Beta Hunt mine yields 9000 oz of high-grade coarse gold


RNC Minerals adds that last week in the mine near Kalgoorlie produced gold to the amount of 15 million canadian dollars (11 million US dollars).

The largest rock weighs about 198 pounds (90kg) and took three men to lift it onto the back of a pick-up truck.

RNC Minerals' find last weekend at the Beta Hunt gold mine, 50km south of Kalgoorlie-Boulder, made news across the country after it was made public yesterday. "These discoveries highlight the high-grade gold potential of Beta Hunt", he added.

RNC's chief executive Mark Selby dubbed the find "one of those once-in-a-lifetime moments".

Buchanan said talks with the unidentified "preferred bidder" no longer are occurring on an exclusive basis, and RNC is exploring all alternatives including holding onto Beta Hunt in addition to eventually selling the mine.

AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

"As I was drilling it, you could see the gold shavings coming out of all the holes and I thought - there's something here".

"Final ounces will be determined once the coarse gold is processed and/or sold over the next week, which is expected to yield approximately $15 million in cash", the company said.

The second-biggest piece was not far shy at 132 pounds (60kg), with an estimated 1,600 ounces lodged within the quartz specimen, valued at about $2.7 million.

"This sort of bonanza zone is incredibly unique", the geologist said.

Australian miners often extract just 2g of gold per ton of rock - an expert said the gold particles are often too small to be seen by the naked eye - but, in this case, Canadian mining company RNC Minerals said 2,200g per ton was extracted, the BBC reports.

The gold was discovered by miner Henry Dole, who told the ABC it was like hitting the "mother lode". "I've been an airleg miner for 16 years". "I almost fell over looking at it ... we were picking it up for hours".

"I flip my phone on and find out", he said. For reference, RNC Minerals mined just 13,320oz at Beta Hunt during the entire last quarter.

"Given the rarity of the rock, and the physical beauty and presentation of the gold that's there, it's a very spectacular stone in multiple ways, so we'll see whether 20, 30 or even 50-percent premiums apply here", Shelby said.

"Very, very seldom do we see results on that level".