MINERAL RESOURCES OF THE PH (FUNDAMENTALS OF EXPLO) Flashcards
In chornological order what is the steps in the life cycle of a mineral deposit?
Mineral epxloration - feasib study - mine devt - mining - mineral processing - smelting - refining - marketing - closure
What is Mineral exploration and fesib study? what’s their difference?
Mineral explo is to discover mineral deposit while feasib study is conducte to prove its commercial viability
What is mine devt and mining? what’s their difference?
Mine dev’t is establishing the entire infrasturtcure and technology while Mining is the extraction of ore from the groun
Differentiate Mineral processing, smelting and refining?
Mineral processing is the milling of the ore, separation of the gangue minerals, separation of ore minerals into concetrates and separation and refinement of industrial mineral products, Smelting is the recovery of metals from the concentrates, and refining is simply the purification of metals
What are the steps of exploration?
Study phase, Reconnaisance Phase, Target testing, Pre-feasib and fesib study
Study Phase
1) Choosing a potential target; 2) Study demand supply, commodity price, available markets 3) estimate exploration cost and drawup budget
Reconnaissance phase
1) RRL: literature then resmote sensing and aerial photos; 2) selectrion of favorable areas; 3) initial field reconnaissance 4)land acquisition; 5) general airborne surveys, geological mapping and prospecting; 6) general geochem and geophy surveys with limited drilling
Target Testing activities
1) Detailed geol mapping; 2)Detailed geophysical and geochemical surveys; 3) trenching, pitting and dirlling
Prefeasib activities
1) Major sampling and test work programs including mineralogical exam; 2) Pilot plant testing to ascetaiin viability of mineral processing and its recoverability; 3) Evaluation of various options and possible combinations of tech and business issues
Feasib study phase
1) continuation of drilling assasying, mineralogical and pilot plant testing 2) Feasib study confirms and maximizes the value of the preferred technical and business option identified in pre feasib stage
duration of study phase and cost
US$ 0.25M, 1-2 years
duration of reconnaisance and cost
US$ 0.5-1.5M, 2 years
duration of target testing and pre-feasib
US$ 2.5-50M, 2-3 yrs
duration of feasib study and costs
US$ 2.5-50M, 2 years
Factors governing the coice of exaploration areas
1)Location - acccessibility and suitability of yhe location for mining activities 2)Sustainable devt- exploraton geologists must not only prove projects to be viable but at the same time socially, politically and if not, environmentally acceptable; 3)Taxation - Mines have limited life and therefore should not be taxed in the same manner as other commercial undertakings; 4)Political Factors - political unrest may incrase risk of investing in certain countries.
This is an institution which publishes annual review of investment attractiveness of many countries and regions basend on a poll of mining company exces
Fraser Institute, Vancouver
What are the common misunderstood realities about exploration/mining?
1) orebodies are wasting assests 2)orebodies are not evenly distributed the crust
what does farming mean in mning?
The idea of allowing others to buy into the discoveries of an exploration company
Why is it, despite of risks, many companies still invest in exploration?
Because successful mining can provie higher proftability than can be obtained from other industrical ventures
Which is more favorable for large international companies?
High quality deposit of good address or for remote locations, hundred or million tonnes of high grade resource or even greates tonnes of near surface lower grade materials. High unit value industrial minerals
