Amateur Australian prospector finds massive gold nugget

SYDNEY (REUTERS) - An amateur Australian prospector who has not had much luck searching for gold has struck it rich, unearthing a nugget heavier than a newborn baby and worth more than US$300,000 (S$367,000).

The anonymous prospector discovered the 5.5 kg nugget near the country town of Ballarat and in an area known as the "Golden Triangle" due to its rich veins which sparked a gold rush in the 1850s.

The find came to light on Wednesday when the man walked into the Ballarat Mining Exchange Gold Shop and told owner Cordell Kent: "Mate, I found a good one". He then produced the nugget, adding that he had weighed it on the bathroom scales at home.

"It's a substantial nugget," Kent told Reuters.