"An' me too," groaned Nuggety. "I saw the gold, as I'm a livin' sinner, I did."

A glint of joy flashed into Bill's eyes at the words, and he struggled to his feet.

"Come down into the shaft, Mackay, and have a look for yourself," he said. "I do believe the curious stuff is so delicate it can't stand the light."

Still somewhat dubious about Emu Bill's professed honesty of purpose, Mackay was not slow to avail himself of the opportunity of judging for himself whether or not the new formation really did carry visible gold. Then, noting the truly distressed countenance of his old acquaintance, he relented.

"I believe ye did think ye saw gold, Emu," said he, before placing his foot in the sling preparatory to descending the shaft, "an' though I dinna expect to see any glittering bonanza down below here, I'm sort o' convinced you saw it right enough. It's the sun, Emu, my man; that's what it is."

Bill shook his head feebly; it was all beyond his comprehension.

"I'll come down after you, Mac," he said. "It's a mighty funny stuff, and you need to break it before it shows colour."

By this time every man in the camp was around the windlass; even Bob, with his bandaged head, had put in appearance, and Jack and the Shadow were also there. Quickly the windlass ran out, and deposited Mackay at the new level exposed, and while the rope went up again for Bill he lit a candle and peered cautiously around. He was looking for snakes, the bite of a certain variety of which induces strange hallucinations. Observing nothing in the shape he dreaded, he heaved a sigh of relief, and turned his attention to the soapy-like stratum from which Bill had broken his wonderful specimen. Only a dull grey muddy deposit was visible. With a jerk and a rattle the haulage rope came down again, and Emu Bill arrived at his side.

"I see nothing, Bill, my man," grunted Mackay.

Bill said not a word, but, taking his pick, smote furiously at the deceiving substance, and as it became disintegrated great gleaming streaks and sheets and scintillating points of gold seemed to show all over it.