What is prospecting? Prospecting is defined as the search for an ore body while exploration is defined as the activities of evaluating a geologic prospect to determine the ore size, shape, grade, and profit material.
So the factors to consider in prospecting was how big is the ore, what does it look like, it it high grade, will we profit from it?
The men conducting prospecting and exploration should be well versed in the science of geology and geophysics. One should have a fundamental knowledge of physical geology, rocks and minerals, structural geology, and mineral deposits.
Most mineral deposits mined for their economic values are geologic anomalies.
Scarcity.
What is economic discovery? An ore deposit with an estimated revenue of 20M with a return rate at least 10%.
What I'd significant discovery? A deposit that will yield more than 500
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