‘I Nearly Fell Over Looking at It.’ Miners Stumble Upon $10 Million in Gold From a Single Blast – by Grace Dobush (Fortune Magazine – September 10, 2018)

http://fortune.com/

Miners in Western Australia have unearthed more than 9,000 ounces of gold from a single blast over the past few days. That’s more than 560 pounds (255 kilograms), or $10 million of gold if you want to just cash it in.

The quartz rocks encrusted with gold were found in Beta Hunt, primarily a nickel mine, in the town of Kambalda, in an area of Australia known as the Goldfields.

Miner Henry Dole is credited with hitting the mother lode. “I’ve been an airleg miner for 16 years. Never in my life have I ever seen anything like this,” he told ABC News. “I nearly fell over looking at it … we were picking it up for hours.”

The mine is owned by RNC Minerals of Canada, which plans to auction off some of the most impressive specimens. The largest rock weighs more than 200 pounds and is covered in an estimated 2,400 ounces of high-grade gold —a $2.9 million find.

“Given the rarity of the rock, and the physical beauty and presentation of the gold that’s there, it’s a very spectacular stone in multiple ways, so we’ll see whether 20, 30 or even 50% premiums apply here,” RNC President Mark Selby told ABC News.

For the rest of this article: http://fortune.com/2018/09/10/beta-hunt-mine-10-million-gold-australia/

Comments are closed.