Huge gold-encrusted rocks unearthed in Australia

RNCThe gold bearing rocks

RNCThe gold bearing rocks

That's more than 560 pounds (255 kilograms), or $10 million of gold if you want to just cash it in.

RNC Minerals' find last weekend at the Beta Hunt gold mine, 50km south of Kalgoorlie-Boulder, made news across the country after it was made public yesterday. "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".

Gold recovered from the Beta Hunt mine.

All of the of high-grade coarse gold was hand-picked and immediately sent from the Beta Hunt Mine to the Perth Mint in Australia, RNC Minerals said. Geologists are calling it a "once-in-a-lifetime discovery" especially since mining in the area had traditionally been geared towards nickel.

Henry Dole, the miner credited with finding the gold, said "Never in my life have I seen anything like this".

RNC Minerals said on Monday it had found a 95kg stone containing 2,440oz of gold and a 63kg specimen containing an estimated 1,620oz at its Beta Hunt mine in Western Australia.

One of the stones weighs 95 kg and contains more than 2,400 ounces (74.6 kg) of gold.

Two quartz rocks containing gold have been removed from 500 metres underground, the biggest of which weighs 90 kilograms and contains an estimated 2,300 ounces of gold, worth 2.7 million USA dollars at today's price.

Gold is rarely found in that form and the specimens are expected to go to auction for sale to collectors.

The Kambalda resident has been in the profession for 16 years and says he has never seen anything like it. "I almost fell over looking at it... we were picking it up for hours".

RNC principal asset is a 28% stake in a joint venture that owns the Dumont Project, which is located in the Abitibi mining region in Quebec. 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.

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

As a result of the find, security has been enhanced at the mine, with armed guards transporting the gold to a secure vault. We'll target our drilling to see whether we can unearth more.

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