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The golden nugget gold nugget12/27/2023 ![]() ![]() And he’s hoping the one he found this week is a small piece and that there are bigger ones still out there.” There are only four people who know that he found it – he and his wife and me and my wife. “He doesn’t want anyone to know his bit of ground. Kent says the lucky prospector is back at work, “detecting right as we speak.” A nice, small nugget would already sell for 10% to 15% above its weight in gold.” “My guess is that it would sell at 20% or 30% above its weight in gold. Shmith expects collectors may already be eyeing a potential purchase of the Ballarat nugget because of its rarity. In Australia, the machine retails for nearly $7,000, according to Gary Shmith, Minelab’s General Manager for the Asia Pacific. ![]() “In the old days miners could only see or feel gold - but now with detectors they can hear it.”Ī Minelab GPX Model 5000 metal detector was used to find the nugget, Kent says. “In the last 10 years it’s gotten very, very hard to find nuggets over a kilo, so this (5.5 kilogram) one is extremely rare,” says Kent. The 47-year resident of Ballarat says that gold has been continuously found in the region since 1851, but technology has recently become an essential aid for modern prospectors. on Wednesday and had a grin from ear to ear,” Cordell Kent, owner of The Mining Exchange Gold Shop, told CNN. The man, described as an amateur explorer who wants to remain anonymous, unearthed a 5.5 kilogram golden nugget 60 centimeters in the ground outside Ballarat, a city about an hour and a half drive west of Melbourne.Įxperts say the value of the find is at least $300,000. One Australian gold prospector has hit pay dirt. Gold first found around city of Ballarat in 1851 Amateur Australian prospector unearths 5.5 kilogram golden nuggetĮxperts say value of gold nugget at least $300,000 ![]()
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