VIDEO: Prospector makes $285,000 gold discovery

Ballarat Gold Show owner Cordell Kent with the nugget found. PICTURE: KATE HEALY
Ballarat Gold Show owner Cordell Kent with the nugget found. PICTURE: KATE HEALY

A 177 ounce gold nugget has reportedly been unearthed near the south-west Victorian town of Ballarat.

A video of the nugget has been posted on multimedia sharing site YouTube and claims the nugget was found with a hand held metal detector at a depth of 60cm.

At the current Australian gold price of almost $1600 per ounce, the nugget could be valued at nearly $285,000.

The nugget, named Destiny, weighed 3.66kg and was discovered in the Golden Triangle region of Ballarat, Bendigo and Stawell.