Most lucrative jackpot ever? World's largest deposit of gold, worth around $80 billion found; here's the location and country

A significant gold ore deposit has been discovered in central China which is claimed to be containing approximately 1,000 metric tons of gold eventually valued at around 600 billion yuan (US$83 billion), reported Science Alert.

According to Science Alert, this find which is being reported by Chinese state media could actually be the largest gold reservoir ever uncovered while surpassing the 900 metric tons found in South Africa's South Deep mine. The Geological Bureau of Hunan Province identified 40 gold veins at a depth of 2 kilometers in Pingjiang County while initial estimates suggest that these veins alone hold 300 metric tons of gold.

Also Read: Cyber Monday 2024: Target and Walmart unleash massive discounts | Top Deals


At the same time core samples indicate an extraordinary quality, with each metric ton of ore potentially containing up to 138 grams of gold, asserted Science Alert. This discovery has contributed to rising gold prices amid global economic uncertainties.

As of earlier this year, China already led the world in gold reserves which is estimated at over 2,000 tons while contributing to around 10% of global output, noted Science Alert. The ongoing exploration hints that more reserves may exist beyond the initial findings while suggesting that economically viable gold deposits are far from exhausted.

Also Read : NYT Mini Crossword clues and answers for November 30: All about today’s challenge

FAQs:

In recent days, where is a gold ore deposit has been discovered?
A significant gold ore deposit has been discovered in central China which is claimed to be containing approximately 1,000 metric tons of gold eventually valued at around 600 billion yuan (US$83 billion).

What did the Geological Bureau of Hunan Province identify in the recently discovered gold ore in Central China?
The Geological Bureau of Hunan Province identified 40 gold veins at a depth of 2 kilometers in Pingjiang County while initial estimates suggest that these veins alone hold 300 metric tons of gold.