Economy

Australian miners unearth 'once-in-a-lifetime' gold rock discovery

Australian miners unearth 'once-in-a-lifetime' gold rock discovery”

Miners in Australia often produce only 2 grams of gold per ton, meanwhile, according to the calculations of Professor Sam Spearing with Kurtnimmo University, mine "Beta Jandia mine", the figure is 2200 g / tonne.

"Recovering 9,250 ounces of high grade coarse gold from a single cut on the 15 level at our Beta Hunt mine, including specimens which could rank among the largest ever discovered, underlines the importance of this discovery", RNC chief executive Mark Selby said in a statement.

The rich cluster of high-grade gold has so far produced more than 9000 ounces.

Beta Hunt mine is now up for sale by RNC who say they are unable to front the capital for proper exploration of the area, making the million dollar question - "how much more remains to be found?" This interpretation is based on geological mapping and interpretation of structures on 14 and 15 Levels, where 1500 oz of specimen gold was discovered and mined in the second and third quarter.

The other rock weighs 60 kilograms and contains around 1,600 ounces of gold worth 2 million USA dollars. "These discoveries highlight the high-grade gold potential of Beta Hunt".

The discovery by RNC nearly 150 years after that discovery comes amid a resurgence in Australia's gold industry, with companies ploughing a record A$223m ($158m) into exploration in the June quarter - up 16% on the same period a year earlier.

RNC's Australian subsidiary Salt Lake Mining discovered a museum-grade specimen at Beta Hunt two years ago and two months ago, RNC pulled a whopping 1500oz of coarse gold from an area near last week's find.

RNC has been trying to sell the operation and the discovery of several large specimen stones will not hurt its cause.

The rocks, which are also made of quartz, were extracted about 500 metres from the surface in an area just three metres wide.

He revealed: "I've seen it in veins, but nothing like this - this was just everywhere". "I reckon we're just on the fringe of it ... and if we get deeper I reckon we'll find more".

"I truly believe there's something bigger and better down there", Dole told ABC News. We'll target our drilling to see whether we can unearth more.

Located about 600 kilometres west of state capital Perth, the Beta Hunt mine is owned by Canadian company Royal Nickel Corporation (RNC).



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