In today's Australian.
Remember the Beaconsfield mine rescue back in 2006?
The mine shut down some years ago, but the new owner decided to test the waste swamp associated with the mine.
Surprisingly, no one had ever tested for gold or silver the swamp created by water and sludge that was flushed from the mine over the years since 1870.
Some samples go over 10g per tonne, with the average at 3.2g. Up to 13,000 ounces with minimal processing required.
Great news for the new owners and the town.
Eureka! Gold find turns small towns eyesore into $30m windfall
"In an extraordinary eureka moment, gold worth an estimated $30m has been found in a contaminated wasteland in Tasmanias north, turning a towns environmental eyesore into an economic bonanza.
A swamp in Beaconsfield, the small town that became a household name in the 2006 mine rescue, has built up a slimy, red sludge deposited by water flushed from the mine as far back as the 1870s.
London-listed NQ Minerals, which last year paid just $2m for the mothballed Beaconsfield Gold Mine, decided to test the unsightly muck for gold and was very pleasantly surprised by the results.
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Not only was there gold amid the grime, but in unexpected commercial qualities and quantities.
Weve done some 300 samples across the area and on average were getting a (gold) grade of 3.2 grams per tonne, said NQ executive director Roger Jackson.
The average mine in Australia is less than 1.5 grams per tonne. But we dont have to drill and blast it, we dont have to crush it or even grind it. Its already fine enough to be put straight in the plant to have the gold leached out of it.
In mining terms, its money for jam and lots of it. There should be 13,000 ounces produced, so depending on the $A gold price, its in excess of $30m worth of gold, Mr Jackson said.
Suddenly, a longstanding environmental problem a contaminated wasteland has become a significant economic opportunity.
Whats really extraordinary is that dozens of people over decades have looked at this (sludge) as a problem and tried to resolve it and no one ever tested for gold.
There are reams of paper: studies about what the material is and its been tested for every element, except gold and silver.
We did (test for gold) and were very pleasantly surprised. We kept testing and kept coming up with good grades.
The 3.2 (grams per tonne) is the average but there are grades as high as 10 grams.
Revenue from exploiting this waste will fund development of mining tunnels to restart the mine proper, mothballed in 2012 because of low gold prices and the need to recapitalise to reach deeper gold deposits.
Its the perfect stepping stone to the main game of going underground, Mr Jackson said.
Locals who have heard the news couldnt be happier, with dozens of jobs to be created, flow-on benefits for local businesses, and the towns eyesore to be restored to a natural wetlands.
We are really excited; its something that over coming years will inject a lot of vibrancy into the town and give a lot of employment opportunity, not just for Beaconsfield but the region as a whole, said Rolph Vos, general manager West Tamar Council.