The Chrysolite was built by Walter Reekie at St Monance in 1947 and came from a stable of well known fishing vessels built at that yard. She was 52 ft in length and grossed some 23 tons and registered LH 206. In the late 1960's she was whitby owned and working from Bridlington and had recently been the subject of a re-fit.
In June 1968, in thick fog, her skipper contacted his Bridlington office and it is believed that he radioed in his fish tally and intentions at that time. Shortly afterwards she ran aground on the North side of Filey Brigg and the crew took to the liferaft.
The Filey Lifeboat, amongst others launched to assist the crew but in the event, they were picked up by another local fishing boat otherwise unharmed by their sudden change in fortune. By the next morning, the boat was seen to be resting half sunken on one of the inner rock scars, and it was soon determined that it was not possible to salvage her. Shortly afterwards, the boat was broken up by the seas and her wreckage scattered.
Unlike the By Dand, the Chrysolite had hit the inner scars of the Brigg and knocked her bottom out, and like most other vessels that had suffered the same fate, was soon declared a total loss.