Australian amateur prospector finds massive gold nugget

An amateur prospector in the Australian state of Victoria has astonished experts by unearthing a gold nugget weighing 5.5kg (177 ounces).

The unidentified man, using a handheld metal detector, found the nugget on Wednesday, lying 60cm underground near the town of Ballarat.

Its value has been estimated at more than A$300,000 ($315,000: £197,000).

Local gold experts say gold has been prospected in the area for decades, but no such discovery had been made before.

Gold currently trades in Australia at about A$1,600 per ounce, meaning the discovery would be worth about A$283,200, but its rarity and the fact it weighs more than a kilogram would add a premium, said Mr Kent.

He told Australian media the prospector had been using a state-of-the-art metal detector, which meant he was able to find the gold relatively deep underground in an area which had been searched many times in the past.