THE LYELL.

Westport Times, Volume VII, Issue 1107, 16 September 1873, Page 2

THE LYELL.

[FROM A CORRESPONDENT.] On the 10th iust another trial crushing of quartz from the Lyell took place at the Bankof New Zealand, Westport. The stone was taken from the Maruia Company's big paddock and was considered by about a dozen persons present as fair a sample as could be of the averaging value of the whole, estimated at about 130 to 140 tons. This quantity now awaiting the completion of Messrs Carroll and Cairns' mill to make room for another lot. Before crushing only three fine specks of gold could be detected outside the stoue which was all in one lump. The memorandum showing result of crushing as given by the Bank is as follows , —" Sixty-eight ounces six dwts of quartz crushed at the Bank of New Zealand, said to be from the Maruia Gold Mining Company, Lyell, realized 16 grains of melted gold. (Signed) A. D. Bayfeild." The result is highly satisfactory, as it shows a return of over 15 ounces per ton. Even if the stone should only give half of this rate it would be still highly remunerative. Mr Theo. Mabille, one of the shareholders, informs us that the cost of extraction and crushing will hardly exceed £4 per ton, leaving a handsome profit. Where the men are working at the lower level they average about one ton of quartz for each set of 4 feet 6 inches, which is the work of two men in an 8 hour's shift. The Maruia ieader is perhaps not so rich as the Monte Christo leader, but it is more regular, and the gold is distributed evenly all througb the quartz, while in the Monte Christo the gold is said to be more patchy, and presents the same character as the Little Wonder leader, which is supposed to be one and the same. The Maruia and Monte Christo claims adjoin one anothe-, and it is almost certain that the Monte Christo and Maruia leaders run through both claims, which are only distant from each other only by 150 or 160 feet. The Maruia Company's leader is the same as the one worked in the Break-o'-Day, and at the present time the men are engaged in blocking out along the boundary line, where the distance which separates the Monte Christo working; from the Maruia workings is more than 1500 feet. Mr R Carne, of Westport, is now engaged making the brake and other necessary iron work-for the drum and inclined tramway of the Maruia Company to let down the quartz to the machine, and this and the wire rope to be used to let down the trucks will be forwarded by the boats on Monday next.

Taking everything into consideration it speaks volumes for the confidence and energy displayed by the Maruia Company which has never required to be put under the " Limited Liability Act," seeing that since the shareholders started operations, about six months ago, they have carried on without the assistance of any other capital but their own. Close upon £9UO has now been spent and p;iid on account of this claim, and it is-confidently expected that the first dividend will cover not only that outlay but will leave a nice margin available for profit.

This claim is one of the most valuable on the Alpine Range and that the shares are held in high estimation is proved by the fact that the sum of £550 was refused no later than three days ago for a full share. The claim is about 10 acres in extent, and divided into 14 full shares. Great credit for conducting the operations on the claim are due to Mr Thos. Blair, the manager of the works.