Victorian man discovers $240k gold nugget with budget metal detector

The amateur prospector made the discovery in Victoria’s “Golden Triangle” armed with just his rookie metal detector.

The 4.6kg rock contained 2.6kg of gold. Picture: Nine

An amateur prospector has struck gold – to the tune of $240,000.

The man, who did not wish to be named, was armed with his budget metal detector when he discovered the 4.6kg rock in Victoria’s “Golden Triangle”, an area stretching between Ballarat, Bendigo and St Arnaud.

Curious as to whether the rock was worth anything, he took it to Lucky Strike Gold in Geelong for evaluation.

Darren Kamp said the nugget was the biggest gold specimen he'd seen in his 43-year career. Picture: Lucky Strike Gold

Prospecting equipment retailer and expert Darren Kamp soon discovered the rock contained a staggering 2.6kg of gold.

“He pulled this rock out of his backpack and as he dropped it in my hand he said, ‘Do you think there’s $10,000 worth in it’?” Mr Kamp told NCA NewsWire.

“As soon as it hit my hand I said, ‘Try $100,000’.”

The man then told Mr Kamp that his wife would be happy, as he had only brought in half the rock, leaving the other half at home.

“It’s one of those life-changing pieces,” Mr Kamp said.

“When he dropped it into my hand my jaw dropped with it.”

The 4.6kg rock, named ‘Lucky Strike’, contained 2.6kg of gold. Picture: Lucky Strike Gold.

Small nuggets of gold can reach up to $1000, with the value of gold soaring amid widespread inflation.

“I’ve been in the gold industry for 43 years and it’s the biggest gold specimen I’ve seen,” Mr Kamp said.

“You see big specimens found by big companies underground … but to find it with a detector, it’s the biggest one I’ve seen.”

Time outdoors and cost of living attracting young prospectors

Small nuggets of gold alone can reach up to $1000. Picture: Lucky Strike Gold

Mr Kamp said prospecting had become increasingly popular among young people.

“If you asked me a few years ago, I would have said the average age for this hobby is 50 and over,” he said.

“But now we’re seeing a lot of people in their 20s and 30s doing it.”

Hunting for gold could be considered a pleasing pastime for many reasons, but in recent times it has drawn in prospective prospectors for its connection to nature and potential to make a few bucks.

“There’s a lot of hobbyist weekend prospectors who like to go into the bush to switch off and enjoy the day, and if they find some gold it’s just a bonus,” Mr Kamp said.

“I know times are tough out there for a lot of people, and this is what people did in the Depression.

“They got their gold pans and went out and found a few extra dollars.”

Victoria’s ‘Golden Triangle’

Map of Victoria showing major gold mining regions. Picture: Victoria state government

This area in north central Victoria stretches between Ballarat, Bendigo and St Arnaud, encompassing small towns between such as Daylesford, Maryborough and Castlemaine.

During the prosperous gold rush of the 1850s, these towns inherited beautiful buildings — many now repurposed as museums, galleries and cafes.

Gold nuggets from this region were famous for their quantity, size and purity, most of which were alluvial (found in streams or river beds).

Though the recent discovery of the 4.6kg rock is impressive indeed, it pales in comparison to the Welcome Stranger – a 72kg gold nugget found in 1869 near Moliagul.

Today, such a nugget could fetch about $6.8m.