SHANGHAI, Aug 28, 2011 (Dow Jones) -- China's Qinghai province has discovered a gold deposit that has inferred gold reserves of 300 metric tons, or 9.65 million troy ounces, the People's Daily reported Monday.

Six smaller gold deposits were discovered at the same time, with combined proven reserves of 430 tons and a combined inferred reserves of 700 tons, the newspaper said, citing the province's department of land and resources.