Incredible moment Aussie prospector unearths $150,000 gold find in the outback after almost walking straight past it: ‘I can’t believe this’
A prospector in outback New South Wales found a large gold nugget after nearly walking past it, following several days searching near Tibooburra. The discovery is notable for its size and potential value, and came after years of fossicking among discarded metal and other rubbish.
Nicknamed the “Tibooburra Spud”, the quartz-speckled nugget weighs 1,218 grams and contains about 940 grams of pure gold. The prospector estimated it could be worth $150,000 to $160,000, or as much as $200,000 to a collector; a Broken Hill prospecting-supplies seller said finds of that weight are rare. Gold recently reached almost $8,000 per troy ounce and is now about $5,700.
In short
- A prospector found a 1,218-gram nugget near Tibooburra.
- It contains about 940 grams of pure gold.
- Its estimated value could reach $200,000.
Explained simply
Tibooburra is a remote town in far-western New South Wales, in a region with a long history of gold prospecting. Fossicking is the small-scale search for minerals, often using a metal detector or hand tools.
A gold nugget is naturally occurring gold, sometimes mixed with rock such as quartz. Its value depends on how much gold it contains and the market price, while unusually large or distinctive nuggets may also attract collectors.
The prospector in this story is an individual searching in the outback, while prospecting-supplies sellers serve people who take up the hobby. Large nuggets are uncommon, so finds like this draw attention from prospectors and collectors.
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