As you read this story, you will learn the following:
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The “supergiant” gold deposits under China’s existing gold mines could be the largest in the world.
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Officials estimate the find could range up to 1,100 tons and extend to a depth of 9,800 feet below the surface.
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The discovery also shows promise as a high-quality gold producer.
The gold deposits discovered in China are not only huge. it is excellentHuge. In fact, Chinese experts claim it may be the largest deposit of precious metals (not just gold ore) in existence today.
How big is the “extra large” deposit under the Hunan Wangu Gold Mine? Experts estimate it at 1,100 tons.
A team of geologists discovered more than 40 gold veins 6,600 feet underground in the Wangu gold mining area in Pingjiang County, Chinese state media reported, containing about 330 tons of gold ore. But 3D models exaggerate that number, showing it could weigh 1,100 tons at a depth of 9,800 feet. If the model is accurate, the total value of the deposits could be around $83 billion.
The report said the find contained 138 grams of gold per ton of ore, which is unusual in gold mining, adding further weight to an already important find. “Many drilled cores have shown obvious gold deposits,” said Chen Rulin, a prospecting expert at China’s Hunan Provincial Geological Bureau, according to Chinese state media.
If the 1,100-ton figure holds true, it would make the newly discovered gold mine the world’s largest, surpassing even South Africa’s South Deep gold mine, which holds 1,025 tons of gold. mining technology. Gold mines in Indonesia, Russia, New Guinea and Chile are among the top five in the world. Nevada’s Carlin Trend and Cortez gold mines ranked sixth and 10th, respectively.th worldwide.
Historically, 233,000 tonnes of gold have been mined around the world, all of which still exists in some form, with two-thirds of the mining taking place since 1950.
China is already the world’s largest gold producer, accounting for about 10% of global output, but it relies heavily on gold, using about three times the amount it mines each year. Such high interest rates require the country to buy so much gold from other countries that it is also the world’s largest importer of the precious metal. The new discovery reportedly caught the attention of the world’s gold market enough to send gold prices to $2,700 an ounce CCN network.
The golden news may not stop there. According to Liu Yongjun, deputy director of the bureau, another gold ore was discovered during drilling in the surrounding areas of the mining area.
