PHASE 1 – TARGET GENERATION
- Commodity selection – market analysis, trends, demand
- Location – Geological Province/Country/Region/Area
- Entry Level – Grassroots Exploration/Joint venture/Buy in/ Strategic Alliances
PHASE 2 – DESKTOP STUDIES
- Minerals Legislation – Country/Provincial
- Licence Application (Government Ministry of Mines/Minerals - Regional/Reconnaissance/Prospecting
- Company Registration (Local expeditor, Legal)
- Geological Information
- Geological map coverage (Geological Survey - digital/hardcopy)
- Geophysical coverage (Private and Geological Survey - airborne/ground - digital)
- Remote sensing coverage (Geological Survey and Private - aerial photography, satellite imagery, Digital Terrain Modelling)
- Previous exploration activity and research (Geological Survey, institutions, Government Departments e.g. Ministry of Mines, Water Affairs)
PHASE 3 – FIELDWORK
- Geological Mapping, Sampling and Assessment, including follow up (Operators Team/Contractor – Geologists, Field Technicians)
- Geophysics (Contractor - Airborne and Ground)
- Test Drilling (Contractors)
PHASE 4 – FOLLOW UP
- Drilling – Delineation of the orebody
- Environmental Base line studies
- Impact on local social and environmental issues
PHASE 5 – FEASIBILITY
- Ore Reserve calculations
- Metallurgical Testwork/Bulk Sampling
Mineral Exploration is an extremely high risk and expensive business. The industry relies on the pockets and faith of its shareholders to make that elusive “find” that will make returns worthy of the investment. The above flow sheet could take several years to reach feasibility, and it may even take several years to reach the follow up phase. Therefore it is critical that at each phase of the program, “go – no go decisions” are required to ensure that funds are not wasted, but are rather used in other efforts.
