When asked to lecture at Bendigo on the geological factors that determine the depths of ore deposits, I hesitated for a little before agreeing to lecture on the theory of deep ores in the city world famous as the pioneer of deep gold mining. If there be one place, wherein the conditions of deep-seated ore deposits should be sufficiently well understood, it is the city where the 180 mine made its bold plunge to previously neglected depths; and where the record of that famous mine has been broken by the skill of the managers, and the pluck of the proprietors, of the New Chum Railway and Lazarus mines.In the face of such practical triumphs, theoretical discussion may seem a waste of time, especially since it is often dedared that the existence of such deep-seated ores was denied by geological theory. This assertion is, however, startling since the oldest and best supported geoiogical theory of ore deposits, has taught for more than a century tliat ores must descend far below the regions of practical mining. This charge against Victorian geologists is generally based on opinions attributed to the late Sir Fredrick McCoy. It has been repeatedly affirmed that he declared that gold cannot occur pelow a depth of 300 feet. But so far I have not been able to discover that McCoy ever made any such assertion or ever held such a view.