An unidentified armature explorer has unearthed a 5.5 kilogram incredibly rare golden nugget that is estimated to be worth about $300,000.

He made the prized discovery in the ground outside Ballarat, which is situated not far from Melbourne city in Victoria. Experts said that the region has been known for discovery of gold, but advanced technology is now playing a leading role in enhancing such discovery missions.

It is believed that the explorer used a Minelab GPX Model 5000 metal detector to find the gold piece in the ground. Some believe that the collectors might already be looking to acquire the piece of gold because of its rarity.

The owner of the Mining Exchange Gold Shop said that the person who discovered the nugget is already back at work and he does not wished to be identified. Only four persons know about the discovery and where it was made. He also said that the explorer believes that thepiece he has found now is a small piece as there are bigger ones to be found in the area.