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RNC makes 'once in a lifetime' discovery

RNC makes 'once in a lifetime' discovery

"But we bought it because there were a bunch of gold deposits sitting beneath it".

It took three people to lift the 90kg specimen onto a utility vehicle when it was found, so it could be brought to the surface for further inspection.

"These discoveries highlight the high-grade gold potential of Beta Hunt", Selby said.

A second stone weighed 63kg and had 1620 ounces of gold.

"This is a spectacular discovery - possibly the find of the century in the Australian gold fields", said Ross Large, professor of geology at University of Tasmania. RNC said it had made a decision to consider all alternatives, including a sale to maximise the value of Beta Hunt to its shareholders. Geologists are calling it a "once-in-a-lifetime discovery" especially since mining in the area had traditionally been geared towards nickel.

"As I was drilling it, you could see the gold shavings coming out of all the holes and I thought - there's something here".

Miners in Australia have dug up gold worth more than $11 million in just four days-and there may be more to come.

Another 60kg specimen is estimated to contain 1600 ounces, or about $2.6 million in gold.




Henry, who has been in the profession for more than 16 years, says he has never seen anything like it. "There were chunks of gold in the face, on the ground, truly unique I reckon", according to the ABC news report.

Dole continued: "I almost fell over looking at it ... we were picking it up for hours".

"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 sediment horizon is now also interpreted by geologists at the Beta Hunt Mine as a zone of chemical interaction between the gold bearing fluids and pyritic sulfides, which under the right conditions, allow large gold crystal growth and extremely high-grade gold deposition.

Security has been reinforced at the mine with armed guards on site transporting any and all new discoveries to a secure vault before being shipped to the Perth mint.

"I flip my phone on and find out", he said.

"Very, very seldom do we see results on that level", Spearing added.

The mine's Canadian owners, RNC Minerals, are planning an auction for the large specimens.


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