Infographic: The Mineral Exploration Roadmap
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The Mineral Exploration Roadmap

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The Mineral Exploration Roadmap

Mineral Exploration Roadmap

There is nothing more exciting than making some type of discovery.

Discoveries can come in many forms – they can be physical, scientific, personal, or even philosophical in nature. But while there are different types of discoveries that can be made, perhaps the most tactile kind of discovery is in the field of mineral exploration.

The discovery of a mineral deposit can transform a piece of “moose pasture” into a new economic asset, and it may enable millions or billions of dollars worth of metals and minerals to be used for human purposes.

These minerals get used all around us – they go into our houses, cars, infrastructure, jewelry, electronics, and they can even be used to power the green revolution.

From Prospecting to Production

Making an economic mineral discovery is the goal of many teams around the world, but these efforts can also be extremely difficult, costly, and time-consuming, and most companies engaged in exploration end up walking away empty-handed.

Today’s infographic comes to us from Orix Geoscience and it shows the steps of mineral exploration, and how teams can maximize their odds of success by using data to add value throughout the process.

Steps of the Mineral Exploration Process

1. Exploration Strategy

Where do you choose to explore? There are two basic strategies:

(a) Working from the known
Deposits tend to form in clusters in prolific belts, and exploration occurs outward from known mineralization.

(b) Working from the unknown
If you review all available information, prospective areas with potential for discoveries can be identified.

2. Prospecting

In this stage, boots are now on the ground – and it’s time to explore the backwoods for showings. Prospectors will stake claims, map outcrops and showings, and search for indicator minerals.

The goal of the prospecting stage is to find the earliest piece of the exploration puzzle: the clue that there is something much bigger beneath.

3. Early-Stage Exploration

Congrats, you’ve found something interesting – and now it’s time to ramp up exploration efforts!

This is where the amount of data and sophistication picks up. In this stage, companies are using existing maps and historical data, geophysics, ground truthing, geochemistry, and trenching to try and identify drill targets.

4. The “Truth Machine”

Geologists don’t call the drill a “truth machine” for nothing.

If you’re target hits, you’re in business. If your target misses, it’s time to go back a step and find new ones.

5. Discovery

Eureka! You’ve found something. Now it’s time to see how far the mineralization goes!

Once you have enough information, you can get an official resource estimate. This data is another puzzle piece that will be crucial as you advance your discovery.

6. De-risking

Even at the best of times, mining can be expensive, risky, and tricky.

That’s why your investors and backers will want you to source even more data – it’ll allow you to see a clearer picture of the deposit, and help your team see how it could take shape as a mine.

At this stage, drilling, metallurgical tests, environmental assessments, 3d models, and mine designs are used to increase confidence in the project.

Data starts to get very granular. Your company may do a Preliminary Economic Assessment (PEA) to assess the potential economic outcomes of a mine. Then after, they may conduct an in-depth Feasibility Study to help make a production decision.

Final Steps

By this point, you may have all the puzzle pieces – a clear vision of the deposit and its potential – to make a decision!

If the puzzle looks good, it’s time to make a production decision, construct the mine, and start commercial production. But the data doesn’t stop there – at these later stages, even more data gets created and it can help you make better decisions.

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Mining

Visualizing the New Era of Gold Mining

This infographic highlights the need for new gold mining projects and shows the next generation of America’s gold deposits.

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gold mining
The following content is sponsored by NOVAGOLD
gold mining

Visualizing the New Era of Gold Mining

Between 2011 and 2020, the number of major gold discoveries fell by 70% relative to 2001-2010. 

The lack of discoveries, alongside stagnating gold production, has cast a shadow of doubt on the future of gold supply. 

This infographic sponsored by Novagold highlights the need for new gold mining projects with a focus on the company’s Donlin Gold project in Alaska.

The Current State of Gold Production

Between 2010 and 2021, gold production increased steadily until 2018, before leveling and falling.

YearGold Production, tonnesYoY % Change
20102,560-
20112,6603.9%
20122,6901.1%
20132,8004.1%
20142,9906.8%
20153,1003.7%
20163,1100.3%
20173,2303.9%
20183,3002.2%
20193,3000.0%
20203,030-8.2%
20213,000-1.0%

Along with a small decrease in gold production from 2020 levels, there were no new major gold discoveries in 2021. Meanwhile, annual demand for the yellow metal increased by 10%, up from 3,651 tonnes to 4,020 tonnes

The fall in production and long-term lack of gold discoveries point towards a possible imbalance in gold supply and demand. This calls for the introduction of new gold development projects that can fill the supply-demand gap in the future. 

Sustaining Supply: Gold For the Future

Jurisdictions play an important role when looking for projects that could sustain gold production well into the future.

From political stability to trustworthy legal systems, the characteristics of a jurisdiction can make or break mining projects. Amid ongoing market uncertainty, political turmoil, and resource nationalism, projects in safe jurisdictions offer a better investment opportunity for investors and mining companies. 

As of 2021, seven of the top 10 mining jurisdictions for investment were located in North America, according to the Fraser Institute. Here’s a look at the top five gold-focused development projects in the region, based on measured and indicated (M&I) gold resources: 

ProjectM&I Gold Resource, million ounces*Grade (grams/tonne)Location
KSM88.4Moz0.51g/tBritish Columbia 🇨🇦
Donlin Gold**39.0Moz2.24g/tAlaska 🇺🇸
Livengood13.6Moz0.60g/tAlaska 🇺🇸
Côté Gold13.6Moz0.96g/tOntario 🇨🇦
Blackwater11.7Moz0.61g/tBritish Columbia 🇨🇦

*Inclusive of mineral reserves. **See cautionary statement regarding Donlin Gold’s mineral reserves and resources.

Located in Alaska, one of the world’s safest mining jurisdictions, Novagold’s Donlin Gold project has the highest average grade of gold among these major projects. For every tonne of ore, Donlin Gold offers 2.24 grams of gold, which is more than twice the global average grade of 1.03g/t. 

Additionally, Donlin Gold is the second-largest gold-focused development project in the Americas, with over 39 million ounces of gold in M&I resources inclusive of reserves. 

Novagold is focused on the Donlin Gold project in equal partnership with Barrick Gold. Click here to learn more now

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