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By Ralph W. Edie

"IntroductionTHIS PAPER presents some analyses of diabases from a number of metallogenic provinces in Canada and the United States. It is intended as a contribution to the literature on the genesis of mineral deposits associated with diabase.As it has been in the past, opinion today on the origin of the cobaltnickel- native silver and associated pitchblende type of deposit is sharply divided. Some geologists hold that this type of deposit is in some way genetically related to intrusive diabase; others are of the opinion that the deposits are related to granite. The controversy, like others of a similar nature, probably will not be settled satisfactorily for many years to come, •but in the meantime it is recognized that, with respect to most deposits of the type referred to, altogether too few facts are known for accurate conclusions on genesis to be drawn. To contribute in a small way to factual data on this whole .problem, the writer analyzed diabase from several districts in Canada in which deposits of the aforementioned type occur. For comparative purposes, the copper, cobalt, and nickel content of diabase from Cornwall, Pennsylvania, and of norite from the Sudbury basin of Ontario, was also determined.Insofar as is known, none of the analytical work undertaken had been previously carried out."

Jan 1, 1953

By J. S. DeLury

The last few years have been eventful ones for Manitoba in connection with mineral development. Perhaps the past year has been the most important of all. It is therefore a suitable time to review the mining situation in the Province. In order to obtain, in the following paper, a proper set ting from which to discuss the trend of recent developments, a brief review of the story of mining will first be given. This will include a summary of a few of the outstanding facts regarding prospecting, discovery, and operations in the several known metalliferous areas of the Province. Following this will come a more detailed description of activities during the past year or two. Special attention will then be paid to the outstanding enterprises, such a~ those associated with the names of Flin Flon, Sherritt-Gordon, and Central Manitoba, names which have been attracting the attention of the mining world to Manitoba. And last of all will be presented a brief summary of mineral production, which, so far, has largely been credited to non-metallics. HISTORICAL To aid a proper comprehension of the recent trend in mining, it is well not to lose sight of the history of development in the different metalliferous areas in Manitoba. This Province seems throughout to have been more or less dependent on mining interest excited by discoveries in the neighbouring province of Ontario. The first interest came as an effect of the Lake of the Woods mining boom, when small adjacent parts of Manitoba were prospected. Several discoveries were made, but no mining industry resulted.

Jan 1, 1929

By D. J. Zuliani

A mass and energy balance for a modern electric arc furnace ("EAF") indicates that about 70% of the process energy losses are contained in the off-gas as chemical energy in the form of uncombusted CO and H2 and as thermal energy. Given the magnitude of the off-gas energy losses, improved EAF energy efficiency needs to focus first on controlling furnace practice to maximize "in-EAF" energy utilization and second, on recovering residual energy in the off-gas existing in the fume system. This paper focuses on the application of off-gas analyzers, sensors and process models to control and optimize "in-EAF" energy utilization efficiency. The paper will also discuss the application of heat recovery technology to EAF steelmaking.

Jan 1, 2015

By C. Joulian, A. G. Guézennec, A. Chmielarz, Y. Ménard, M. Hanke, P. d’Hugues

"The copper concentrate used in this study is produced by flotation of a black shale organic rich ore. This resource is a carbonate-rich, polymineral concentrate. In the last 5-6 years, ore characteristics changed and the concentrate grades degraded. This study evaluated bioleaching of the concentrate in stirred tank reactors as an alternative to the pyrometallurgical technology that is currently applied, and which may no longer be feasible in future given the concentrate chemistry.The first part of the study focused on testing non-traditional operating conditions during continuous bioleaching experiments: high solids concentration (> 20% solids), reduced agitation and aeration rates. For the same residence time, bioleaching performance at high solids loading (25%) was the same as that reached during previous bioleaching experiments at 15% solids. No mixing or microbial issues were encountered. The bacterial consortium used in the experiments demonstrated a high copper tolerance.The second part of the study was devoted to technology development for metal recovery from copper bearing solutions obtained during bioleaching experiments. Due to the high copper concentration of the leachate, solvent extraction prior to electrowinning was not necessary. After iron removal, high quality copper cathodes (morphology and composition) were obtained from the PLS by electrowinning."

Jan 1, 2014

By Sanat Talmaki

Construction and mining worksites pose unique challenges to workers and equipment operators due to their dynamic and unstructured nature. Narrow haul roads, crowded work spaces and presence of workers and equipment in close proximity, combined with large blind spots and overall poor visibility afforded to operators lead to collisions and run-over-type accidents between equipment, workers, and other entities that may be present on the jobsite. Operations that involve machine-infrastructure interaction, particularly in the case of concealed infrastructure such as excavation and drilling lead to unintended strikes between the equipment?s end-effect or and the infrastructure. Such accident-prone scenarios can be avoided by providing operators with real-time feedback and warnings using 3D visualization and proximity monitoring of the entities present in the equipment?s vicinity. Thus the jobsite in the real world is abstracted and represented in a 3D virtual world. However, this requires the ability to create a seamless link between real-world sensors present on the equipment and/or the jobsite and the virtual environment. This paper describes a non-restrictive acquisition allocation framework that allows position and orientation sensor streams from construction and mining job sites to be used for updating 3D virtual scenes in real-time for providing vital collision avoidance warnings to equipment operators.

Aug 1, 2013

By W. K. Smith, V. P. Krueger, D. C. Mulder

"AbstractThis paper describes the geological procedures used to evaluate two mineable high-volatile C bituminous coal seams at Coal Valley , located in the outer foothills belt of the Rocky Mountain Eastern Slopes in west-central Alberta. Lexco Testing Ltd., the exploration arm of Luscos: Ltd., owns and operates an all -weather geophysical logging system which provides gamma, focused density , single-point resistance and caliper logs in a single pass. A mathematical analysis for a theoretical interpretation of the single-point resistance log confirms empirical research that bed boundaries are located at a point 10% from the bottom of the curve. A unique and efficient triple-tube, wireline rotary coring system cuts an undisturbed 0.076m- diameter core in a plastic liner at recoveries exceeding 90% . Although only 10% of the total footage is cored, it provides vital analytical and geotechnical data, and, when integrated with the geophysical logs, improves the quality and extends the usefulness of interpreting both sets of data. All data are programmed to produce computerized structure contour, isopach, isoratio and isoquality maps, and volume calculations.General IntroductionTHE COAL VALLEY AREA is located in the outer foothills belt of the Rocky Mountain Eastern Slopes, 60 miles (96 km) by road southwest of Edson, Alberta. Luscar Ltd. holds leases which total 49,000 acres (19,830 ha) , of which 18,300 acres (7,410 ha) have been assigned to the Coal Valley mine area (Fig. 1 ) . There are two Paleocene high-volatile C bituminous coal seams initially developed for mining within a total stratigraphic interval of 750 feet (230 m ) (Fig. 2 ). These seams strike generally NW, and in the undisturbed areas generally dip westerly from 10 to 30 degrees."

Jan 1, 1977

By Mostafa Benzaazoua, Emilie Ré, Raphaël Mermillod-Blondin, Hassan Bouzahzah, Jean-François Wilhelmy, University of Québec in Abitibi-Témiscamingue

"We analyzed two copper and lead flotation concentrates from the LaRonde mill using MLA technology (Mineral Liberation Analyzer) to identify the contaminants and to quantify their size and liberation. The MLA mineral quantification was compared with traditional mineralogical techniques (Scanning Electron Microscopy, Optical Microscopy, X-Ray Diffraction and Chemistry). The accuracy of MLA data was then quantify in application to metallurgical decision (mineral identification, mineral quantification, particle sizing and liberation quantification). We prepared five well-known materials from pure minerals and analysed them by MLA. MLA concentrates analyses showed the lead concentrate is mainly contaminated by pyrite and sphalerite. These minerals are liberated above 70 % and present a floatable size around 15 to 35 µm. Surface activation by dissolved lead from galena is therefore assumed for these contaminants. The analyses of the known samples show that mineral quantification and size distribution given by the MLA are consistent with the chemical analyses and the laser particle sizer. The liberation measurement is affected by the stereological effect. Modelling quantifies the overestimation of the particle liberation. Based on the modelling, the stereological shift on liberation should not impact metallurgical conclusions on the concentrate contaminations.INTRODUCTIONTo face the diversity of mineral processing challenges, the process mineralogy includes phase quantification, measurement of mineral size, liberation by exposure and by grade, association, surface contact proportion and texture. In the last decades, two SEM commercial tools emerged: MLA and QEMSCAN R. Both are based on specific combinations of backscattered electrons and X-ray images as well as image analysis routines developed at CANMET (Petruk & Pinard, 1976, Petruk, 1989), CSIRO (Frost, O'Hara, Suddaby, Grant, Reid, Wilson & Zuiderwyk, 1977, Reid, Gottlieb, MacDonald, & Miller, 1984) and JKMRC (Hall, 1977, Gu & Sugden, 1995). Recently, TIMA (TESCAN) and Mineralogic MiningR (ZEISS) supplied automated mineralogy for mining industry (Bouzahzah, Benzaazoua, Graham & Cropp, 2015, Gottlieb & Dosbaba, 2015a). In parallel, home-made routine were developped to resolve mineralogy challenges in mineral process but also in geometallurgy and mining environment (Kahn, Mano, & Tassinari, 2002, Knight, Klassen & Hunt, 2002, Mermillod-Blondin, Benzaazoua, Kongolo, de Donato, Bussiere & Marion, 2011, Hunt & Bradshaw, 2015). SEM mineralogy become essential to operation by setting units on mine sites (MacDonald, Latti, Adair, Bradshaw, & Dunn, 2011, Goergen et al., 2013, Dobbe et al., 2014, Gottlieb & Dosbaba, 2015b)."

Jan 1, 2016

By C. Blawert

In previous studies of various HPDC magnesium alloys we found that the corrosion properties of the skin are inferior in comparison to the bulk, However, this is surprising as one would expect better corrosion properties for the finer microstructure of the skin, In a more detailed study using 2 and 6 mm thick sections from HPDC AZ91 step plates, the corrosion results of the original skin, the slightly removed skin and the bulk were compared, Indeed, the corrosion measurements including potentiodynamic polarization, long term polarization resistance measurements and electrochemical impedance spectroscopy (EIS) revealed a lower corrosion resistance of the original as-cast skin. An explanation for this corrosion behavior was found, on the one hand, in the microstructure concerning especially the amount and distribution of the 13-phase and, on the other hand, in the composition, including the distribution of the most important alloying element Al and of some impurities such as Fe.

Jan 1, 2005

By B. W. Clyburn

"Coals from the Corporation's Lingan and No. 26 mines are classified as high-volatile A bituminous, with a very low inherent ash and containing a/l essential properties to provide metallurgical coal, with the exception of a high sulphur content. Only through proper cleaning at low specific gravity can the pyritic sulphur fraction of the coal be liberated to an extent where final sulphur meets coking standards. This first section of the paper deals with the operation of a Dutch State Mines heavy-media cyclone circuit to achieve an actual separation in the region of 1.30 specific gravity. A discussion of the parameter of control which must be applied along with an appraisal of the results obtained is included in the paper.IntroductionVery high fluidity and unusually low ash are the outstanding characteristics of coal from Devco's mines in the Harbour seam of the Sydney coal field.However, sulphur content, mainly pyritic, ranges from 1 to 2.5070. To obtain the low and consistent sulphur level required in metallurgical coking coals, preparation at low specific gravity is required .Metallurgical coke is used as the fuel in an iron blast furnace. Its sulphur content largely determines the quantity of slag required to remove it and therefore influences furnace productivity and unit costs.Typical data on the various coal properties of importance in the production of coke are included in Table I. Necessity of Low-Gravity SeparationThe design of any coal preparation plant requires the study of washability properties of the coal to be treated to determine the quantity and quality of coal produced at a given specific gravity along with the difficulty in accomplishing that separation.Their low ash content allows the important washability aspects of Harbour seam coals to be represented by sulphur! specific gravity curves (Fig. I). This particular example indicates that a yield of 54.5% is attained, at a sulphur content of 1.20%, for a perfect separating device operating with a 1.29 S.G. cut point.Material rejected from this separation still contains usable coal, which is recovered as middlings by separating at a higher gravity."

Jan 1, 1980

By A. D. Misener

Introduction Temperature gradients have been determined for numerous locations in the Canadian Shield in connection with mining operations (1, 2, 12, 13, 14, 15). As part of a programme of geophysical studies of this region, some of these gradients were re-determined by the writer at locations where other thermal properties, specific heat, thermal conductivity, radioactivity, etc., were also to be measured. The ultimate object was to determine the heat flow to the surface at these locations. It was felt that the practice of determining heat flow from the temperatures and conductivities obtained in a single vertical bore hole (3, 4, 5, 6, 7, 8, 9) might give results which were appreciably divergent from the average for a considerable area. Particularly, it was thought that temperature gradients, whether obtained in a single vertical hole or from a number of random locations at various depths in a mine, might be subject to local variations and anomalies serious enough to render unsure any discussions based on them. The procedure followed in this investigation was to select a location where mine workings extended to considerable depth over a reasonably wide area. At selected depths below surface, horizontal drill holes extending into regions of undisturbed rock were located and resistance thermometers were inserted into these holes far enough to record the true rock temperature. An attempt was made to obtain a sufficient number of readings at or near any one level to give a representative coverage of the area selected. This ideal could not always be attained, but the large number of readings obtained for each are a does give a reasonably representative picture of the temperature conditions. These readings required much rime and movement of men and equipment underground . They could not have been obtained without the wholehearted co-operation of the management and considerable assistance from the personnel of the mines concerned.

Jan 1, 1949

By H. W. Smith, N. Ichiyen

A convenient method for the calculation of metallurgical balances, based on statistical treatment of all available data, is presented. An error analysis is included. Examples show the advantages of the method, and also that such balances are less precise than might be supposed.

Jan 1, 1973

By K. A. Clark

SEPARATION of the oil from the bituminons sands of the Athabaska area of Alberta has been a subject of study by the Research Council of Alberta. The results of the study have been published in the Annual Reports of the Council. However, the last Annual Report in which there is mention of bituminons sand separation is that for 1934. The attention that is being directed toward the bituminons sands at the present time calls for an up-to-date summary of the work of the Research Council of Alberta on the hot-water separation process. STATEMENT OF FUNDAMENTALS OF HOT-WATER PROCESS Studies of the hot-water separation process have been largely empirical in nature. The objective sought has been a complete recovery of oil from the sand in the form of a separated oil which, itself, is free from mineral matter. Various procedures have been tried in the hope of attaining this objective and a very considerable mass of observations and background of experience have been acquired. lt is rime that a theory for hot-water separation should commence to emerge. As a start toward the formulation of such a theory, the statements which follow regarding the constitution of bituminons sand and its reactions with water and air are presented. It is not pretended that they are entirely correct, but it is believed that they lie not far from the truth. (1) Bituminons sand is an aggregate of sand, clay, oil, and water. The sand consists mainly of quartz particles of 100 ta 200 mesh size and smaller, but also of particles of other minerais including mica, rutile, ilmenite, tour-maline, zircon, spinel, garnet, pyrite, and lignite. Clay occurs interbedded with the bituminons sand, of which, also, it is a constituent. lronstone nodules of all sizes up to eight inches in diameter are likely to be present in the bituminons sand beds. The oil is viscous, naphthenic, and of a specific gravity slightly greater than that of water. The oil content ranges up to, and sometimes even exceeds, 17 per cent by weight. Rich bituminons sand from beds not invaded by water has a water content of 3 to 5 per cent by weight. The water is probably present as a film around the sand particles. The oil surrounds the moist sand grains as an envelope. (2) Water wets quartz and other siliceous minerals more readily than does mineral oil. Consequently, water tends to displace the oil film surrounding the quartz and other siliceous particles when the bituminons sand is mixed with water. Whether the oil is completely displaced depends on the properties of the water. That is to say, the materials dissolved or suspended in the water modify its wetting properties.

Jan 1, 1944

By L. Vu, V. Popov, J. Beland, R. Darling

"The Ferderber gold deposit is of Archean age. It consists of a series of gold-bearing quartz lenses within a shear zone that crosscuts the central part of the quartz dioritic Bourlamaque batholith. On average, this zone strikes N70E and dips 65SE. The Ferderber shear zone, which hosts the ore lenses, has been affected by a succession of tectonic events. A possible early period of brittle shear, accompanied by the formation of quartz lenses, resulted from strike slip movement along the zone. These early quartz veins were subsequently folded and boudinaged during reverse movement that accompanied a prolonged period of ductile shear. More quartz veins were emplaced in the shear zone at this time; these were also deformed by the thrusting. The latest tectonic event to affect the shear zone was a period of brittle fracture.Early dextral strike-slip movement on the shear zone is suggested by the local occurrence of Riedel shears, the preferred association of ore with east-northeast oriented segments of the zone, and by the apparent en echelon arrangement of some ore lenses. The most important event, a reverse movement, is indicatedby the attitudesoffoliation, folds, boudins, COS tectonites and slip planes. The late brittle fracturing formed narrow gouge filled faults, locally flanked by brecciazones, whichrun generally within and parallel to the shear zone, and also conjugate fractures that crosscut the zone.The Ferderber and six other adjacent gold deposits were formed in a structural regime dominated by a generally horizontal north-south regional compression. The Y axis of the strain ellipsoid is east-west and varies from horizontal to a plunge of 25 0 w."

Jan 1, 1987

By A. J. McLaren

Introduction Gold holds an important place among the mineral products of Manitoba. In value, it ranks second only to copper, which in 1931 attained first place. The gold production increased from 23,189 fine ounces in 1930 to 102,969fine ounces in 1931. The production for 1930, worth $479,359, came almost entirely from the Central Manitoba mine. The production for 1931 was worth $2,128,558, of which $1,509,018 came from the Flin Flon mine, $528,951 from the Central Manitoba, and $83,497 from the Sherritt Gordon. The Gem Lake mine and some prospects produced $7,785. The total output of gold in Manitoba, from the first recorded production in 1917 to the end of 1931, is estimated at 178,669 fine ounces, valued at $3,693,332. The production for 1932 promises to reach a new high record, due chiefly to the stepping-up of tonnage at the Flin Flon plants and the coming into production of the San Antonio mill in May. History The Manitoba Act, constituting Manitoba a Province of the Dominion, was passed in 1870 and provided for the vesting in the Crown of all un-granted or waste lands of Manitoba, as well as for the administration of these lands by the Dominion of Canada for the purposes of the Dominion "subject to, and except and so far as the same may be affected by, the conditions and stipulations contained in the agreement for the surrender of Rupert's Land by the Hudson's Bay Company to the Crown". Included in these waste lands were large areas later prospected and staked out as mineral lands. Up to the year 1912, that vast territory extending from the 12th base line to the 60th parallel of latitude, and from the Saskatchewan boundary to Hudson bay, was part of the District of Keewatin. Although added to Manitoba in 1912, the administration of its mineral lands also remained vested in the Dominion, so that all mineral lands within the Province upon which deposits of gold ore have been found were disposed of and administered by the Mineral Lands Division, Department of the Interior, until the transfer of the natural resources to the Province of Manitoba, on July 15th, 1930.

Jan 1, 1932

By R. D. Brown

Manitoba has now joined Ontario and Quebec in providing for new incentives and lower tax rates for the mining industry. A single rate of tax (to replace the former two-tier royalty), an investment tax credit and a relatively straightforward set of rules for calculating taxable mining profits are the main features of new mining tax legislation announced by Manitoba's Finance Minister Donald W. Craik in his May 15, 1979 budget address. On introducing amendments to reform The Metallic Minerals Royalty Act, the Finance Minister indicated that the new tax regime is intended to restore the Manitoba mining tax system to a competitive position in Canada, and should result in renewed investment in the province's mining industry. 1n this regard, the government could be right-there is little question that the new tax regime will produce greater incentives for the mining industry than the two-tier royalty system introduced by the New Democratic government in 1975. The proposed changes, contained in Bill 57, would largely be effective January I. 1979.

Jan 1, 1979

By R. R. Bassermann

THE property of Howey Gold Mines, Limited is situated at Red Lake, Ontario, one hundred and seventy-five miles east of Winnipeg and eighty miles north of the Canadian National Railway line. The mine has been a continuous producer since April, 1930, and at present is hoisting 1,350 tons of ore per day. The shaft consists of three compartments (see Figure 1, sketch B). Hoisting is done by two skips in balance, one of which is interchangeable with a cage. Sinking had been carried out at three different periods. From the surface to the 550-foot level, the sets had been spaced at seven-foot intervals, from the 550-to the 1,060-foot level at six feet, and from the 1,060-to the 1,500-foot level at five feet. During the five years of operation, the shaft had become so badly worn, due to spill from the tipples and, to a certain extent, from the loading pockets, that re-timbering was considered necessary. It should be explained that no crushing is done underground because of the ad verse effect this would have on the efficiency of the sorting. The grizzly rail clearance above the ore pockets is fourteen inches and consequently the ore hoisted is extremely coarse. More than average spill from the loading pockets and tipples under such conditions is inevitable, and it is debatable whether underground crushing with consequent increased sorting costs would not be justified. The cost of complete re-timbering according to standard practice would have been prohibitive both directly and indirectly: A lengthy shut-down of the shaft, with the consequent disorganization of the staff and workmen, could not be considered. Accordingly, it became necessary to devise some method of repair that could be carried to completion in a very limited period of time. The shaft timber for the first 250 feet was not in need of repair. From the 250-foot to the 1,060-foot level the wall plates, posts, and blocking were in good condition. These had been protected by a one-inch plank lining put in at various periods during the past three years without interfering with hoisting operations. The end plates and dividers, however, could not be protected in this manner because of the lack of skip clearance. It was decided that, if the dividers in this section could be replaced, the shaft would be as satisfactory as if completely re-timbered. Several factors had to be taken into consideration in deciding on a suit-able method of repair. In the first place, the tipple plates had to be re-designed. To complete the job in a reasonable time, not only had work to be done on the tipple, but simultaneously from several points in the shaft itself. Since all power cables, pipe lines, etc., were in the manway compartment of the shaft, this compartment had to be left undisturbed.

Jan 1, 1935

By A. E. Flynn

Introduction The purpose of this paper is to record the results of researches on anhydrite that have been undertaken at the Nova Scotia Technical College during the last two or three years. The work was carried out in the Mining Department of the College, and several investigators were engaged on the work from time to time. Messrs. R. E. Hanson and K. M. Ed devoted their mining theses to the investigation, and Messrs. J. C. Hall and G. W. Baker were engaged on the work during the summers of 1928 and 1929, respectively. The writer was responsible for the initiation and direction of these researches, which were made possible by the financial assistance of the Department of Mines of the Province of Nova Scotia. Nova Scotia is the leading Province in Canada for gypsum production, its output being about a million tons per year, or over 80 percent of the production for the whole of Canada. The commanding position of Nova Scotia in this regard is due to the abundant supply of gypsum and its proximity to areas of intense utilization in the eastern United States. The resources of gypsum are contained in a total area of 627 square miles of gypsiferous rocks, so that an enormous reserve of this mineral is available. Present operations are confined to the highest grade and most easily worked deposits close to water transportation.

Jan 1, 1930

By W. Noel O?Brien

Introduction Since 1930 numerous improvements have been made in equipment designed for the mechanical removal of broken ore in underground mining operations. New applications of mechanical equipment, as? well as improvements and adaptations of well established systems, are being made continually. It is the purpose of this paper to discuss present-day equipment for the removal or transfer of broken ore by means of a powered hoist and scraper arrangement. The terms used throughout the paper are those commonly employed in the trade literature and by mining men. The terms slusher hoist, hoist, and scraper hoist are used inter-changeably to mean a machine, powered by compressed air or electricity, with drums for the winding of wire rope. The tail rope, also known as the pull-back rope or return rope, drags the empty scraper toward the tail-sheave, that is, back to the loading point. No attempt is made to cover the entire field of application of scraping methods. Rather it is the? writer's desire to emphasize the fundamental principles of scraping practice and design and to relate them to some modern applications. The available literature on scraping practice has been freely used. together with personal observation and information and advice of practising engineers and representatives of companies manufacturing slushing equipment.

Jan 1, 1951

By A. O. Dufresne

WITHOUT transportation, mining would be quite impossible. Any person familiar with the operation of a mine knows full well that from the minute ore is blasted, it is kept moving until it reaches the treatment plant. In the mill, by means of conveyors and elevators, the ore is brought from receiving bins to one machine after another until finally its valuable mineral is separated from the gangue. The finished product must then be shipped -either by boat, rail, or motor trucks to industrial centres, where it undergoes further treatment and transformation into finished commercial goods. Everybody appreciates that the winning of an or-e includes, amongst various operations, the moving of large quantities of material of generally low value. Transportation, therefore, must be considered One of the most important factors in the economics of mining. My assignment, this afternoon, is not to treat of that phase of transportation as it directly affects mining operations, but rather to consider some of the aspects of overland transportation and its influence in bringing about the development of mining camps in Canada. I shall take the liberty of rapidly surveying conditions facing prospectors, mine developers and operators from the time a region is still in a pre-pioneering stage until such time as a mine starts shipping its concentrates.

Jan 1, 1956

By William E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential.INTRODUCTIONThe purpose of this paper is to describe a cost approach to the valuation of mineral exploration properties and to provide some valuation examples. The particular cost approach described is the Appraised Value Method, which is best applied to mineral properties at the exploration stage.At present there are no comprehensive regulations or guidelines in Canada which specify what approaches and methods to use for the valuation of mineral properties. In this paper, the Appraised Value Method described is one method that the writer considers to be accepted industry practice for mineral properties at the exploration stage.Mineral properties are valued for a number of reasons, including mergers and acquisitions, non arm's length transactions, pricing of initial public offering of stock, support for property agreements, litigation, expropriation, and insurance claims."

Jan 1, 2003