Police confirmed the bone, found by a man walking along a levee bank under construction, was human but said initial forensic examination suggested it was the remains of an ancient indigenous person.

Chifley Police District crime manager Detective Chief Inspector Luke Rankin said police could confirm the bone found on Monday was a human jaw bone but investigators did not believe it was related to any of the contemporary missing persons cases in Bathurst.

Chief Inspector Rankin said police had made inquiries with a forensic anthropologist, with initial analysis indicating it was an ancient bone.

He said police attended the scene, spoke with witnesses and conferred with the forensic expert at the Coroner's Court.

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"The interim view is it is an ancient indigenous bone but, to be abundantly cautious, investigations [into the find] will continue," he said.

Bathurst mayor Bobby Bourke said council had been notified of the find late on Monday afternoon.

He said he understood the jaw was found by a man who lived nearby while out walking alongside the levee bank.

He said the man showed his mother, who was a nurse, before taking the bone straight to police.

He said police would now conduct a full investigation into the find.

Cr Bourke said council workers stopped work immediately at the site following the find, enabling police to investigate.