A 5.5kg gold nugget estimated to be worth up to $300,000 has been found by a prospector in bush near Ballarat.
The prospector, who wished to remain anonymous, discovered the nugget on Wednesday at a depth of 60cm and footage of the discovery was soon posted on YouTube.
Once the signal had been tracked through an expensive metal detector, the prospector kicked off leaf mulch from the surface and decided to dig after the ground looked in original condition.
News Limited reports Ballarat Mining Exchange Gold Shop owner Cordell Kent said the prospector initially thought he had found a car bonnet, but detected a glint of gold after he started digging.
“He cleaned the top of it and the gold kept expanding … he saw more and more gold … he couldn't believe what he was seeing,” he said.
The nugget is worth about $282,000 in weight, but is worth more because of the rarity and size of the nugget.