China Uncovers $83 Billion Gold Treasure Buried Nearly 10,000 Feet Underground

China has made a jaw-dropping discovery with gold reserves valued at an astounding $83 billion, as revealed by state media. This incredible find has sparked excitement both domestically and internationally.

On November 28, the Geological Bureau of Hunan Province announced the discovery of what they are calling a ‘superlarge gold deposit.’ This treasure trove was located in central China’s Hunan Province, specifically beneath the Wangu field in Pingjiang County. The announcement came after a team of geologists conducted extensive exploration efforts in the area.

Using cutting-edge techniques, the team from the Hunan Province Geological Disaster Survey and Monitoring Institute employed 3D geological modeling to pinpoint the deposit. Combined with advanced mechanical drills and other equipment, the effort resulted in uncovering this remarkable gold reserve.

Chen Rulin, an ore-prospecting expert at the bureau, shared his findings with Xinhua Net, stating: “Many drilled rock cores showed visible gold.”

The discovery is significant not just for its scale, but also for the richness of the gold found. When the team drilled down to 2,000 meters, they uncovered ore with a maximum gold content of 138 grams per tonne. Based on these findings, it is estimated that the deposit contains approximately 300 tonnes of gold ore.

The richness and scale of the find have already made it a groundbreaking discovery, one that highlights China’s potential in unearthing significant mineral resources.

Who wouldn’t love stumbling upon $83 billion worth of gold?Getty Images/ Cynthia R Matonhodze/Bloomberg

But the news gets even more exciting. The team believes they can drill even deeper—down to 3,000 meters—and the estimated amount of gold in this deeper section could reach a staggering 1,000 tonnes of ore. Valued at an eye-watering 600 billion yuan (approximately $83 billion), this deposit is nothing short of a game-changer.

Adding to the excitement, Liu from the Geological Bureau suggested that there may be even more gold deposits waiting to be uncovered in the surrounding areas. Peripheral regions of the Wangu field have already shown evidence of additional gold deposits, fueling hopes of further discoveries in the near future.

The site truly seems to be the gift that keeps on giving, with potential beyond what was originally imagined.

Despite how monumental China’s gold discovery is, it still doesn’t quite compare to the buzz around the $540 billion worth of ‘white gold’—lithium—found in California. Lithium, often referred to as ‘white gold,’ has garnered attention for its critical role in powering electric vehicles and renewable energy storage.

A recent study revealed that approximately 18 million tons of lithium could be sitting at the bottom of California’s Salton Sea. Initially, scientists estimated the lake contained four million tons of the element. However, this updated figure suggests the resource could be enough to power over 382 million electric vehicle batteries.

The implications of this discovery are immense, not just for California, but for the global renewable energy market as well.

Oh and if that wasn’t a sweet enough deal already, there’s probably moreGetty Stock Images

If these projections prove accurate, the lithium discovery could make the United States completely self-sufficient in lithium production, eliminating the need for imports from countries like China. Currently, China is the second-largest exporter of electric vehicles, trailing only Germany.

Well, here’s to hoping some untapped fields or lakes in the UK turn out to hold hidden treasures like gold or lithium. Imagine stumbling upon such a find—it would be life-changing! For now, though, I can’t help but feel a little envious and regretful that I didn’t pursue a career in geology.

Gold or lithium, either one would do the trick for me. But alas, the search for such riches will have to remain a dream, at least for now.