A GROUP of New Zealand school children have found the remains of what is believed to be a 40 million-year-old giant penguin, a report said.

Had the species of penguin survived to the present day it would have looked "many men in the eye," the Waikato Times report said Saturday (Feb 17).

The remains were found last month near Kawhia, on the west coast of the North Island, by children looking for fossils for a nearby natural history museum.

"I went 'Oh my God,' and just about keeled over on the reef," group leader Chris Templer recalled saying when several bones were seen sticking out from a sandstone platform uncovered by the tide.

Alan Tennyson, curator of fossils at the Museum of New Zealand in Wellington, said the find could be internationally significant.

"It's a very rare event to find such a well preserved specimen," he said.

Bones from the largest ancient giant penguin, found in New Zealand more than 130 years ago, indicate the bird stood about 1.5 meters tall and weighed more than 100 kilograms.

Editor: Wing