World's largest gold deposit discovered, worth over $80 billion: ScienceAlert

A high-quality gold ore deposit containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media.

Valued at around 600 billion yuan, or $83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever discovered, surpassing the estimated 900 tonnes found in the mother of all gold reserves. gold, the South Deep mine in South Africa.

Technicians from the Geological Disaster Survey and Monitoring Institute of Hunan Province check rock samples at the Wangu goldfield in Pingjiang county, central China's Hunan province, 5 November 2024. (Xinhua/Su Xiaozhou)

The Hunan Provincial Geological Bureau announced the detection of 40 gold veins at a depth of 2 kilometers (1.2 miles) in Pingjiang County, northeastern Hunan.

They alone were thought to contain 300 tonnes of gold, with 3D modeling suggesting additional reserves could be found down to a depth of 3 kilometers.

“Many cores drilled showed visible gold,” says bureau prospector Chen Rulin.

Core samples suggest that each metric ton of ore could contain up to 138 grams (nearly 5 ounces) of gold, an extraordinary level of quality given that ore extracted from underground mines is considered high-grade. it contains more than 8 grams.

This photo taken on November 20, 2024 shows drilled rock samples from the Wangu gold field in Pingjiang County, central China's Hunan Province. (Xinhua/Dai Bin)

China already dominates the global gold market with reserves estimated at more than 2,000 tonnes by early 2024, with its mining industry contributing around 10% of global production.

The announcement of the results contributed to a further rise in the price of gold, already skyrocketing, as demand for the resource continues to rise amid global uncertainty.

It is unclear how much of this precious mineral remains to be discovered around the world, with experts divided on whether we have reached peak gold.

Forged in the furnaces of entwined stars long before Earth formed, our planet's glistening veins are a finite resource that takes eons to precipitate into easily exploitable form.

Based on these latest findings, we may be far from depleting economically viable reserves.

Cores taken from the outskirts of the Hunan site suggest the deposit may extend even further than initially predicted, making the reservoir beneath it a veritable dragon's spoil.

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