Ishpemino, Jlich., July 21.- The whole country here is wild with excitetnent over a wonderf ui gold discovery on the Lake Superior Iron company's land, seven rriies northwest of here. There was brought yesterday morning nearly 400 pounds of very fich gold-bearing quartz, which wasdislodged by one binst fired Thursday night at the bottom of a shuft which is now twenty-two feet deep. No assay of the rock bas yet been made, aud none is necessary, for gold is found in large nuggets and small grains. There is also much gold not visible to the naked eye. The value of the rock is variously estimated at from 25,000 to $'10,000, and at the lowest estímate the rock now at the Lake Superior office is worth 5,000. One specimen, weigbing two ounces, carries $10 worth of gold. The surprising richness of the rock can be estimated from the fact that from 8 to 10 per cent. of the entire mineral is gold, nearly twenty-four karat fine. Specimens were placed on exhibition at the Ishpeming National bank yesterday morning, and creted a gr at sensation. The specimens were ater taken to the Lake Superior office, -wbere bey are now locked in the vaults. Hundreds f people visited the mine during the day, ut only a few were able to get into the haft. The gold lead was first discovered on thia roperty tbree years ago, when a small pockit of rich sugar quartz, worth about $3,000 to the ton, was found. Nothing was done hen, as the Lake Superior company, which owned the land, would neither lease nor sell jast summer a small test shaft was sunk eighteen feet, and at the bottom another "blossom" of rich quartz was struck. This ■was worth at the rate of $14,000 per ton, but there were only flfteen or twenty pounds of it. After th&t an ineffectual attempt was made by Detroit parties to secure the property, and work was stopped untü six weeks ago, when the Superior company, which had lts office at Boston, gave orders to go ahead and make a mine of the property. Work was then resumed, and the original size of the shaff was enlarged to 10 by 14 for loist'-'t? and pumping machinery, and severa] -uall bodies of rich rock were struck, but not in any quautity until tliis rich fiud. Although tliere have been numerous finds of rich rock, all heretofore have been small in quantity, and have merely been promises of what might follow. ïlie Rofes gold rnine las been working five years on low--;rade rock, witu occasional rich pockets containing a few bundred pounds of quartz, wortu a lew hundred, or perhaps, tf],(KX) a ton. Yesterday's discovery is the first ever rnade of a large amotmt of gold in one place. Adoining the Lake Superior shaft on the east ;he Miuhigan Mine Gold company has eighty acres of land, and some very rich rock bas boen taken from this propsrty. The title to the Michigan mine is uow involved in litigation and work suspended, and can not be resumed until the court renders a decisión. ïhe M;chigan Gold company, of Cleveland, Onio; George Frummatt, of Marquette, and J. C. Foley, of Hancock, are three claiuiants to the property. To the west of tha Lake Superior shaft no explorations have been made, but already several options have been secured. Dirt will soon fly at a rapid rate on a dozan prospects near the Lake Superior and Michigan mines. Numbers of prospectors will begin work today, and many applications for options on lands supposed to ba in the gold belt are being cor.su!' rad by land companies and private ownere As many miners as can be emploj ed will be put to work by the Lake Superior company, and operaüous will be pushed.