The Occurrence Model Of Mineral Wealth

The enthusiasm with which individuals have participated in mineral exploration in the development of this country testifies to the fact that there was once a very real probability of making a worthwhile discovery. Over the years, the discovery and subsequent exploitation of the accessible ore deposits have made the finding of new deposits progressively more difficult. Present day mineral exploration has evolved from the lone prospector with the grubstaker behind him to a very costly and complex business, involving large sums of money and a staff of experts in the fields of exploration technology. Exploration today must be carried out on a large scale to be profitable. With the involvement of large amounts of capital, there has been a good deal of interest in methods of optimization of the allocation of the resources of a firm 'engaged in mineral exploration. As a step toward this, mathematical models have been formulated which are designed to quantify those variables of mineral exploration in such a manner that they can be integrated with all phases of the firms operations so as to optimize its profit objective or more simply, to make exploration more efficient and effective.