Miners in Australia discover massive chunks of gold worth millions

Kambalda the Western Australian town where the discovery was made has been fighting for survival with low prices of nickel forcing four large mines to close in three years

A second stone weighing 63 kg, had approximately 1,600 ounces (49.7 kg) of gold.

Huge gold-encrusted rocks estimated to be with millions of dollars were discovered last week in a Western Australia mine - a find that experts are calling "rare and very exciting", BBC News reported.

Speaking with Australia's ABC News, geologist Zaf Thanos heralded the discovery as remarkable, telling the news organisation that most gold discoveries in mines across the world are only visible under a magnifying glass.

The miner credited with discovering the gold describes it as the "mother lode", telling ABC he's never before seen anything like it: "I almost fell over looking at it". The deposits are worth more than 11 million U.S. dollars.

All of the of high-grade coarse gold was hand-picked and immediately sent from the Beta Hunt Mine to the Perth Mint in Australia, RNC Minerals said.

The discovery by RNC nearly 150 years after that discovery comes amid a resurgence in Australia's gold industry, with companies ploughing a record A$223m ($158m) into exploration in the June quarter - up 16% on the same period a year earlier.

RNC is the first owner of the Beta Hunt mine to focus on drilling deeper in the Lunnon Basalt in its search for gold.

President and CEO of RNC, Mark Selby, said: "Recovering 9250 oz of high grade coarse gold from a single cut on the 15 level at our Beta Hunt mine, including specimens which could rank among the largest ever discovered, underlines the importance of this discovery".

The Beta Hunt mine has been primarily used as a source for nickel since the 1970s. "I almost fell over looking at it ... we were picking it up for hours".

He said the real question, unanswerable without more information, is whether the gold comes from a vein that will quickly "pinch out or whether it stays wide".

The company mined the underground Beta Hunt goldmine in Kambalda and has discovered two of the biggest gold specimens in recorded history.

Armed guards have been transporting the gold to a secure vault.

"I truly believe there's something bigger and better down there", Dole told ABC News.

Gold is rarely found in that form and the specimens are expected to go to auction for sale to collectors.

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

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