Linking Mineral Deposit Models to Quantitative Risk Analysis and Decision-Making in Exploration

Discovered and undiscovered gold endowment of Turkey: a quantitative mineral resource assessment using GIS and rank statistical analysis

“…However, the probability of success in mineral exploration is generally very low due to the attendant high geological uncertainty. For investors, exploration managers, or government agencies there is no robust method that can improve the chance of technical and financial success in a cost-effective manner in mineral exploration (Potma et al 2008;Kreuzer et al 2008). In general, chances of success in exploration are tiny; available statistics suggest that a success rating of <0.1% is the norm and only in favorable circumstances will this rise above 1% (Moon et al 2006).…”

Comparing prospectivity modelling results and past exploration data: A case study of porphyry Cu–Au mineral systems in the Macquarie Arc, Lachlan Fold Belt, New South Wales

“…In this approach, the critical processes acting together to form mineral deposits are (Hronsky, 2004;Knox-Robinson and Wyborn, 1997;Kreuzer et al, 2008;Lord et al, 2001;McCuaig and Hronsky, 2000;McCuaig et al, 2010;Porwal and Kreuzer, 2010;Wyborn et al, 1994):…”

“…The mineral systems approach is essentially a probabilistic concept in that if the probability of occurrence of any of the critical processes becomes zero, then no deposit will be present (Kreuzer et al, 2008;Lord et al, 2001;McCuaig et al, 2010). By integrating mineral systems models into a probabilistic framework a prior probability of success can be calculated for discovery of a potentially economic mineral deposit in an area.…”

“…By integrating mineral systems models into a probabilistic framework a prior probability of success can be calculated for discovery of a potentially economic mineral deposit in an area. This thinking has been applied to valuation of exploration programs (Lord et al, 2001), development of targeting decision and ranking tools (Kreuzer et al, 2008), economic risk analysis (Partington, 2010), and prospectivity analysis (e.g., González-Álvarez et al, 2010;Joly et al, 2012;.…”

From 2D to 3D: Prospectivity modelling in the Taupo Volcanic Zone, New Zealand

“…2). The essential geological components that define a mineral system are (Wyborn et al, 1994;Knox-Robinson and Wyborn, 1997;Lord et al, 2001;Hronsky, 2004;Kreuzer et al, 2008;McCuaig et al, 2010;Joly et al, 2012): a source of energy that drives the system; sources of fluids, metals and ligands; pathways along which fluids can migrate to trap zones; trap zone in which fluid flow can be focussed and its composition modified; and outflow zones for discharge of the residual fluid.…”