The gold industry might be dominated by mining companies, but there is plenty of gold that has been found by individuals. Every year there is a story about people stumbling upon a gold nugget here and there. The Australian gold rush of the 1800s is one of the biggest the gold has seen. There has been talking of gold mining reaching its peak, but the demand for it has not waned. The truth is, there will always be a need for gold. Gold will always be a store of value.
The country continues to draw amateur prospectors who come out to try their luck. Although mining companies dominate the gold industry and apply complex operations, including mining into rock, sluicing and dredging, people still find gold on the surface using sophisticated metal detectors. There are fossicking clubs that organize excursions into the Australian outback to hunt for whatever gold they can find on the surface. There are also buyers that small time fossickers can sell gold nuggets to. Metal detecting for gold can be tedious, and most of the time, the Nuggets are so small they aren’t worth selling. Some people, however, get lucky and make a big find. There is no telling how many significant gold nuggets have been found in Australia in recent times. People tend to keep such information to themselves. Some finds are so significant that they make newspaper headlines, but even then, the finders still remain anonymous.
In 2018, an individual prospector found a 50-pounds nugget in Kalgoorlie. The nugget is known as the Ausrox Nugget. It made history and it put Australia back on the map. The nugget was sold to an American buyer for a million dollars.
A retired man, found a 3.23kg nugget in the northern Goldfields using a metal detector. He has been searching the same patch of land and finally found gold at 800mm in clay soil. This has not been the first time he has found a nugget but this was the biggest find of his life. This nugget is worth $110,000. The nugget called “Duck’s Foot” proves that even areas that most people believe have been picked clean of gold still have some nuggets waiting to be discovered.
Two significant finds were made by a Canadian Gold Mining company RNC. One nugget found at the Beta Hunt gold mine and weighed 9,250 ounces, the other specimen was found in Kambalda. The Kambalda find consisted of a 95kg specimen and another which weighed 63 kg. Another gold mining company also discovered a new vein, which it dubbed the ‘Father’s Day Vein’ which is expected to produce 24,000 ounces of gold worth $40.3 million.
Stories like this keep people interested in nuggets. And because of this, there is no shortage of buyers to sell gold nuggets to. People go out every weekend if not every day looking for gold nuggets. It has even evolved into a tourism industry with tour companies arranging tours out for people to go out with their metal detector. The gold buying industry is thriving because of small time prospectors who find little gold nuggets every day out in the outback. Fossicking has become a profitable past time for a lot of people.