"If grade is king in the goldmining industry then a small...

"If grade is king in the goldmining industry then a small Australian explorer called Goldstar Resources is in the running to claim the crown. Late last year it reported a drill-core hit assaying a whopping 285 grams a tonne, more than nine ounces a tonne when converted to the old imperial measure. True, that assay was across less than half-a-metre of ground, and true, it probably represented the drill bit passing through a nugget. But, that’s the whole point about Goldstar’s Walhalla project in the hilly country of eastern Victoria. This is a part of the world where gold comes in nuggets, it’s the very reason the oldtimers tramped for nine days from Melbourne with their bullock drays to make their fortunes, and why their record of production up to 1914 looks like this: 1.5 million ounces from 1.4 million tonnes – better than an ounce to the tonne, and surely enough to make even the most cynical of observers recognise that Walhalla is a lot more than your average Australian gold project."

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