Miners in Australia Discover Gold Worth Over $11 Million

Miners in Australia Discover Gold Worth Over $11 Million

Huge gold-encrusted rocks estimated to be with millions of dollars were discovered last week in a Western Australia mine - a find that experts are calling "rare and very exciting", BBC News reported.

One of the rock formations was found to contain more than 2,400 ounces of gold, according to the Canadian miner RNC Minerals.

Henry Dole, the miner credited with finding the gold, said "Never in my life have I seen anything like this".

Senior geologist Zaf Thanos told the Australian Broadcasting Corporation the find at Beta Hut was "a once-in-a-lifetime discovery".

RNC has been trying to sell the operation and the discovery of several large specimen stones will not hurt its cause.

The miner credited with discovering the gold describes it as the "mother lode", telling ABC he's never before seen anything like it: "I almost fell over looking at it".

RNC Minerals' find last weekend at the Beta Hunt gold mine, 50km south of Kalgoorlie-Boulder, made news across the country after it was made public yesterday.

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Previous bonanza grade specimen stone occurrences at Beta Hunt, says the company, were associated with the nickel-sulphide bearing contact between the Lunnon Basalt and the overlying Kambalda Komatiite, where RNC and previous operators have mostly mined nickel.

In the past week, the company has pulled out approximately 9,250 ounces of high-grade gold including a massive chunk of rock with an estimated gold content of 2,440 ounces. "These discoveries highlight the high-grade gold potential of Beta Hunt".

RNC said the alternatives continue to include a potential sale, but the company is no longer in exclusive discussions with a preferred bidder.

Dole, who has seen a number of mines in the area close in recent years said that he believes there's something bigger and better just beneath the surface. "But we bought it because there were a bunch of gold deposits sitting beneath it".

"I flip my phone on and find out", he said.

All of the of high-grade coarse gold was hand-picked and immediately sent from the Beta Hunt Mine to the Perth Mint in Australia, RNC Minerals said.

"Given the rarity of the rock, and the physical beauty and presentation of the gold that's there, it's a very spectacular stone in multiple ways so we'll see whether 20, 30 or even 50 per cent premiums apply here", he said.

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