Gold returns in 1876 indicate a serious falling off in the yield of our gold mines, from whatever cause or causes it may have arisen.
“No doubt it may to a very great extent be traced to the effects of the long drought which in some localities seriously retarded, and in others put a stop to gold-mining…
“A false opinion that prevailed amongst some of our gold miners that our reefs would not carry gold below certain depths has had the effect of deterring many from deep sinking.
“Except in a very few localities, our quartz veins have not been tested below two or three hundred feet, and in some places to a depth of only a few feet.
“It is hoped that the recent explorations at that depth undertaken in a bid to secure the Government reward for the discovery of payable quartz at a depth of greater than 800 feet will be effective.
“Two companies at Adelong are reported to have reached the required depth, but one of them, owing perhaps to a fault in the vein has not yet found gold. The other, The Great Victoria Company has claimed the reward.”