company started a deeper adit from the other slope of the range, at nearly right angles towards the reef. This adit had, at the time of my visit, advanced a length of 440 feet, and Mr. Cameron expected to strike the reef at another 40 to 50 feet, provided it preserved the same underlay as where last worked under-foot from the upper adit. The height of backs to rise to these old workings would be about 250 feet. At a distance of 386 feet from the adit mouth the company had, however, the luck of intersecting a new mullock reef, which proved payably auriferous, and was at once opened up, and has been extensively and properly worked since. A main drive along its strike is 230 feet in length, and the stopes extend on the west side of the adit for about 70 feet in length and 90 feet in height, on the east side respectively 60 feet and 80 feet, and prospecting rises are opened some 80 feet higher on either side. The height of backs still available for stoping is estimated at 200 feet. Two prospecting winzes, 30 feet apart, have also been sunk from the drive to the underlay of the reef —one, 40 feet deep on the east, the other 60 feet deep on the west side of the adit. The reef strikes, according to these workings, E. 15° to 20° S., and dips northward at an angle of 50° to 56°, a course nearly parallel to that of the old reef. It was found to range from a mere string to, in places, over three feet in thickness, the mean being about two feet. It twists and turns, in strike and dip, in places in a most perplexing manner, and Mr. Cameron deserves great credit for having persevered and succeeded in following it in its tortuous course. The average yield of tho crushings has hitherto been 28 dwts. of gold per ton, and there is at present no apprehension of a falling off. Both in strike, at the two faces of the main drive, and in dip, in the winzes under-foot, tho thickness of the reef was, however, below the average. As far as Mr. Cameron has observed, the best paying stuff dips at a rather sharp angle in strike eastward. Of further particulars about this reef, I learned that its existence was long ago surmised, and it was originally searched for by the Black Horse Company, by two deep shafts, sunk in a mullock slide on top of the range, in about the line of the present deep adit, and which would hake struck it if continued not many feet deeper. There is a possibility, though by no means a strong one, of this reef and the old reef being identical, i.e., that the latter represents a faulted portion of the former, in which case it would of course be found suddenly cut off in depth. Tho deep adit will, for the sake of the company, I hope, soon dispel any apprehensions in this respect, by striking it at the calculated distance. As regards the crushing machine of which this company and the Heart of Oak Company, next adjoining, are co-proprietors, it is managed by Mr. W. Menzies, and consists of 10 heads of revolving stamps in two batteries, driven by a steam engine—brown coal serving as fuel. Hot water is introduced into the stamper boxes. As gold saving appliances are used, amalgamating tables and blanket strakes of 14 feet in length, laid at an inclination of 14 inches per foot. The blanket-sand is treated in the barrel, and a shaking table serves for concentration of the amalgam. Mr. Menzies, who evidently understands his work well, is aware of a loss of fine gold, which is frequently increased by too limited a supply of water. The serious want which affected all the companies on top of the range from the commencement, will shortly, however, be removed, and the gold mining interests of the district generally will be greatly benefited by the completion of an extensive race, carrying a powerful steam of water, constructed by the Carrick Range Water Supply Company. The Heart of Oak Company: Managed by Mr. Thomas Scott. —Tho prospects of this company are of a high order; for its ground, which is west, adjoining that of the Star of the East Company, encloses three proved auriferous reefs, viz., the Old Star of the East Reef, the Old Heart of Oak Reef,