Man Finds 8.2-Pound Gold Nugget in His Backyard
Some lucky bastard A California Man discovered an 8.2-pound lump of gold on his property. He pulled it from the ground '49er style, with pick and shovel (plus a metal detector).
Nuggets so large are exceedingly rare. It just sold at auction for $460,000.
SFGate.com reports on the Sierra Mountain find, and how it will bring increased interest to the entire region:
With a little luck and some mechanical help, a gold rush will explode next month in the Sierra Nevada foothills.
Actually, it'll be a minirush - specifically for the 180-acre plot of land where the biggest Sierra gold nugget in existence was recently dug up.
Geologists are heading there on May 16 with ground-penetrating radar to assess how much more gold is lying around. By month's end, they expect to advise the owner to put the land up for sale for as much as $1.5 million. Maybe more.
The man who discovered the hunk of metal remains anonymous. Probably so there isn't a literal gold rush onto his property. He also discovered 4 and 10 ounce hunks on the same spread.
This quote from a geologist, also from the SFGate.com story, is intriguing.
"That big nugget was a 1-in-a-billion find, but the likelihood that there is more gold on that land is 100 percent," said Holabird, who has been a mining geologist for the federal government and Fortune 500 companies for 35 years. "Just how much I can't say just yet.
Wonder how many mining outfits now plan on prospecting in 'dem dare hills. Might be last time anybody did, they didn't bring sophisticated metal detectors and ground-penetrating radar... Something to research a bit.+36
More like this...Hank Paulson Gets Appropriate Coinage
Ex Treasury Sec and Goldman CEO Henry Paulson honored with horrifically-overpriced $42 bronze coin.
Gold This Decade
What will happen to gold in the face of an aging population, outsourced jobs and peak oil? This clear, comprehensive video explains what will go down in the next decade...
From the folks who brought us the hilarious and educational video, "Quantitative Easing Explained".