Hot pools development unearths NZ’s largest gold nugget, worth over $1m

1st April 2026 By Staff Reporter | news@tourismticker.com | @tourismticker

Contractors have uncovered what is believed to be New Zealand’s largest recorded gold nugget during excavation work for a new Queenstown attraction.

The 3.8kg nugget is estimated to be worth more than $1m. Image: TIG

The 3.8kg nugget, estimated to be worth more than $1m, was uncovered at a depth of approximately 1.2 metres during initial benching works for Tourism Innovation Group’s boutique hot pool project.

If verified, it would surpass the long-standing national record set by the 3.09kg “Honourable Roddy” nugget found on the West Coast in 1909.

TIG co-founder Nigel Hobbs said the discovery was completely unexpected.

“We’ve already had a number of enquiries, including a private investor looking to purchase the nugget. At this stage, we haven’t made any decisions — it’s a bit like winning Lotto,” he said.

A Queenstown-based gold valuation specialist, who has inspected early images of the nugget, said: “If authenticated at that weight and purity, this would comfortably be one of the most significant modern finds in New Zealand.”

(l-r) TIG co-founder Nigel Hobbs and Bruce Grant with the nugget. Image: TIG

TIG has partnered with fifth-generation landowners the Grant family on the attraction, which will have 10 private hot pool sites along a north-facing hillside overlooking Lake Johnson and Coronet Peak, just minutes from Frankton.

Bruce Grant said stories of gold in the surrounding hills had been passed down through generations.

“My great-grandfather always maintained there was gold in these hills,” he said.

“Over the years there have been small finds, but nothing even close to this scale. It’s pretty surreal and it definitely makes you wonder what else might be up there.”

The discovery has prompted further geological investigation, with TIG engaging a geologist to assess whether additional deposits may be present on the site.

A rendering of TIG’s new attraction, slated to open in April 2027. Image: TIG

Security has also been increased after reported interest from both local prospectors and international collectors.

Despite the discovery, the development timeline of the attraction remains unchanged, with the recently started earthworks expected to be completed within three months.

TIG is targeting an April 2027 opening for the new hot pools.

“The project itself is something pretty special — the location, the design, and the sustainability focus,” Hobbs said.

“The gold find has just added an unexpected layer of intrigue.”