LYELL LATEST NEWS.

Westport Times, Volume VIII, Issue 1151, 17 February 1874, Page 2

LYELL LATEST NEWS.

(from our own correspondent.) Blair and O'Brien have just completed crushing about 20 tons of quartz obtained from their claim, the result, a3 far as known, is satisfactory, about 2ozs per ton. Little Wonder, have also crushed 50 tons of mullock and debris, which had been stored up when obtaining the rich stone which was crushed a short time ago, the result of which has not been made public. Since their paddock has been emptied out they have been busy getting out stone from the lower level, and it is satisfactory to say that the stone thus obtained is equal to that obtained months ago. The Little "Wonder battery commenced to crush for the Break-o'-Day yesterday morning, Friday. This company is expected to get through 150 tons in one lot, after which the Maruia Company will crush 200 tons. Oriental. —Have started driving a tunnel in the centre of their claim, to strike the Little Wonder leader, which has been traced about 50 feet in their western boundary.

Ltell Creek.—Continuing driving north and south on the new leader, which improves in thickness and quality in the direction of the Monte Christo lease.

Monte Chbisto.—Still continuing to drive westward the new tunnel at the northern end. If nothing else is struck before they meet the Oriental claim boundary, they will open north and south on the last leader struck one week ago, as it is considered to be well payable. Two men are employed by this company trenching on a mass of leaders which run at a 50 feet lower level than the main tunnel. These leaders are supposed to be the continuation of the recently discovered leader in the Maruia lease.

A meeting of directors is fixed for Monday next, when it will be a pail r>f (-Vir>ir l-m=jinAsc) tn declare a dividend on the last crushing.

Shares in this company arc in great favor, and have lately obtained a considerable rise in value.

Central.—Shares in this company are held in great favor and are still rising. Sellers holding at four shillings per share; equal to £2OO for original one-tenth share.

A special meeting of the shareholders, for adopting rules, &c, is called, to take place at Lyell, to-night, Saturdav.

Break-o'-Day.— Twenty-four men are now employed on this claim. Great activity prevails. The stone obtained from the old leader continues as good as first obtained. Shares in this claim are rising in price fast, and many of the shareholders expect shares will be £2 each in another three weeks.

Martha—Continue filling up the paddock with uncommonly good stone, obtained in driving towards the Monte Christo lease.

Maloney's.—ln this claim a second lot of quartz is being steadily got out, which is supposed will yield a better result than the last crushed. New Creek.—Last week another party struck payable stone south of the prospecting area applied for, and in the direction of the Eight Mile. South of the prospecting area the leader now shows a thickness of one foot. Another party is now prospecting the reef about six feet wide, running in a parallel direction, but situated more easterly than the one worked upon in the prospecting area. We have not heard whether the third party has yet struck any gold. At the Lyell township the water race for town purposes is being fast completed, all the cutting being nearly finished. Mr Louis Dupont has commenced the fluining part. The contract for conveying Messrs Carrol and Cairns' new machinery from the Lyell landing to Zalatown has been taken for £7O, and it is expected that before another month the machinery will be at work.

The clearing for the telegraph lino from Rcefton to the Lyell is now completed, and most of the posts and the •wire are in position, so that, should the office be prepared in readiness, it will not be three weeks before the Lyell residents will be placed in hourly communication with the outward world.