Domestic Travel

Huge gold nugget found in mystery Aussie location

Huge gold nugget found in mystery Aussie location

A gold prospector has unearthed a gold nugget worth over $4,000 less than a metre underground.

The prospector, identified as Bill M, took to the Facebook group Detecting Downunder to share a glimpse of the 50.8g piece.

The nugget was found on a private property in the Victorian gold rush city Ballarat last week, the prospector said.

Source: Facebook / Detecting Downunder

“This is straight from a main gold reef,” a related post read.

“It was found about 2 feet (60 centimetres) down.”

Based on the current gold price of about $81.5 per gram, the nugget is estimated to be worth around $4,140.

The finding came a year after a Victorian retiree found a two-kilogram gold nugget worth about $130,000 on the outskirts of Ballarat. In the same year, a family also spotted a 634g nugget worth more than $35,000 while walking their dog on Mother’s Day in Bendigo.

It is believed more than 2.26 million tonnes of gold remains underground in regional Victoria, the ABC reported.