On Sunday, December 1, 2024, China announced the discovery of high-quality gold ore containing approximately 1,000 tons of the precious metal. According to state media reports, this find is estimated to be worth around 600 billion yuan, equivalent to $83 billion, potentially making it the largest and richest gold deposit ever discovered, surpassing the estimated 900 tons in the "South Deep" mine in South Africa, known as one of the world’s greatest gold reserves.

The Hunan Geological Survey reported the discovery of 40 gold veins at depths of up to two kilometers in the Pingjiang area of northeastern Hunan, as reported by Science Alert. It is believed that these veins alone contain around 300 tons of gold, with three-dimensional models suggesting the possibility of additional reserves at depths reaching three kilometers.

Geologist Chen Roulin from the survey commented, "Many of the rock cores drilled have displayed visible gold." Samples indicate that each metric ton of ore could contain up to 138 grams (nearly 5 ounces) of gold, a remarkable quality compared to typical levels found in underground mines, where ore is considered high-grade if it contains more than 8 grams of gold.

The total amount of undiscovered gold deposits worldwide remains a topic of debate among experts, with some suggesting that the world may have reached "peak gold," the point at which finding new economically viable deposits becomes rare. However, this recent discovery suggests that there is still potential for finding profitable reserves.

Excavation samples from the outskirts of the Hunan site indicate that the deposit may extend further than initial estimates suggested, making this underground treasure a true "dragon's hoard."

The year 2024 has been significant for gold discoveries. In March, a treasure hunter in England found what is believed to be the largest gold nugget ever discovered in the country. In September, researchers in Australia revealed a new mechanism that may explain how gold forms, suggesting that seismic activity during earthquakes could contribute to the creation of large gold deposits.