Published: Thu, September 13, 2018
Finance | By Loren Pratt

In Australia found a unique gold nuggets

In Australia found a unique gold nuggets

But there is believed to be a lot more gold (in the area of $15 million) to still be delivered from these quartz pieces.

"Just 8 weeks earlier, at the end of June 2018, 1,500 ounces of high grade gold were recovered from other sediment structures on the 14 and 15 levels".

The largest gold nugget was discovered 500 meters below the surface in an area just three meters wide and three meters high.

For context, Selby said the average gold mine pulls in 1 gram of gold per tonne, which means they would have to move the equivalent of 300,000 tonnes of rock in order to pull out the same amount of gold that RNC found. RNC Minerals said it had extracted 2,200g per tonne.

"It was really a once-in-a-lifetime discovery", RNC President Mark Selby told CTV's Your Morning on Wednesday.

"It was unbelievable and I've never seen it before in my life".

More than 9,000 ounces, or $10 million worth of gold, were recovered in a four-day period.

Another 60kg specimen is estimated to contain 1600 ounces, or about $2.6 million in gold.

"This is the sort of find that you would associate with the 1860s Gold Rush and will probably cause a boom in exploration", he said.

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".

Henry, who has been in the profession for more than 16 years, says he has never seen anything like it.

The stones will be sold at auction as collectibles. "I almost fell over looking at it ... we were picking it up for hours".

An example of the bonanza-grade gold at the Beta Hunt Mine in Australia.

RNC principal asset is a 28% stake in a joint venture that owns the Dumont Project, which is located in the Abitibi mining region in Quebec.

An underground mine in WA's Goldfields has produced what is believed to be two of the biggest gold specimens in recorded history.

As a result of the find, security has been enhanced at the mine, with armed guards transporting the gold to a secure vault.

"We're going to look at all the alternatives in terms of whether we look to raise capital at the mine level, whether we look at spinning it out publicly, whether we look at joint venturing with another mining company, this allows all options to be on the table for us", he said.

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