LZ1 is 500m (1,650ft) wide and was first identified by days ago by Scottish-Australian astronomer Rob McNaught at the
Research School of Astronomy and Astrophysics of the Australian National University.
"Once in awhile one will come out of nowhere like this one, which is actually pretty big," said Patrick Paolucci, president of the skywatchers' site Slooh.
"We were like, 'Wow, we should track this one.'"
The asteroid qualifies as a near-Earth object because of its size and proximity - more than 500ft (152m) wide and within a distance
of 4.65 million miles (7.5 million kilometres) from Earth.
Mr Paolucci said the asteroid's fly-by would be broadcast in real-time with footage from an observatory in the Canary Islands
at Slooh.com beginning at midnight GMT on Friday.
LZ1 will pass close to Earth, but is not considered a potential danger.
Image credit & copyright: Mopic/Shutterstock.com
Due to its size and proximity to Earth, LZ1 qualifies as a "potentially hazardous" near-Earth asteroid, but there is no need to worry.
Our planet is not in danger of being struck and asteroid flybys are not an uncommon occurrence.
You can also follow the asteroid's approach through NASA's Near Earth Objects program. The table shows future and past
NEO close-approach data, including uncertainties.
Abnormal Star Discovered In The 'Forbidden Zone'
A team of astrophysicists from Germany, France and Italy have discovered in the constellation Leo is an old star.
The star's existence raised at once many questions for scientists.
The object is definitely not as its "contemporaries" that appeared immediately after the Big Bang event.
Tremendous Explosion And Appearance Of Odd Rings
Twenty five years ago, on 1987 February 23, the brightest supernova of modern times was observed in the Large Magellanic Cloud.
The collision occurred at speeds near 60 million kilometers per hour and shock-heats the ring material causing it to glow.
Over time, astronomers have watched and waited for the expanding debris from this tremendous stellar
explosion to crash into previously expelled material.
Violent Dragon Clash Billions Of Years Ago
NGC 5907 is sometimes called the "Splinter" or Knife Edge Galaxy because of its unusual appearance.
It is a spiral galaxy lying in the Dragon constellation,
about 40 million light-years from Earth that could have been formed through a gigantic collision of galaxies, 8 to 9 billion years ago.
The "Cloaked" Star Was Difficult To Find
An object obscured by dust, and buried in a two-star system enshrouded by dense gas, is not easy to find.
A "cloaked" star was discovered after it ate a little of its neighbor. The meal must have given the star a bit of indigestion, because it
"burped" with a blast of high-energy radiation, which gave it away.
First Discovered Carbon-Rich Planet: Could It Harbor Life?
WASP-12b is the first carbon-rich world ever observed. It is an extremely hot and large gas giant orbiting another star and it has unusual amount of carbon.
Carbon is a common component of planetary systems and a key ingredient of life on Earth.
Does it mean some kind of life might exist on WASP-12b?
Invader From Another Galaxy
This alien intruder from another galaxy is in many ways different from other exoplanets observed by astronomers.
Located about 2000 light-years from Earth in the southern constellation of Fornax (the Furnace), the Jupiter-like planet orbits a dying star of
extragalactic origin and risks to be engulfed by it.