Huge Gold Nugget

Found a 3.9oz gold nugget  Gold Prospecting NZ


NZ gold prospectors have their best day ever!  They made a little mistake on the video in their excitement of weighing the nugget when we went from grams to oz and forgot to put it into troy oz , so the nugget was 3.98oz not 4 2oz.

Huge Gold Nugget

Huge Gold Nugget

gold nugget 3.9oz

Yes, a gold nugget  find like this is  the stuff that gold prospectors dream about!  What’s today’s spot price of gold near $2,000 an ounce oh, that one large nugget had almost 4 oz has a gold value of almost $8,000 oh, and when you consider the rarity value, to a collector this could easily bring $10,000 or more!  Now, you combine this with all the other good-sized nuggets they found that day in the video,  you just want to pack your bags and head for New Zealand for yourself!

From Wikipedia, the free encyclopedia:

New Zealand has abundant resources of coalsilveriron orelimestone and gold. It ranked 22 in the world in terms of iron ore production and 29th in gold production. The total value of mineral production in New Zealand was $1.5 billion in 2006 (excluding oil and gas). The most important metallic minerals produced are gold (10.62 tonnes), silver (27.2 tonnes) and titanomagnetite ironsand (2.15 million tonnes). A 2008 report estimated that the unexploited resources of just seven core minerals (including gold, copper, iron and molybdenum) totalled around $140 billion in worth.

Prospectors discovered gold in the Coromandel Peninsula in 1852, sparking the Coromandel Gold Rush, the Otago Gold Rush and the West Coast Gold Rush in the 1860s. Initially alluvial gold was recovered, but then mining for gold in quartz veins which was recovered using stamper batteries took over. From the 1890s Otago rivers were dredged for gold, using New Zealand-developed floating dredges.

Mining for gold has a long history in areas like the Coromandel Peninsula.

Up to 2003 an estimated 998.71 tonnes of gold had been mined in New Zealand, a little under one percent all the gold mined worldwide. Available figures suggest that to that time a minimum of 312 tonnes had come from the Coromandel Peninsula, 274 tonnes from the West Coast, and 265 tonnes from Otago. Production peaked in 1866 at some 22.9 tonnes. Gold worth $250M in 2006 was produced from two large hard-rock mines (Martha Mine and Macraes Mine), several medium-sized alluvial operations, and a large number of small alluvial mines.


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1 Comment

Arizona gold nuggets · July 11, 2022 at 7:32 am

Whats up very cool. Wow.. gold nuggets!! thanks for sharing. . . . . .

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