Risk Aspects Of Exploration Target Selection ? Introduction

An orebody is a mining company's greatest asset; without it there can be no mine. Yet, by the very nature of the industry, orebodies are wasting assets whose progressive depletion must be balanced by continued discovery of new ore to enable both the industry to survive and the raw material demands of society to be satisfied. Although mineral exploration may be viewed as any activity which leads to the creation of investment opportunities in the mineral industry, ultimately new ore can only be generated through discovery. The process leading to discovery may involve a long chain of independent and interdependent events. It will almost always be repetitious and require the examination of many prospects or trials before the goal, a commercially successful discovery, is satisfied. Long term survival of a mining company through regular discovery of new ore, requires a continued commitment of funds and effort to mineral exploration.