Gold Mine Discovered in Kambalda

$15 Million Worth Found in Four Days

Gold Mine Discovered in Kambalda

Underground miners at the Beta Hunt mine near the town of Kambalda, have unearthed rare gold specimens which geologists are calling a "once-in-a-lifetime discovery" - finding more than $15 million worth of gold in just four days.

The gold-encrusted rocks were found about 500 metres below the surface in an area just three metres wide and three metres high.

The largest specimen weighs in at 90 kilograms and is covered in an estimated 2,300 ounces of gold worth about $3.8 million at today's gold price. Another 60kg specimen is estimated to contain 1,600 ounces, or about $2.6 million in gold. The rich cluster of high-grade gold has so far produced more than 9,000 ounces.

Security has since been tightened after the find, workers are under constant video surveillance and the area of the mine where the gold was found has been fenced off and padlocked and armed guards have been transporting the gold to a secure vault. Just a handful of gold rocks could be worth several thousand dollars.

The mine's Canadian owners, RNC Minerals, are planning an auction for the large specimens of gold found.

The question now is whether there is more gold waiting to be found at Beta Hunt. If so, it could lead to the beginning of a revival for the Kambalda community, which has been hit by multiple mine closures in recent years.