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Help Identify This Object Found In Colorado......


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My buddy brought this thing back from a gulch in Colorado.  He wasn't having any luck finding gold with is Atgold so he started using his magnet on his pick.  He happened upon this thing. I don't know what to call it yet so it's a thing right now! LOL  Anyway it stuck like glue to his pick but he told me his machine would not hit on it!  I told him he must of had his machine set up wrong.  OK.  So I bring it home and tried my Atpro on it with my already set GB to 80 and not a peep at full power, Pro zero with no disc!  I then lowered my GB to around 60 and there I could get a hit.  It would not hit at the center of the coil but would hit as the coil approached and departed the target with an iron tone.  The Propointer A/T won't peep even touching this thing but yet it is strongly attracted to a magnet!!  It's small and heavy weighing in at 2.7oz. What the heck is it???

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Some magnetite looks like meteorites.  So this is close to invisible to my ATpro unless I manually drop the GB way down.  Then it still gives a funny iron tone.  Anyway if it was intact a meteorite would it then give a positive hit beings it should have some nickel in it?  Also are there meteorites will little to no nickel?  Just trying to get all my facts strait before I tell my buddy it isn't worth $50,000.   LOL 

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Logically, if your specimen is in fact a meteorite with very little or no nickel, it would only be very weakly attracted to a magnet. The fact that it is strongly attracted to a magnet, gives a null response on your detector and has no discernible fusion crust or regmaglypts (thumbprints) points to a terrestrial origin - magnetite. Also, only freshly fallen meteorites are black, and they have a smooth, uniform surface, never broken up and pitted as the surface of your specimen shows. 

Example of a freshly fallen stony meteorite:

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