While we previously saw a test run of the Buried Treasure event in Lord of the Rings Online, Turbine's put forth a dev diary that indicates we should be seeing more of it fairly soon. The event challenges players to flock to a treasure field, grab some picks, and get diggin' for booty. There's a strategy behind it that utilizes trained animals and dowsing sticks to find the best goods, although treasure hunters can just start digging randomly as well.
The treasure will vary in size and quality, ranging from special mounts and cosmetic gear to more picks and barter tokens. While players can earn picks in-game through a repeatable quest, Turbine will also be selling them through the LotRO store for those who want to speed up their winnings.
The dev diary posted several pictures of the nifty rewards that can be mined and states that the event is "seasonally agnostic," coming and going at various times during the year.