GOLD AND THE GOLD FIELDS.

Grey River Argus, Volume XI, Issue 923, 12 July 1871, Page 2

GOLD AND THE GOLD FIELDS.

[ARGUS SUMMARY FOR JUNE.] The improvement which has been noted for the past few months in the yield of gold obtained in the Colony still continues. It is now generally believed that the gradual falling off in the returns of gold which has been recorded for some years past has been arrested, and there is every prospect in the future of an increase in the quantity of gold that will be found, as compared with late results. The most gratifying feature in connexion with this industry in Victoria has been the gradual, but at the same time important, progress and development of quartz mining in the Sandhurst district, where fresh discoveries are constantly reported of new quartz reefs, which promise to yield good returns for many years to come. So highly have the prospects of many of the older companies in this district, and some of the new ones, come to be appreciated in the market, that speculation in their shares has reached a point of excitement amongst investors and sti.ck and share brokers such as has never been witnessed in the Colony before, except on Ballarat, and only there in the most prosperous times of that district. Some of the claims in the district are valued at scores of thousands of pounds, the valuations not being fanciful ones, but the actual current price of the shares on the Stock Exchange. The Sandhurst correspondent of the Argm, in his last week's report, refers as follows to the state of affairs in the Sandhurst, or, as it is quite commonly termed, the Beneligo district : — " Another week of groat prosperity has been witnessed in this district, not only in the matter of business in- the share market, but in the prospects of the claims in all parts of this gold field. The amount of money changing hands is, indeed, heavier than ever known previously in the annals of Bendigo. The return of gold purchased for the past month is above the usual weekly average, and should the last week's have happened to have been included, the average would have come close up to 6000oz a week. As it is, we have obtained 52430z 3dwt lgr, or a total for the four weeks of 20,9720z 12dwt 4gr, of a value of about L 85,00 0; and this must undoubtedly be increased, &a several of the southern claims on the Garden Gully not previously yielding gold are now on the rich stuff, and will be furnishing some very large returns. Several new companies have been formed during the week, and several are now pending, and these are of great magnitude in some instances, requiring a very heavy amount of cash to be paid down by our wealthy speculators, which it might be thought would have an influence on our market rather detrimental, so muoh capital being locked up ; but at present there seem no signs of abatement in speculation." There have not been any matters of

special interest noted during the past month in regard to the Ballarat district, but the yields reported are up to the average of those obtained for some time past. Considerable iuterest has, however, been shown lately in the district with reference to several new theories as to the deposits of gold in that locality. The large companies on Ballarat, from whose claims most of the enormous quantities of gold returned by that district were got, have hitherto found the gold in deep ground, but a recent discovery of a valuable reef- wash in the Band and Albion Consols Company at a level nearer to the surface than their deep- wash, led to the belief that there had been different deposits at various times, which had bsen covered over with inundations of volcanic lava, and it was concluded by many that the companies in pushing downwards to their deepest ground, had most probably neglected what would be found yet to be profitable runs of gold. The discussion of this theory has led to the propagation of others by some of the gentlemen on Ballarat who, from their long experience, may be considered as best able to form opinions respecting gold deposits ; and a3 public attention on Ballarat is now fully directed to the subject, some valuable results in the direction of the discovery of new layers of washdirt may perhaps be achieved. The most substantial proof of the present prosperity of gold-mining is furnished by the export returns of Victorian gold, from which it appears that the quantity exported this year is in excess of that sent away to the corresponding date of last year to the amount of 117,2370z, representing in value nearly half a million of money. Up to the week ending 10th May, the amount of Victorian gold exported was 661,8250z, whilst the amount to the corresponding week in 1870 was 544,5880z. A new diggings was recently opened up at Stockyard Creek, Corner Inlet, near Wilson's Promontory, Gipps Land, the progress of which has been watched with interest, in consequence of the locality being some distance from any other workable gold field. It was considered that if the diggings proved remunerative there was every reasonable ground to believe that the country thereabouts, as well as that intervening between it and the other fields now being worked, was auriferous, and, if so, a large area would be added to the already extensive gold-bear-ing districts of the colony.

The reports of the mining surveyors and registrars for the quarter ending March 31, 1871, have been issued by the Mining Department. They supply the following information : — At the close of 1870 the total number of miners employed oh our gold fields was 60,365 — viz, 43,879 alluvial and 16,486 quartz miners ; while ou the 31st March, 1871, there were 42,460 alluvial and 15,760 quartz miners, making a total of 58,220. This shows an apparent decrease in the number of miners employed of 2145 ; but these returns, so far as they relate to population, are not to be taken as altogetherconclusive. The distribution of the mining population, according to the figures returned by the registrars, was, on the 31st March, as follows : — Ballarat district, 14,352 ; Beechworth. 8720; Sandhurst, 8824; Maryborough, 11,586 ; Castlemaine, 8776; Ararat, 3073 ; Gipps Land, 2889. The machinery employed in alluvial mining at the end of the quarter consisted of 604 steam-engines for winding, pumping, &c, of the aggregate horse-power of 9933, together with 343 steam puddling-machines, 39 buddies, 1582 horse puddling-machines 296 whims, 281 whips or pulleys, 18,902 sluice toni3 and sluice boxes, 12 hydraulic hoses, 841 pumps, 301 water wheels, 267 quicksilver and compound cradles, 596 stamp heads (for crushing cement), and 17 boringmachines. The machinery employed in quartz-mining consisted of 704 steamengines, employed in winding, pumping, crushing, &c, of the aggregate horsepower of 13,480, besides 74 crushingmachines driven by other power, 6563 stamp heads ; 32 buddies, 3 water-ma-chines, 630 whims, 586 whips or pullies, and 10 boring-machines used in blasting. The approximate value of the whole mining plant of the Colony was L 2,103,548. The number of square miles of auriferous ground actually worked upon was 941£, and the number of quartz reefs actually proved to be auriferous was 3054. Taking the districts separately, the value of the mining plant in each was as follows : — Ballarat, L 547,834; Beechworth, L 301,108; Sandhurst, L 435,470 ; Maryborough, L 284.338; Castlemaine, L 277,825 ; Ararat, Llll,413; Gipps Land, L 145,559. The area of ground actually worked upon was divided amongst the various districts in square miles as follows : — Ballarat, 99£; Beechworth, 241J ; Sandhurst, 139 A; Maryborough, 77J ; Castlemaine, 170| ; Ararat, 81 ; Gipps Land, 132£.

Some of the details rupplied with reference to the quartz yields are interesting, as showing the depths at which payable stone is now obtained. Thus, in the Ballarat district, the Temperance Company is carrying on operations profitably at a depth of 650 f t; the New Criterion Company, in the Creswick division of the same district, is getting gold at the depth of 619 f t; while in the Steiglitz division the Albion Company, on the Portuguese Beef, obtained 13460z of gold from 1216 tons of quartz, at the enormous depth of 755 ft; "As showing the waste of gold during the early days of quartz crushing," says the Gipps Land Mercury, "it has come to our knowledge that a party of six bought some 60,000 tons of quartz tailings at New Chum, and with the view of testing its value, sent home 16 tons of the pyrites as a sample. This mail a telegram has reached them via Galle with the pleasing intelligence that the yield is 4oz 18dwt of gold and 18dwt of silver per ton. Among the lucky speculators is one of the pioneers of the Stringer's Creek quartz mines," The following anecdote respecting a valuable quartz mine now yielding large returns appeared in the last week's Australasian : — " Amongst the fashionable companies of the Bendigo district is one known as 'Wilson and Co., Marong.' Very lately Mr Wilson sold this valuable claim to a proprietary company, and within a mouth of the purchase two large dividends have been declared. The history of this claim reads like a bit of romance. A weary and footsore traveller called one evening at a bush tavern. He asked for a bed, but as he had no ready money, he was hospitably referred to airier lodgings in the bush at the back of the inn. That night he made his solitary camp, and fossicking about in the morning came upon indications which led on to the discovery of a valuable reef. This 'man was Wilson. Within a short time,

from the produce of his clagp, he bought out the inhospitable landlord, and after working his mining property profitably, Mr Wilson has disposed of a portion of his interest, the property representing in the market, at current prices, about L 20,000."