COROMANDEL. DISCOVERY OF FOUR RICH LEADERS OF GOLD-BEARING QUARTZ.

Evening Post, Issue 245, 20 November 1865, Page 2

COROMANDEL. DISCOVERY OF FOUR RICH LEADERS OF GOLD -BEARING QUARTZ.

By the arrival of the paddle steamer Tasmanian Maid from Coremandel, we (New Zealander, 10th November,) have important news from that district. Mr. Ring, manager of the Coromandel Gold Mining Company, arrived by the steamer, and has kindly furnished us with the following particulars, and has also shown us some very rich specimens that he obtained in the above company's claim. The claim has been for some time past at a stand still, owing to the machinery being out of order. After the machinery wa9 mended and everything set in working order, they commenced bailing the water out of the shaft, and when dry the manager went down to examine the slabbing. When he descended about 120 feet he found no slabs, and upon examining it he discovered a leader of quartz bearing gold, and upon further examination he found three more leaders bearing gold. Tue leaders, from appearance, descend, and it is supposed when a few feet deeper they will join together and form the main reef. The specimens that we have seen are very thickly studded with the precious metal » and we have no doubt will doubly repay the enterprising company for the heavy expenditure they have had. Fiona the manner in which the leaders seem to run it is the opinion of Mr. Riu^, that the reef will run through the claim ; he aUo thinks that it will prove to he far richer than the Kapanga Gold Mining Company's claim. , The claim known as No. 6 has also struck a very rich quartz leader bearing gold, running in the same direction ao the above claim. In No. 3 they opened a new drive, and when a few feet in they struck a leader of quartz hearing gold. The mineral is coutined to a vein about 3 inches thick, uud is reported to be gold-bearing quartz. The Kapanga Gold Mining Company, when hearing the above news, opened a drive to try and cut their leader. In a few days we hope to be able to learn the size of each leader, and have a fuller account of the progress of this new El Dorado