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[BUSINESS] · Australia · 7 sources

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Australia: Gold prospector finds large nugget in Outback

An anonymous gold prospector discovered a large gold nugget in the Australian Outback, specifically at the Mount Stuart Station near Tibooburra in New South Wales. The find, which the discoverer nicknamed the “Tibooburra Spud” due to its potato-like shape, was located approximately 100 millimeters underground after the prospector followed a signal from a metal detector.

The quartz-infused nugget weighs 1,218 grams, containing approximately 940 grams of pure gold. Based on current market values, the specimen is estimated to be worth between 150,000 and 160,000 Australian dollars. The finder expressed hope of selling the piece to a collector for up to 200,000 dollars.

Local equipment expert Greg Spangler noted that gold of this weight is extremely rare. The discovery occurs during a period of significant gold price fluctuations, following a record high earlier this year.

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ABC News · Greg Spangler · Mount Stuart Station · New South Wales · Tibooburra

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