For the second time in nine months, a West Australian gold mine has yielded spectacular gold specimens, defying the notion that lightning never strikes twice. This extraordinary discovery occurred at the Beta Hunt mine, located near the historic mining town of Kambalda, 630 kilometers east of Perth. Miners unearthed an estimated 987 ounces of coarse gold in 238 kilograms of rock over the course of a few days, valued at around $1.9 million at current gold prices.
The Beta Hunt mine gained international attention last year when miners uncovered some of the largest gold specimens ever found, some weighing as much as 94 kilograms. This find generated over 27,000 ounces of gold, equivalent to about 760 kilograms, and saved the mine from closure, earning Canadian miner RNC Minerals over $40 million.
The recent discovery, though not as rich as the previous one, holds promise. It’s located approximately 25 meters beneath the original find and 15 meters to the south, and miners are optimistic about discovering more gold as they continue to work in the area.
Geologist Emily Cole described the scene after the discovery, noting that these gold pockets are becoming more frequent, albeit still remarkable. Miners tirelessly collected gold-covered rocks for hours, and the largest chunk found was about 30 centimeters of sparkling yellow metal, estimated to contain 100 ounces, or about $190,000 worth of gold.
Despite the rarity of these specimens, most of the gold will be crushed and melted into bars, with only the most exceptional pieces being preserved. Modern technology cannot predict these pockets of visible gold, and it remains a matter of luck. Most mines worldwide would be fortunate to find small specks of gold, requiring a magnifying glass to confirm their existence.
Last year’s discovery transformed the fortunes of the aging Beta Hunt mine, preventing its closure and leading to a significant increase in production. The newfound wealth also enabled RNC Minerals to acquire the nearby Higginsville gold operations for $50 million, with plans to process gold from Beta Hunt at the Higginsville mill.
The largest specimens from the previous discovery have embarked on a world tour and are in the process of being sold to private collectors. RNC Minerals CEO Mark Selby shared that these rare specimens generated significant interest in the mining and exploration industry, with CEOs of major mining companies taking selfies with the rocks. Discussions are ongoing with the Perth Mint to keep the largest specimens in Australia.
Melbourne-based gold analyst Sandra Close believes that these unique specimens should remain in Australia, as they are a part of the country’s heritage and history as one of the world’s top gold producers.