Millions of dollars in gold silver sitting under New Zealand volcanoes

Millions of dollars in gold silver sitting under New Zealand volcanoes

US and New Zealand researchers recently  found massive gold and silver deposits in reservoirs underneath a volcanic range on New Zealand. Project researcher Stuart Simmons told Quartz that find could be worth between $50 million and $250 million, though that is speculation. As Simmons explains:

Taupo Zone [is]…similar to Yellowstone National Park in the US, volcanic magma enriches underground water with heat, chemicals, and in some instances, precious metals.

 The steam from the area’s hot springs is used as a source of geothermal energy, Simmons explained, and when the hot water moves toward the earth’s surface, it is sometimes caught in the pipes of geothermal production wells—which are designed to generate power from hot water in the earth. Over time, thin films of silver and gold build in the pipes of these wells.
Researchers want to extract the gold, although Simmons said there has not been enough to research to form the basis of a mine. Further more, in order to extract the gold from the hot springs, new mining techniques would have to be used.

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.


Precious Metals Data, Currency Data , Precious Metals Automated Product Pricing Powered by nFusion Solutions