Video: Australian gold rush after 5.5kg nugget found in Victoria The man, who wants to remain anonymous, located it with a metal detector in Ballarat, in the state of Victoria. It has not been revealed exactly where the nugget, which weighs 177 ounces was found but Ron Wheaton at Ballarat Goldfields outdoor museum says it is likely there is more gold in the region. "If you research where the gold has been in the past, yes, there's gold to be found in Ballarat," said Mr Wheaton Cordell Kent, owner of The Mining Exchange Gold Shop in Ballarat, who is is selling the nugget on the finder's behalf, sais it was one of the most significant in his 20 years in the business. "It will sell for more than gold price because it is a unique collector's specimen," he said.