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Source: Reuters -
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A Southland gold prospector claims that there is still plenty of the precious metal in the South Island.
However, Henry Geerling says much of it is either in protected or very remote areas.
His claims come as the international price of gold reached a record high of $US1,110 an ounce on Tuesday.
Geerling pulled a 275 gram nugget from the Arrow River three years ago but is coy on where the good gold prospecting sites are.
Commercially, he says operations are active in the Central Otago and Southland area.
One of those operations, NZX listed Oceania Gold, on Tuesday announced an increase the life of its Macraes mine in Otago by four and a half years.
It also said its mineral inventory has increased 42% from December last year.
The mine has produced more then 2.5 million ounces of gold since 1990.
