China announces an unprecedented discovery: geologists uncover deposit with more than 1,000 tonnes of gold hidden underground

Gold

China announces the discovery of a deposit in Hunan with more than 1,000 tonnes of gold, valued at over £80 billion.

China surprised the world with the discovery of a huge gold deposit in Hunan province, a find that is already generating excitement in the mining sector and could become one of the largest in recent history.

Initial estimates suggest quantities exceeding 1,000 tonnes underground, leading experts to warn that these calculations could open the way to a new chapter in mining exploration.

The fieldwork included thousands of metres of drilling, which found traces of gold in the samples.

The important mining discovery in China

The deposit is located in the Wangu gold field in Hunan and could contain more than 1,000 metric tonnes of gold, of which 300 have already been confirmed at surface levels, with an estimated value of $84 billion, according to Earth magazine.

Initial reports describe more than 40 gold veins at depths of around 2,000 metres, with projections reaching up to 3,000 metres. This is the first stage of exploration, which has confirmed that the opportunity is promising.

The fieldwork included thousands of metres of drilling, structural mapping and 3D modelling of the veins. ‘Many rock cores drilled showed visible gold,’ said Chen Rulin, a prospecting specialist, who said that studies must continue to confirm whether the deposit is viable for mining.

China Announces An Unprecedented Discovery: Geologists Uncover Deposit With More Than 1,000 Tonnes Of Gold Hidden Underground

The significance of the find is understood when compared to the South Deep mine in South Africa, which has about 870 tonnes of reserves. If the estimates are confirmed, the Hunan deposit could be among the largest in the world and cement China’s position in the gold market.

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