Exploration:Uranium Holds the Spotlight - 1979 Annual Review

Despite lower prices and the uncertain future of nuclear power, uranium continued to be the big attraction in 1979 exploration activity. Uranium again dominated exploration programs across the US-not only in primary producing states such as New Mexico and Wyoming, but in potential producing areas from the northern counties of Minnesota to the Grandfather Mountain region of North Carolina. The moratorium on uranium leasing was lifted in Colorado and Montana, and exploration activity intensified accordingly. In Wyoming, what may be the biggest uranium deposit in the state was discovered by Anaconda Copper Co. near Jeffrey City, but in general, there were few major discoveries and activity was concentrated on existing exploration programs. The Department of Energy expects 1979 uranium exploration expenditures to total $339 million, compared to the $314 million spent by industry in 1978. Surface exploration and development drilling in 1979 is estimated at 16.1 Mm, up slightly from 1978 figures. Gold demanded its share of the spotlight in 1979. Soaring prices lured prospectors, investors, operators, and speculators to Alaska, California, Colorado, and Washington in a small-scale gold fever. Exploration for molybdenum remained strong in Alaska, Colorado, and Washington, where mineralization at the Mt. Tolman prospect is now estimated at 816 Mt averaging 0.09% copper and 0.10% molybdenum disulfide. Again this year, one of the major deterrents to exploration was the drive to set aside huge areas of land as wilderness preserves. In Alaska, where Interior Secretary Cecil Andrus has withdrawn millions of acres under the Antiquities Act, BP Alaska decided to close its Anchorage office, reportedly due to the lack of public lands available for mineral exploration. In both geophysical and geochemical activity, the year is best characterized as one of consolidation and development of previous advances in the state of the art, without any fundamental breakthroughs. Many companies were active in the development of instrumentation. Continuing interest in spectral IP resulted in the introduction of two instruments, one by Phoenix Geophysics, the other to be announced shortly by Geotronics Corp. Radiometric and borehole logging equipment received considerable emphasis, reflecting the continued interest in uranium exploration. MINING ENGINEERING'S review of 1979 exploration activity, including state-by-state highlights and a review of geophysical and geochemical activity, begins on the following page.