Man discovers valuable gold nugget near old mine, worth around $100k.

A treasure hunter found an incredible discovery buried under a decaying log and several feet of soil.

August 14th 2024.

Man discovers valuable gold nugget near old mine, worth around $100k.
Luke Phillips, a metal detectorist and popular YouTuber, recently made a discovery that he describes as "the find of a lifetime." While out searching for gold in the Ballarat bush in May, he stumbled upon an old miner's hole dating back over 150 years to the days of the Victorian gold rush. Phillips shared his exciting find with 9news.com.au, explaining how he came across it.

According to Phillips, the miner had dug a hole and discarded the dirt next to it in search of gold. After finding a few small pieces of gold near the hole, Phillips picked up a faint signal with his metal detector under a rotting log covered in moss. He rolled the log out of the way and was able to hear the signal better, but he still wasn't sure if it was gold causing the detector to go off. He explains that this is a common occurrence in metal detecting, as false alarms often happen.

Despite his initial uncertainty, Phillips had a gut feeling that this could be something special. With the help of his father-in-law, Andrew, who was with him at the time, he began to dig through the pile of dirt left by the original miner. As they dug deeper, Phillips started to "get an inkling that it was gold." After over an hour of digging, his intuition was proven correct when he pulled out a hefty gold nugget the size of his fist.

Phillips describes the moment as exhilarating and one that will stay with him forever. He has since sold the nugget, which weighed almost 28 ounces, with 21 ounces being pure gold and the rest being quartz. While he has chosen to keep the sale price confidential, it is estimated to be worth around $79,000 based on current gold prices. However, Phillips explains that nuggets often sell for a premium due to their rarity, and it could potentially be worth six figures.

This incredible find comes after a challenging year for Phillips. In January, he faced a $115,000 fine and possible jail time from Heritage Victoria for allegedly disturbing archaeological sites. This was due to a little-known rule in the Heritage Act, which defines any sites that are 75 years or older, or contain items at least 75 years old, as archaeological sites. Despite obtaining permission from landowners and only exploring public sites, Phillips was pursued by Heritage Victoria for three months before they decided not to take further action.

This experience led Phillips to shift his focus on his YouTube channel towards his gold exploration. This change has quickly paid off in a big way, as he has now found this lucrative nugget. As a father-of-two who had to stop working full-time due to health issues, Phillips explains that this discovery will help his family in a significant way. He hopes that it will also inspire others to try metal detecting and demonstrate the importance of persistence and hard work.

Phillips also shares that his success is a result of exploring areas that others have overlooked. While the area where he found the nugget had been well-detected by other treasure hunters, they had not bothered to move a rotting log that was blocking their access. This goes to show the importance of going the extra mile and not giving up, even in areas that seem to have been picked over.

This is not the first time that a gold nugget of this size has been found in the region. Last year, an anonymous fossicker discovered a massive chunk of rock containing around $240,000 worth of gold. While it is unclear exactly where the nugget was found, it was in the "Golden Triangle" region, covering Bendigo, Ballarat, and Wedderburn. Phillips can now be added to the list of lucky treasure hunters who have struck gold in this area.

Luke Phillips' remarkable discovery serves as a reminder of the untapped potential that lies beneath the surface, waiting to be unearthed by those who are willing to put in the time and effort. Contact reporter Emily McPherson at [email protected] for more information on this story.

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