11-pound gold nugget found

Jan. 17, 2013 at 3:38 PM

BALLARAT, Australia, Jan. 17 (UPI) -- An Australian miner found a more than 11-pound gold nugget worth at least $300,000, a gold shop owner said Thursday.

The (Ballarat) Courier reported the nugget was found about 2 feet underground in Ballarat by a local prospector who took it to the Ballarat Mining Exchange Gold Shop.

Gold shop owner Cordell Kent said the nugget would be worth about $300,000 by weight but actually is more valuable left in its natural state.

"I can't remember a nugget this big ever being found locally," he told The Courier.

He said a find like this "gives people hope" and predicted a fresh gold rush.

Related UPI Stories
Latest Headlines
Trending News
Texas girl's nonstop sneezing baffles doctors
Burger King's black bun blamed for customers' green poop
Danish 'Do It For Mom' ad suggests sex vacations for adult children
Alaska Airlines misplaced its own CEO's luggage
Semi truck caught on camera crossing South Carolina flood waters