A mᴀssive 5.5kg gold nugget, which could be worth upwards of half a million dollars, has been unearthed in Ballarat, Australia.

The nugget, weighing slightly more than five kilograms (177 ounces), was discovered by a local prospector on Wednesday morning, who rushed it to the Ballarat Mining Exchange Gold Shop.

The exact location and the idenтιтy of the lucky prospector remain secret, but gold shop owner Cordell Kent said the nugget was found within 30 kilometres of the Ballarat CBD.

It was found about 60 centimetres below the surface, with the prospector using a state-of-the-art detector worth more than $6000 – a Minelab GPX-5000.

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.

“I can’t remember a nugget this big ever being found locally.”

Mr Kent said the prospector had found small pieces of gold before, none of which had been worth more than $1000.

“Up until yesterday the smallest nugget he had found was a small one, about a quarter of an ounce,” he said.

“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.

“We’re so far into a gold rush and we have years and years and years of hope ahead of us. It’s unbelievable.”

It is expected the nugget will be sold to a collector or possibly a museum.

Mr Kent said he hoped to sell it within Australian  as given its size, there would need to be special permission granted for it to be exported overseas.

He also predicted there would be a fresh gold rush hit the Ballarat region.

“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,” Mr Kent said.

“There’s nothing like digging up money, it’s good fun.”

 

We would like to express our heartfelt graтιтude to Cordell Kent, the person in the picture, for granting us permission to use his image. The reason is quite evident, as the stories we write aim to showcase our pᴀssion for exploring gold and the journey of gold prospecting worldwide. Once again, we extend our sincere thanks to Cordell Kent, the individual in the image, and ‘The Mining Exchange Gold Shop, Ballarat, Australia,’ for sharing this significant event with us. Although this gold nugget was discovered a decade ago, we continue to hold a deep appreciation and special respect for both the store and Cordell Kent!

Related Posts

Mummy of Ramesses I

The mummy of Ramesses I had been stolen from the Royal Cachette in Deir el-Bahari (TT320) by the Abu-Rᴀssul family of grave robbers and sold by Turkish…

What Did Tollund Man, One of Europe’s Famed Bog Bodies, Eat Before He Died?

The enigmatic, 2,400-year-old mummy’s last meal consisted of porridge and fish Tollund Man was likely the victim of a human sacrifice. Public domain via Wikimedia Commons Many questions…

The Bronze Head of Medusa: A Marvel of Roman Art

The Bronze Head of Medusa, found at Hadrian’s Villa near Tivoli, Italy, stands out as a notable Roman artifact. This piece, deeply rooted in Greek mythology, offers…

Journal of Celtic Studies in Eastern Europe and Asia-Minor

      The practice of suttee (Sati) – the ritual sacrifice, willingly or otherwise, of a man’s wife upon his death – is well testified to…

What was the tradition of childbirth like in Cañada, Oaxaca more than half a century ago?

In a text by Eréndira Sánchez Cruz, an oral tradition from the mid-twentieth century was revealed about what childbirth was like in the Cañada area of Oaxaca…

Then vs Now : Interior Entrance of the Great Temple of Abu Simbel, Egypt

The Great Temple is located in the village of Abu Simbel, Aswan Governorate, Upper Egypt, near the border with Sudan. Temple took about twenty years to build,…