Ireland is usually better known for its medieval treasures and artifacts than its natural deposits of precious metals. However, geologists have found that there is actually much more gold and platinum in Ireland's streams and rivers than was previously imagined. Most of these discoveries were concentrated in the countries of Wicklow, Wexford, and Waterford.
There are several regions of the country where it was already known that considerable amounts of gold were deposited. These include the aptly named Goldmines River and the Wicklow Mountains, which is also cut by a waterway. The Geological Survey of Ireland reconfirmed the presence of gold in these areas.
Similarly, the County Waterford was shown to have several streams containing "high gold values" in the Dungarvan to Stradbally areas. This backed up the local nickname for the region, the "Gold Coast."
The Geological Survey's report also noted that "new data identifies high gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be a source for the gold mineralisation in the region.
Irish Gold Rush?
According to Irish law, only licensed companies can actually extract significant amounts of the precious metals from the ground or using any motorized equipment. However, people can freely pan for a few grams of gold for recreational purposes. These are considered "souvenirs," and can only be sold with the permission of the government.
Nonetheless, on a larger scale, the discovery of platinum and gold could attract mining companies to operate in Ireland for the first time.
The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.