Meaning of Lasseter's reef in English:

Lasseter's reef

Pronunciation /ˌlasətəz ˈriːf/

noun

informal Australian
  • A very rich source of something, especially when elusive or mythical.

    • ‘PC users have stumbled upon a Lasseter's reef of communications possibilities’
    • ‘The suspicion that out there among the coral reefs there lies a Lasseter's Reef of oil has meant the search went on.’
    • ‘A Lasseter's Reef like discovery of 700,000 ounces of high grade gold in an area so remote the prospectors never really got to it.’
    • ‘This is as close to finding a Lasseter's reef that you could get.’
    • ‘They would not have traded this Gospel for a thousand Lasseter's reefs!’
    • ‘Earn it, exchange assets for it or mine it and short of finding Lasseter's Reefs everywhere, gold would quickly have a steady value in exchange.’

Origin

1930s from the name of Lewis Herbert Lasseter (born Harold Bell Lasseter) (1880–1931), an Australian prospector who, in 1929, claimed to have discovered a huge gold-bearing reef in central Australia which has never been found.