Aussie gold mine produces rare find worth over 10 million US dollars

Two Large Gold Specimens Found In WA Mine

A handful of gold rocks could be worth several thousand dollars, so security has been beefed up in the days since the find.

The largest specimen weighs in at 90kg and took three men to lift it onto the back of a ute.

Since last weekend, RNC Minerals has seen a massive haul of single cut of rock blasted about 500m underground at the Beta Hunt gold mine near Kambalda, 600km east of Perth. "When you look at nuggets, which are a solid piece of gold, the biggest are around 2,000 ounces, so this is right up there in terms of the largest specimens we've ever seen".

RNC is the first owner of the Beta Hunt mine to focus on drilling deeper in the Lunnon Basalt in its search for gold.

"It was a nickel mine for years and years", said Mark Selby, chief executive of RNC.

Following this significant discovery, RNC has made a decision to consider a sale, to maximise the value of Beta Hunt for RNC shareholders.

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


Canadian mining company RNC Minerals discovered the unusual quartz rocks worth over $11 million more than 1,600 feet below the surface in a mine in the Goldfields-Esperance region near the small town of Kambalda in the past week, the BBC reported.

The high-grade gold (coarse gold and large gold-containing specimen stones) comprises approximately 190 kg of specimen stone, of which the largest is 95 kg with an estimated gold content of 2440 oz and a second large specimen stone of 63 kg with an estimated gold content of 1620 oz.

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". "This sort of bonanza is incredibly unique". "I almost fell over looking at it ... we were picking it up for hours", he said.

Despite the discoveries, however, RNC Minerals still intends to sell the mine, which is typically used to generate nickel for the steel industry.

The Beta Hunt Mine has been up for sale since March.

"I'm really lucky to be seeing this - it's a rarity", he said.

"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.

Related News:



Most liked

Fortnite Update 5.40 Encourages Quiet Take Downs and Fixes Bugs
If a Fortnite-themed Monopoly wasn't enough for you, Hasbro has another trick up its sleeve in the form of Fortnite Nerf Blasters. It's also unknown exactly how long the game could be offline for whilst Epic release this emergency patch to the game.

Brickyard 400 postponed to Monday
In the NASCAR Cup Series, the race serves as the final event before the playoffs start September 16 at Las Vegas Motor Speedway. Practice runs and qualifying were canceled because of the rain while the NASCAR Xfinity Series race was also moved to Monday.

Hurricane Florence Shifts Course, Will Make a 'Grand Tour' of Southeastern States
The storm's maximum sustained winds were clocked at 193km/h, before Florence was downgraded from a Category 4. He said: "We are ready but this is going to be one of the biggest ones to ever hit our country".

Hungary's Orban vows to defy European Parliament over rights
Hungarian officials were quick to condemn the vote. 'Orban is a hero and deserves the Nobel Prize, ' he said. Voting 448 in favour, 197 against and 48 abstentions, the motion passed in the Strasbourg plenary session.

Monkeypox: Nigerian health chiefs step in to help UK manage outbreak risk
The patient is being treated at the Royal Free Hospital in London and was previously staying on a naval base in Cornwall . Initial symptoms can include fever, headache, loss of appetite, muscle aches and swollen lymph nodes , Schaffner said.

Call of Duty: Black Ops 4's battle royale mode Blackout available now
According to expert Call of Duty YouTube broadcaster Drift0r, the Blackout map should fall somewhere between 4.5km2 and 7.4km2. If you're interested in the health information up there, another section on the blowout feature went into detail on that.

Apple iPhone XS, iPhone XS Plus and iPhone XC Prices Leaked
Leaks are pouring in from all the corners on the 2018 iPhone models that will probably launch within next couple of days. Estimates suggest this device would be more affordable than its brethren, with a price closer to $550 or $650.

Minutes Jeff Fager leaving CBS after reports of inappropriate behavior
CBS continues to clean house, with Jeff Fager following in the footsteps of both Les Moonves and Charlie Rose. However, he violated company policy and it is our commitment to uphold those policies at every level.

New Apple Watch receives FDA clearance for built-in ECG
The microphone has been moved over to the other side to avoid conflicting when speaking to the Watch or taking a phone call. The Series 4 Nike + watches cost $399 with Global Positioning System , $499 with Global Positioning System and cellular.

Apple To Live Stream Its September 12 iPhone Launch Event
The Apple iPhone XS and Apple Watch Series 4 will be unveiled during a special event at Apple's spaceship campus on September 12 . Expect more info about Apple's 2018 iPhones and more to come on September 12 .

Truett McConnell University cuts ties with Nike after Colin Kaepernick ad
Today the former NFL player revealed he too would kneel with the current players if he were now in the league. Kaepernick was the first player to kneel in protest of police brutality and racial inequality.

Ariana Grande Isn't To Blame For Mac Miller's Death, His Friend Says
On Saturday , the No Tears Left To Cry singer paid tribute to the MC with a touching, caption-less post on Instagram . Because whether he was an addict of not, the way that Mac partied was not healthy. "I wasn't surprised.

Keselowski makes it Penske sweep at Indy
Denny Hamlin wound up third. "Left-front brake rotor exploded and went through the hood", the Furniture Row Racing driver said. After weeks of speculation, Chip Ganassi has confirmed that Jamie McMurray will not be in the No. 1 Chevrolet next season.

Liberia President Weah makes surprise return against Nigeria
At the grand old age of 51, George Weah turned out for Liberia one last time in a friendly against Nigeria on Tuesday evening.

'Dancing with the Stars' Season 27 cast announced
It was previously announced that Nancy McKeon , from the Facts of Life , will partner with Pro Val Chmerkovskiy . Dancing With the Stars returns September 24 at 8 p.m. with a two-hour premiere on ABC .