In our advertising columns will be found the prospectus of the Chester and Locke's Golden Secret Gold Mining Company (N.L.), situated at Yarra Track, in the Upper Yarra district. The capital is .-£3000 in 32,000 shares of 51 each. For the mine and machinery the vendors are to receive 9000 fully-paid up shaves and .£1500, in cash, while 23,000 ' are being offered to the public at 1/6 on application and 1/6 on allotment. The whole of the proceeds, less the cash to the vendors and the usual flotation expenses, will be put to the credit of the company. The lease comprises 29 and a half acres between . Marysville and Wood's Point, and the original holders have had several excellent yields. Since May, 1898, they have crushed 176 tons for a yield of 558oz. gold. It is proposed to sink a new main shaft to a depth of 200ft., and then cut W. for the reef, which underlies E., and was apparently widening as it was followed down. There is abundance of water close at hand for the battery, and firewood and timber - are . likewise convenient and plentiful. The machinery comprises an 8 h.p, portable engine rind a 5-head battery. Mr. W. P. Jones, 377 Collins-street, Melbourne, is the legal manager of the company. " Full particulars will be seen in the advertisement.
CHESTER AND LOCKE'S, YARRA TRACK. These prospectors have shown their confidence in this claim by undertaking, single-handed, the sinking of a main shaft from the surface. There is not a better shaft in the ranges; it contains three compartments, and the prospectors split the timber themselves. At a depth-of 140ft. they opened out, and in another 40ft. "they 'should strike the reef, which carried good gold for a great length going down underfoot from the upper workings. This claim is an object lesson of independent enterprise directed judiciously too, a wise end, and is also another indication given in the ranges of how many practical men are forced to regard the market as a means of disposal and opening up of their properties.-STANDARD.
YARRA TRACK. THE GOLDEN SECRET. Mr. WV. P. Jones, the legal manager pro. tem of Chester and Locke's Golden Secret, informs the Woods Point STARDARD that out. of the 23,000 shares issued, the majority are subscribed," and it is intended to register forthwith. Chester and Locke's comprises 30 acres, the crushings from the reef having given 588, oz. from 176 tons, and the plant on. the ground is valued at £1200. The claim:is the-parent of a group -of flourishing prospecting mines on the same line, and the adjoining two blocks, Kirwan. and -Shehan's and .Riley, and :.Barton's, are under offer.to Mr. Jones on behalf of a Melbourne syndicate. Both these claims are on gold, Riley and Barton's' having crushed 1½-oz. per ton. -Adjoining the latter is the Syndicate'.s claim, the reef having been proved payable, 21 tons giving 29 oz., and a crushing of 16 tons is now going through, In fact the reef is quite unique, gold having been proved along its line for a distance of four miles consistently. It may be stated that prior to placing the claim on the market, Chester and Locke were offered £3000 in cash for it. The shares are being well applied for by prominent speculators in Woods Point. It is understood that the management of the mine is to be taken by Mr. W. G. Jamieson, of Woods Point, who, no doubt, would he the right man in the right place. Of the future work at the mine, it would he premature to speak, but we may say that at the lowest level, the reef is strongly defined, and carrying good gold underfoot, and a lower tunnel will probably he put in. The importance of the mine will probably justify sinking later on.
CHESTERVILLE. [From our own Correspondent.] February 1. Messrs. Chester and Locke will wash up about Thursday or Friday next. They will then have put through 70 tons more or less. The yield promises to be pretty good, from a rough clean up they had when stopped for a day or two owing to the rain making their road to the battery very boggy. The reef on the Yarra Track Syndicate lease is opening up well, and promises to rival the Golden Secret. They have sixty seven tons at grass, got in a few days work, and arrangements have been made with Messrs. Chester and Locke for the use of their battery when their own stuff is finished. There is a grand opening for energetic prospectors in this locality, but it does not want " feather-bed" men to tackle it. The fact of such reefs as the Golden Secret, Golden Bower, and Yarra Track Syndicate on one line of country, the Stockmans and other dykes on the Big River, ought to he proof of the value of this part as a gold producing locality. The Stockmans Reward are said to have had a return of 3oz. per ton, and they have a good many men employed. In your last issue I see you have taken up the cudgels manfully for an increased mail service to this favoured locality. . The residents have not been idle in this respect. A petition was sent some time ago and a lot of correspondence took place. The postmistress at Marysville was, 1 hear, instructed to keep tally of letters, etc., that came here, but as the Postal Department is too slow for a funeral, the matter seems to have been quietly sent to "bye-bye," and owing to official neglect a lot of men who are spending their time and money in opening up a coming goldfield, are put to enormous inconvenience.
'A report from. Wood's Point stated: Rich gold is toeing taken out of Chester and Locke's find, and at is said that the granite is almost hanging together with gold. The reef has been traced for a distance of nearly 600 ft. In the Golden Bower, situated in .Donovan's Creek, gold has been struck in the upper level. The reef averages 100 in wide, and gold can be seen in the stone. It is estimated to go several ounces per ton. Prospecting is being generally directed to this district, and there is an area of only partially-prospected country stretching from near Marysville to the Springs, and extending over the Big River and its tributaries to Enoch's Point, a distance of 20 miles. Gold has ¡been proved to exist over the whole of the area, but it is only recently that a proper attempt has been made to prospect and develop it.