Chinese Geologists Discover Gold Reserves Worth Over $82Bln
Chinese geologists have discovered gold reserves valued at some $82.8 billion at a deposit in the central province of Hunan, the province’s geological bureau said on Thursday.
Geologists have identified more than 40 gold-bearing veins at a depth of over 2,000 meters (6,561 feet) at the Wangu gold deposit in Pingjiang County, according to a statement on WeChat. A total of 300.2 tonnes of gold reserves were found in the primary exploration area, with the highest gold content in the ore reaching 138 grams (4.9 ounces) per tonne.
“Experts agree that the scale of the ore deposits at the Wangu gold site is immense. It is estimated that at a depth of more than 3,000 meters, the gold reserves could exceed 1,000 tonnes, with the value of the resources reaching 600 billion yuan [$82.8 billion] based on the current price of gold,” the statement said.