12-pound gold nugget found in Austrailia

An Australian man has found a 12-pound gold nugget in a town known for a gold rush in the 1850s.

The prospector, whose name is not being revealed for privacy reasons, discovered his find in an area of Austrailia known as the "Golden Triangle," near the town of Ballarat, Reuters reported.

Ballarat Mining Exchange Gold Shop owner Cordell Kent told Reuters that the man came into his store and weighed the Y-shaped nugged. It measured 8.7 inches long and 5.5 inches wide, and came in at over 12.1 pounds. The man said he found the giant rock using a metal detector.

Kent added to CNN that the finder is still looking for more and believes that there are bigger gold treasures still to be unearthed.

Experts told CNN that the nugget is worth at least $300,000.