Australian Prospector Discovers $150,000 Gold Nugget

An Australian prospector has unearthed a gold nugget valued at approximately $150,000 after nearly missing the find in outback New South Wales. The anonymous prospector had been searching Mount Stuart Station near Tibooburra for several days.

A faint signal from a Gold Monster 2000 metal detector grew stronger, leading to the discovery. "It wasn't a loud signal for the size of the piece that it is [but] once I got down to 100 [millimeters] or something like that, the machine was squealing," the prospector told the ABC. "It might have been on the first or second scrape I just seen this bright yellow dot in the centre of the hole."

The prospector, who named the nugget the 'Tibooburra Spud,' described years of searching and unearthing various discarded items. "You dig lots of rubbish … lots of lead bullets, old timer's nails, horseshoes, everything," he said.

Tests revealed the 1218-gram nugget, which contains quartz, is composed of approximately 940 grams of pure gold. The prospector estimates the find could sell for up to $200,000 to a collector.

Footage captured the prospector's astonishment as he uncovered the gold. "Have a fing look at that," he exclaimed, sounding breathless. "Have a look at that, I can't believe this. Oh my God, that is solid fing gold, holy holy s***. It's not even that deep, it's probably probably only 400 [millimeters] deep."

Greg Spangler, who sells prospecting supplies in Broken Hill, noted the rarity of gold finds of this weight. "We have a fictitious club [called] the Ounce Club… but not many people [are] in the 'Kilo Club,'" he said.

The discovery occurs at a time when gold prices have reached historically high levels. Although prices have slightly cooled from their January peak, gold remains valuable. Spangler also highlighted the non-monetary benefits of prospecting, describing it as a peaceful pastime that can be enjoyed by the whole family.