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Terence Bell

177 Troy Oz. Gold Nugget Discovered by Australian Prospector

By January 20, 2013

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For those of us who thought that modern gold prospecting required drill holes, assay analyses and millions of dollars of investment, an amateur Australian prospector has proven otherwise.

Media stories from the past week have been telling the Gold Nuggetstory of a prospector who unearthed a 177 troy ounce (5.5kg) gold nugget using just a metal detector.

Found near the town of Ballarat in the state of Victoria, which can expect an influx of hopeful prospectors, the Y-shaped ingot reportedly measures 8.6 inches (22cm) long and 5.5 (14cm) wide.

The region has been referred to as Australia's "Golden Triangle", following a gold rush in the area during the 1850s. The "Hand of Faith", a 874 troy ounces (27.21kg) nugget that is now on display at the Golden Nugget Casino in Las Vegas, was also recovered from this region in 1980.

Although the current market value of the gold is about about US$ 300,000, as a natural specimen, it will likely sell for much more to a collector or museum.

Image Source: Youtube screencap (Uploaded by: TroyAurum)

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