By Dillon Shelley
THE Goulburn Valley is sitting on a veritable gold mine, with an estimate of up seven million ounces of gold hidden beneath its surface, according to a study by the Geological Survey of Victoria. Current gold prices project the total value of this hidden treasure could be up to an astounding $22.1B.
The study, which utilised advanced survey techniques to create a detailed three-dimensional model of the land, revealed the existence of rich gold deposits, some as close as 100 meters beneath the surface, with others reaching depths of up to 300 meters. However, since the conclusion of the survey some time ago, no tangible gold has yet been produced.
Paul McDonald, the Geological Survey of Victoria Director, recently stated, “Gold exploration amongst older rocks under younger cover remains at an early stage in the northern section of the Melbourne Zone.” He added that several companies have been actively exploring north of Bendigo since the survey’s conclusion, identifying new gold mineralization and resources.
With modern drilling technology allowing such gold to be mined, McDonald envisions a “corporate gold rush,” with potential new goldfields spanning from Swan Hill to Hamilton and across to Shepparton, forming what he refers to as the “new golden triangle.”
Despite the challenges that mining gold from beneath sediment may present, the prospect of a new gold rush in Victoria, particularly in the Goulburn Valley, is an exciting one. As McDonald aptly put it, “The gold itself is still romantic. It’s just a bit harder to get at.”
