Specimen gold value, finding gold ore and what it may be worth.
Speaking of finding gold ore. I just got off a call with my gold mining and prospecting friend Rob, we were discussing finding gold ore specimens liker the one shown in this picture. A small part of it was mentioned on our Facebook page over on “Hunting for Gold” (Like the Facebook page yet?)
After greetings and a short talk about high-banking for gold we proceeded to talk about the value of the big rock Shown here. I’ll share a full pic of the 20 lb gold bearing rock in part 2.
The value of the big rock gold specimen has an interesting tale. There are two cuts on the big rock to sample for gold to rock concentration. One cut runs in a particular direction and it yielded 33% gold for the lowest golds yield in the rock concentration. This is the small rock sample from that cut. It yielded a 33% concentration or ratio of gold to rock material. The second cut was higher gold concentration and yielded 55% gold by weight. (It is very HEAVY)
That forms a range or upper vs. lower concentration bracket of the concentration of gold inside that rock.
Now understand this bigger rock weighs (20 pounds plus) so that means there’s more than 10 pounds of gold inside that rock. At a 50% average so 10 Troy pounds gives 120 ounces of gold in the rock and assuming it’s at $1500 an ounce. We get something around $180,000 for minimum value from that, by multiplying 120 ounces times $1500 an ounce. That’s just in the bare minimum spot bullion gold value from the crushed ore at a and a low price based on not necessarily having the highest purity gold. There is some price de-rating involved in this estimate too as gold prices are now about $1700 an ounce for pure 24kt bullion.
But as you’ll see this massive gold ore sample has far more market value than the gold inside it.
See what happens to gold prices with gold jewelery from finding gold ore in the form of native gold specimens in part 2.
There’s gold in them hills Bubba
How munch is tiny rock of gold wroth
I just found gold
hey i found some rock in my land i can send you pics can you help me make clear what i am looking at
Best to post these request pictures to our Facebook page then we can all look at them – https://www.facebook.com/pages/Hunting-for-Gold/131759193542536
I am a long time miner to present, Better send a picture of it then I could also give you feed back on it.
Jess, I recently moved to Grayson Co. Kentucky. Lots of caves,I hear there is no gold in Kentucky. I would like to walk the creeks & do some panning. Whats your knowledge on any gold here in Ky. I’m stumped. But like it here.
hi my name is ryan gonyea im 24 i been doing a lot of prospecting and i have alot of gold ore and this weird gold iv never seen be for and iv done research and cant seem to find it maybe you could help we with anything if you could email me id releay appreciate it thank you its looks bule in tell you brake it in to powder it turns gold i dix test it and its 22k so whare do i go. to sell or just talk to some one. one more thing lighting striked this and it melter every thing around it and it look like gold
How did you test it ? How did you know that it’s 22K? Your story is strange. I am a long time miner and your story doesn’t fit the process.
Did u ever get any results
Try a metal detector.