• Home
  • Contact
The Lakewood Times

A New Gold Rush-177 Ounce Nugget Found

1/17/2013

0 Comments

 
Picture
A gold nugget with an estimated value of more than $300,000 has been unearthed near Ballarat in Victoria's western region in Australia. 

An amateur prospector found the nugget weighing 177 ounces, or 5.5 kilograms, with a metal detector just outside Ballarat in a popular area for prospecting.

The owner of The Mining Exchange Gold Shop in Ballarat, Cordell Kent, said the find was one of the most significant in his 20 years in the business.

"Over that period the sum total of my finds would be just over 100 ounces (2.8 kilograms)," he said.

"We have 800 prospectors on our books and only a couple of those have ever found a nugget over 100 ounces.

"So there's only been one or two big pieces and they were found a long time ago."

Mr Kent is seeking a buyer for the nugget on behalf of the lucky prospector, who wishes to remain anonymous.

Both expect the nugget to fetch more than $300,000.

Mr Kent said prospecting was becoming increasingly popular with gold valued at $1,600 per ounce.

"A lot of people think Victoria's goldfields are dead and that there's none left, but he (the prospector) has worked in an area where a lot of people have worked in the past but he persisted and he's been rewarded.

"We are 162 years into the gold rush and it's never totally waned, it's just changed."

The prospector is relatively new to the hobby and was totally overwhelmed when he brought it into the shop, Mr Kent said.

He would not reveal exactly where the nugget was found.
0 Comments



Leave a Reply.

    Tweets by @hhforsenate

    Archives

    October 2014
    June 2014
    May 2014
    April 2014
    March 2014
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012

    Categories

    All
    App Reviews
    Business
    Downtown
    Entertainment
    Ethics
    Jewish Life
    News
    Opinion
    Politics
    Senior View

    RSS Feed