A mining company claims to have found the largest gold deposit ever discovered in Britain and Ireland, according to the London Times.

Richard Conroy, founding chairman of Ireland-based Conroy Diamonds and Gold, reportedly said more than 1 million ounces of gold may lie beneath a village in Ireland's County Monaghan countryside — close to the country's northern border.

The gold reserve is reportedly worth close to $900 million.

But the discovery is not expected to spark a massive gold rush, lawmakers say, because the most concentrated gold deposits lie hundreds of feet underground, which makes it government property, the Daily Mail reported.

Click here to read more from the London Times.

Click here to read more from the Daily Mail.