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« Trump Screams: "We're Just Printing Money!" (CNBC) | Main | Sheila Bair: "Banks Still Have Too Much Leverage!" »
Friday
Jan182013

WATCH: Australian Man Finds 11-Pound Gold Nugget With Metal Detector

'Mate, I found a good one.'

The massive nug was found about 2 feet below the surface of the ground. 

Australian news report.  An anonymous amateur prospector in southern Australia has unearthed a huge piece of gold, reportedly worth more than $300,000.  The man found the 55kg nugget near Ballarat, Victoria. The prospector passed the gold on to a mining exchange in Ballarat, reportedly saying, 'Mate, I found a good one.'

If sold at market value it would be worth just shy of $300,000, but its extreme rarity would mean it be worth far more, according to Mr Kent.  "If you are silly enough to melt it down, it would be worth just under $300,000 on market value but as a nugget at this size and shape, it's worth significantly more than that," he said.

The man was using a state-of-the-art metal detector, which meant he was able to find the gold relatively deep underground in an area which had been searched many times in the past.  The man had only made small finds before, he said, but was a "person that really deserved it".

"A finding like this gives people hope. It's my dream to find something like that, and I've been prospecting for more than two decades," the Ballarat Courier quoted him as saying.

"I've got no doubt there will be a lot of people who will be very enthusiastic about the goldfields again, it gives people hope," said Mr Kent.

"There's nothing like digging up money, it's good fun."

Here's a map for any would-be prospectors.

View Detailed And Larger Map

---

Raw Video.

The massive nug was found about 2 feet below the surface of the ground. 

All text below is from the Youtube page.

This 177 troy ounce gold nugget (5,505 grams - 5.5kgs) was found by a prospector with a hand held metal detector near Ballarat, Victoria, Australia on January 16, 2013.

What a find!!! It was found at a depth of a little over 60 cm (2 ft) with a modern detector with a small coil. The prospector said it sounded like the bonnet of a car through the head phones. It was lying flat (broad side up) and he carefully dug it up. In this video it hasn't been cleaned. It is approximately 220mm long, 140mm wide and has a maximum depth of 45mm.

Ok, this nugget was found with a Minelab GPX5000 super metal detector, with an Advantage Plus 'Sadie' mono eliptical coil, and a Rooster Booster audio enhancer (used with an external speaker).The prospector said he heard the signal, kicked off about 100mm (4 inches) of leaf mulch from the surface, and thought the ground looked in original condition ie it hadn't been dug previously.

It was lying flat in the ground, and was over 60cm (2 feet) deep in the earth/clay/gravels. So this means he and his detector heard it at an incredible depth from the search coil (the disc that is at the end of the hand held detector).

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Reader Comments (7)

And guess what mate? This Annon guy also has the concession for metal detectors in that part of Aussie-land. Now that could be worth a lot more than a nugget, wouldn't you say?
Jan 18, 2013 at 1:38 PM | Unregistered Commenteralan
Very interesting Alan. Got a link?
Jan 18, 2013 at 2:35 PM | Registered CommenterDailyBail
UN clinches mercury deal...

http://www.reuters.com/article/2013/01/19/us-mercury-idUSBRE90I06020130119

Most countries that use mercury are 3rd world countries that mine GOLD.

Mercury is a heavy element that is easily scrubbed from emissions and furthermore you may want to read this:

http://www.hydroquebec.com/sustainable-development/documentation/pdf/mercure/mercure1.pdf


While mercury is a very toxic element, the poor are forced to use all measures available to survive and THAT is part and parcel the responsibility of the self proclaimed 'financial kings of world' whose subjects live on less than $4.00 a day if they are lucky.

The timing of this press release, like all the other recent events is bullshit.
Jan 19, 2013 at 4:15 PM | Unregistered Commenterjohn
Furthermore...

http://www.thejakartapost.com/news/2009/01/12/mercury-gold-mining-a-third-world-toxic-threat.html

and I bet no one saw the NBC program of how human beings are being bet on (especially in India by a firm in the UK) regarding carbon credits/derivatives. Ironically, while it aired as a 'one time special', it was never available on the internet.
Jan 19, 2013 at 5:26 PM | Unregistered Commenterjohn
I bet no one saw the NBC program of how human beings are being bet on (especially in India by a firm in the UK) regarding carbon credits/derivatives.

---

Gotta link?
Jan 23, 2013 at 2:03 AM | Registered CommenterDailyBail
Really nice recovery. Everyone want to get such a huge fortune, that is way more and more people begin gold hunting or metal detecting.
Aug 27, 2013 at 11:04 PM | Unregistered CommenterDarbyGloss
Woh!!!! that's a hell of a find...a once in a lifetime job. Not that far below ground either. After many years an MDer I've yet to have a find remotely approaching this!
Mar 24, 2014 at 4:34 PM | Unregistered CommenterColin Brunt

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