Exploration Philosophy and Future Trends

Projections of metal requirements for Japan and the United States indicate growing competit- ion for Australia's mineral output and a critical need for continuing discovery of new reserves. These projections may be modified by economic, social and political controls - the most import- ant factor probably being a shortage and the high cost of risk and development capital. Changing ownership patterns toward joint ventures and increased state participation are anticipated. New developments in global tectonics and metallogeny delineate favourable zones for ex- ploration and permit establishment of priority search areas even in regions of poorly known geology. Declining ore grades and special character- istics to meet technological requirements may modify identification and evaluation criteria. A broad approach considering all environments of concentration within the geochemical cycle is re- quired within any metallogenic province. The exploration geologist must be able to integrate geological theory, mining technology and financial analysis to establish well defined exploration objectives, in terms of economic and geologic models, in concept-oriented programmes.