Ranchi, Jan. 30: Tamar promises to be a veritable goldmine with deposits of the yellow metal surpassing 7 million tonnes, Geological Survey of India (GSI) explorations have revealed, a finding which may be a windfall for the state.

Currently, prices of gold have soared across the world. In India, 22-carat prices are hovering around Rs 28,000 per 10gm.

At a meeting of Geological Programme Board today held at Nepal House, GSI deputy director G.K. Gupta said Tamar was crucial to scientific exploration of gold.

“The Centre has granted top priority to exploration in Jharkhand,” he said. “Tamar in Ranchi, Chandil in Seraikela-Kharsawan and Potka in East Singhbhum are key sites to hunt gold deposits, but Tamar seems to be the forerunner.”

In 2007, exploratory works in Tamar had established gold deposits of more than 2.68 million tonne at three hamlets — Lungtu, Parasi and Sindauri — but numbers are now around three times higher, thanks to more intensive projects.

GSI director R.K. Prakash said geo-chemical mapping of the Subernarekha river basin was in progress to identify various mineral deposits, including gold. Results of these explorations will give a fillip to agriculture, forestry and environment, he added.

Jai Prakash Singh, director, mines, as well as secretary of Geological Programme Board, said that during the current fiscal, exploratory works started in 10 zones of Jharkhand.

“Two explorations, one in West Singhbhum for limestone deposits and the other in Santhal Pargana to locate bauxite, had to be abandoned due to trouble-mongers in the areas. But the twin setbacks should be temporary. Otherwise, work is complete at E&D coal block in Latehar, which has been allotted to Tenughat Vidyut Nigam Ltd (TVNL), a complete geological report of which will be handed over to TVNL in February first week,” Singh said.

Exploration is also on in Garhwa district to identify phosphorite deposits.

Singh pointed out that for 2012-13 fiscal, exploratory jobs would be carried out in 18 different places to locate magnetite, limestone, kyanite, granite, phosphorite, iron ore and manganese deposits in the state.

He added that the sale of geological reports had already earned the state Rs 9 lakh. But it is chickenfeed compared to what it may earn from the goldmine in Tamar.