THE INANGAHUA REEFS.

Grey River Argus, Volume XII, Issue 1090, 1 February 1872, Page 2

THE INANGAHUA REEFS.

(FROM OUR OWN CORRESPONDENT.) Reepton, Jan. 30. When shares in these comparatively unknown reefs command the Tery handsome price at. present realising, it may be reasonably inferred that as soon as ±he numerous claims .on- .the various lines of reef are properly organised and regulated under the, Mining Companies' Act,:the value of stock will be considerably;! enhanced, and, such: :an; impetus given to mining speculation as has not hitherto, been known in the Middle Island. True, the reefs may not be so rich as those of the North Island; but that circumstance is more, than balanced, by the more general and regular distribution of gold through the quartz .lodes, and' the immense extent of ■country -they are' known-to' traverse. Already, in the case of Kelly's line, .has the reef been traced' in' a' northerly direction for upwards of a mile, and there is every reason ...to' believed that, the same line is provedan equal distance south, although," pending survey, it is-merely a" surmise. Nevertheless,' a reef, let it be a continuation or not of Kelly's, is found in this 'direction; bearing gold,; so that we have in this .single instanca the existing certainty- Of ; a reef 'or reefs' for a proved distance tof two miles in length. ; Now, , assumingthe other five mile^of reef t6 be. ultimately traced to a corresponding length, ' we have twalye miles of auriferous ; stcne awaiting, the 'profitable Employment •of capital to reduce it to a negooiable con' dition. And, en passant, I may observe that in any other country such a, source of wealth would long since have been realised lipori, and the. surrounding mountains now echoing back the ;. steady thud of the crushing batteries, In California^ or nearer home, in the" adjacent Colony of Victoria, an opportunity for the investment of capital would be appreciated in a manner that, instead of the district being an almcjst unapproachable and isolated wilderness, outside the pale of civilisation, withojut roads, without postal communication, without police, in short, Avithout every- ' thing conduces to the permaneht settlement, and general prosperity of an energetic and persevering community, the very opposite would be the result, and the spirit of enterprise that dominates iin the Anglo-Saxons would befurtherjslimu- ~ c\ted by the fostering care of a liberal

■■.• i '■ ■■' '-• ' ■' ' : ' : : i and enlightened Government. But j'what avaiW ,the exposition of ; such^ -palpably evident truths. The callous deterrainatibn of our paternal -Provincial rulers to neglect the gold fields has, and ever , will, evince itself to the end of the chapter./ The v> trp,ubje,, and. bother thatis likgly tp w ensue over the leasing question is a case" in point. : • ■ . ..".. ' ,■ , i The question of leasing versus tenure by, rniner|s right, is, and . always has been a difßculty. r? , ][t,has been raisedin Victoria,] New South! I ; ..'Wale?i and more/ recently in the Thames, resulting finally in, the' adoption of the leasing regulations asi the only system under which quartz miriing 1 can be effectively prospected. As I have' previously asserted, large capital is essentially necessary to promote the further-! ance of such undertakings as are requisite in quartz mining.; and by the introduction of capital, atid'capital only, can labor participate, in the benefit to be derived. The justice of the miners', title by virtue Of his miner's right must at all times be irecogi nised, for the persevering energy— arid it must be admitted, indomitable pluck of the miner 'must be attributed the early development and present increasing importance of these southern dependencies. You were advised in my last of a rush to Boatman's Creek, a rich reef having j been discovered there, and certainly the specimens exhibited in town justified the term, nothing equal to them having been preyiously. seen here. But.it now appears they were obtained from au immense boulder laying ifr the creek. Fromwhenc^ it came, or -from, what reef detached, has yet to be found out— information I expect shortly to supply, However, from/the nufhber of rben rushing about by caridlej light, as. well 'as^.daylight, there is a prOr b'ability^ of. some one tumbling .over the treasure." - ' : • . Shiel's; Prospecting Gompany. anticipate starting their battery on the 19th Feb.j when, I am informed, it-is their intention : to.crush 600 tons before cleaning, up, whicli will certainly be, a yery fair test,-, anyone j otf the reliiit'of ' which numerous" suits of clothes ; will have to be paid for in acknow* ledgment on bets on the yield per j- "tbnl,, five ounces per, ton. being held by, many as the probable returns for the 600 tons. j Some of our most prominent reefers were lately the victims of mis-placed confidence^ or, in the vulgar tongue— sold. The story, is as follows :— A .long, wiry, cute-looking North American extract, rejoicing in the name of Bill Garse, soirie time before Christmas last reported, in strictest | secresy to afayored few, airiong'whpni was a well-kri6wri merchant of- a verj^ similar name, a resident "of Westportj havirig found a very rich reef,' the richj ness, of wliich he Vouched for by assuring them he had obtained several, ounces , of gold by crushing a small quantity of stone with a hammer. Accordiugly, after the holidays were over, it was agreed 'the select and favored few were to be shown .the Eldorado..; In pursuance of which .the Westport merchant cariie to Reeftorii and as he could not , undertake the task of racing about the' mountains in person^ entered into awritten agreement with the beforementioried'prbriiirient reefers to the effect that in consideration of the injformation' imparted, and the probability therefore of said reefers obtaining shares in No. 1 north' and south, they should caref ullyi guard, and watch the merchant's interests. But,, alas for. blinded faith in man's sincerity. 'Arriving at a distance about fourteen miles iv a northerly direcjtion on tlieir journey an encampment was reached, and in order nqt to r attract the' attention of the inhabitants, it was .urged by "Bill", that. , he should trieeti them at a given point' iii |eri •minutes.,: The^minutes elapsed, and'tj&en the hours, and finally, to the discomfiture of the expectarits, night drew, on, finding them anxiously waiting the appearance of Bill, but Bill, it Appears, decided if he had a reef not to gratify their' sense of sight,, for he has not turned up yet, and I should strongiyladvise, hitri not tpldiscpyer^himself for some little time to come. Rhody Ryan's patty are breaking out splendid.3tone, as also Shiel's Company and Victoria. The last named coriipariypurpose having a meeting at an early date, to consider the; advisabiSty of registering the j company under the Mining Companies Act. ' '• ■•••■ ' '.■-;■■• ■■■• : ■