Published: Thu, September 13, 2018
Business | By Eloise Houston

Two Large Gold Specimens Found In WA Mine

Two Large Gold Specimens Found In WA Mine

Australian miners often extract just 2g of gold per ton of rock - an expert said the gold particles are often too small to be seen by the naked eye - but, in this case, Canadian mining company RNC Minerals said 2,200g per ton was extracted, the BBC reports. Final ounces will be determined once the coarse gold is processed and/or sold over the next week which is expected to yield approximately CAN$15 million in cash.

The Beta Hunt Mine, located 600 km from Kambalda, is a deposit with a very rare feature of hosting both nickel and gold resources in adjacent discreet mineralized zones. "These discoveries highlight the high-grade gold potential of Beta Hunt".

Miners uncovered the fantastic specimens in the first week of September at the 45-year-old Beta Hunt, which is operated by Canadian company RNC Minerals, and located near the small town of Kambalda, 630km east of Perth.

Australia's Gold Fields have produced numerous world's largest gold nuggets, including the 72kg nugget Welcome Stranger, which was unearthed by prospectors John Deason and Richard Oates in Victoria in 1869 during the gold rush.

The second gold-encrusted rock is 63 kilograms and contains an estimated 1,620 ounces of gold.

According to the local news outlet, Kambalda miner Henry Dole is credited with hitting the "mother lode".

The company says that over the last week it has pulled out 9,250 ounces of gold, worth some $15 million, from a 130-tonne cut of rock about 500 metres underground at its Beta Hunt mine.

The gold includes 190kg of gold-veined quartz rock. The deposits are worth more than 11 million USA dollars.

"There's been a massive amount of interest, which is great because we always believed Beta Hunt had a massive amount of potential".

He said the real question, unanswerable without more information, is whether the gold comes from a vein that will quickly "pinch out or whether it stays wide".

"I truly believe there's something bigger and better down there", Dole told ABC News.

RNC began a sale process for its Beta Hunt mine in March before this latest discovery.

He said the company planned to auction off the largest pieces. "Obviously with this find going forward we won't have any shortage of capital to make that happen and we think we'll have a very long bright future to build a very big mine at Beta Hunt going forward".

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