A local gold prospector found a nugget weighing just over five kilograms (equivalent to 177 ounces) on a Wednesday morning and quickly delivered it to the Ballarat Mining Exchange Gold Shop.
The lucky prospector who discovered the massive gold nugget remains unnamed and the exact location of the find is being kept hush-hush. According to Cordell Kent, who owns a gold shop, the nugget was unearthed within a 30-kilometre radius of Ballarat CBD. This valuable treasure was found just 60 centimetres below the earth’s surface by the prospector using a high-end metal detector, the Minelab GPX-5000, which costs over $6000. Even though its market value is close to $300,000, its rarity makes it worth much more, as explained by Mr. Kent. He emphasized that if someone were to melt it down, its value would diminish to nearly $300,000, but as a intact nugget of this size and shape, it holds far greater worth. Mr. Kent also mentioned that such a large nugget has not been discovered in the local area in recent memory.
Mr. Kent mentioned that the prospector had come across some small gold pieces in the past, but none of them had fetched more than $1000 in value.
“Yesterday, he came across the tiniest nugget he’s ever found, only a quarter of an ounce,” he shared. “Discoveries like this really inspire others. I’ve been searching for treasures like this for over twenty years now.
“We’re in the thick of a gold rush, and the possibilities in front of us are endless. The excitement is beyond belief.”
The nugget is likely to be sold to a collector or even end up in a museum.
Mr. Kent expressed his wish to sell the item within Australia, noting that its size would require special permission for exportation abroad. He also anticipated a new surge in gold mining activity in the Ballarat area.
“I believe many will be excited about the goldfields once more, bringing hope to people,” Mr. Kent remarked. “There’s a unique thrill in discovering riches buried beneath the ground; it’s a great adventure.”
Big shoutout to Cordell Kent for giving us the green light to use his photo! We’re all about sharing our love for gold exploration and the adventures of gold prospecting all around the world, and Cordell Kent’s image helps bring that to life. We’re also tipping our hats to ‘The Mining Exchange Gold Shop, Ballarat, Australia’ for being a part of this amazing journey. Even though this gold nugget was unearthed years ago, our gratitude for both Cordell Kent and the shop remains strong!
