THE BULLFINCH MINE

Taranaki Daily News, Volume LIII, Issue 169, 26 October 1910, Page 5

THE BULLFINCH MINE

THE BOOM CONTINUES. By Cable—Press Association—Copyright Perth, October 25. The boom at the Bullfinch field continues. Several other new finds, the value of which is still unproved, are reported. An offer of £200,000 for the Bullfinch lease on behalf of a London sharebroker has been refused. The original tinder sold one-sixteenth share for £ 10,000. The Young Bullfinch Mine has been floated in Adelaide for .toUOflO, and other sales at high prices are reported. There is considerable excitement on the Tnter-State Stock Exchanges. Shares of the Bullfinch and adjoining fields are changing hands at big advances. RESULT OF AX ASSAY. FOUR HUNDRED OUNCES TO THE TON. PEGGED OFF FOR MILES. Received 25, 9.40 p.m. Perth, October 25.

Dirt from the winze at the bottom level of the Bullfinch mine assays up to 400 ounces to the ton. The country has been pegged from the Bullfinch to beyond the Southern Cross, over 30 miles. Values of properties outside the Bullfinch are still purely speculative, and only light prospecting work is doing. The Minister of Mines and other authorities have issued a warning against wild speculation until the field has been properly tried. EXCITEMENT ON STOCK EXCHANGE. Received 25, 9.40 p.m. Sydney, October 25. The Stock Exchange is wildly excited over the Bullfinch find. A new company was formed this morning to work the block adjoining the Bullfinch. Shares allotted at five shillings quickly rose to ten shillings. Later, the speculators cooled off, and they dropped to seven shillings. It is many years since there was such exictement.

"A PHENOMENAL FIND." Mr. J. W. Thomas, of Kalgoorlie, who has been on the West Australian goldfields almost since their discovery, and who possesses an expert knowledge of mining paid a visit to the Bullfinch group of leases a few weeks ago. He declares that a phenomenal ,find has been made. The leases are situated a little to the north of Southern Cross. The surface is low-lying hills of diorite. ironston'e and schist. The ore channel is of enormous width and length. being at least 500 ft ■wide, and can be traced over five miles in length. The formation is schist, with several large lories of ironstone and quartz running through it. These lodes outcrop in many places along the ore channel, which strikes north-west. The great size and length and the character of these lodes where work has been done without a single occurrence of shoots or lenticular bunches point to their continuing to carry values at great depth. The ore channel lies between a diorite country rock in contact parallel to a dip south-west from the intruded granite, which lies about 1000 ft, north-east of the Bullfinch workings. On the Bullfinch mine three shafts are in progress. Two of them have reached 100 ft, and are connected with a crosscut at that point. These shafts are 50ft apart, and sunk on two different lodes, which are separated by a band of schist. One of these lodes is 12ft wide and the other is 10ft wide, and at 100 ft their value is over Boz of gold per ton from wall to wall. No. 3 shaft is being sunk on the No. 1 lode, about 50ft from the No. 2 shaft, and it is down about 50ft. At this point the lode was crosscut through. It is 12ft wide, and has phenomenal values of at least 250z. of gold per ton from wall to wall. There are several other very much larger lodes, running through this ore channel, carrying payable values. Very little work has been done outside the Bullfinch mine.