China discovers gold deposits with reserves of more than 1,000 tons

Geologists have discovered a huge gold deposit estimated at more than 1,000 tonnes, worth a total of about $83 billion, in Hunan province, central China.

Technicians examine rock samples at the Wangu gold mine in Pingjiang County, central China's Hunan Province, Nov. 5, 2024. (Photo: Xinhua)

One of the drilled rock cores contained gold (Photo: Xinhua).

According to the announcement, geologists discovered more than 40 gold ore veins with a reserve of 300 tons at a depth of 2,000m under the Van Co gold mine , Binh Giang district.

The gold reserves of this site at a depth of 3,000 m were later estimated at more than 1,000 tons, with a total value of 600 billion yuan (about 83 billion USD).

Chen Rulin, an ore exploration expert at the Hunan Geological Bureau, said that many drilled rock cores contained gold. He added that 1 ton of ore at a depth of 2,000 meters contained a maximum of 138 grams of gold.

Meanwhile, Liu Yongjun, deputy director of the Hunan Geological Bureau, said new ore exploration technologies such as 3D geological modeling have been used at the Wangu gold mine.

Gold was also found when drilling around the edge areas of the site, opening up promising prospects, he said.