[The industry now spends 3x more to make 60% fewer discoveries compared to 30 years ago.](https://minexconsulting.com/wp-content/uploads/2019/12/IMARC-Presentation-27-Oct-2019-FINAL.pdf) ![[Pasted image 20230610124924.png]] ![[Pasted image 20230610131330.png]] Mineral exploration is a complex and critical process that involves the identification and assessment of mineral deposits. The main steps, challenges, and value are: | Step | Challenges | Value | |-----------------------------|-----------------------------------------------------------|-------------------------------------------------------------------------| | 1. Preliminary Surveys | - Limited data availability | - Identifying potential regions | | | - Inaccessibility of regions | - Cost-effectiveness in exploration | | 2. Exploration Planning | - Regulatory compliance | - Strategic alignment with goals | | | - Environmental constraints | - Efficiency in resource allocation | | 3. Geological Mapping | - Technical expertise required | - Detailed understanding of geological features | | | - Difficult terrain | - Foundation for further studies | | 4. Geophysical Surveys | - Equipment costs | - Detection of subsurface structures | | | - Interpretation accuracy | - Target prioritization | | 5. Geochemical Analysis | - Sample contamination | - Identification of mineral composition | | | - Analytical precision | - Confirmation of deposit characteristics | | 6. Drilling | - Operational risks (safety, environmental) | - Direct examination of mineralized zones | | | - High costs | - Precise determination of size, shape, quality | | 7. Resource Estimation | - Inherent uncertainties | - Assessment of economic viability | | | - Data integration complexities | - Informed decision-making for development | | 8. Feasibility Studies | - Market analysis risks | - Determination of project feasibility | | | - Engineering challenges | - Risk mitigation | | 9. Development & Mining | - Environmental impacts | - Extraction of valuable minerals | | | - Social considerations | - Economic benefits (jobs, revenue, etc.) | [[Quantum Metereology & Sensors]] ### Noteworthy Initiatives 1. **LANDTEM** - Mineral Exploration Sensor System 1. Applies highly sensitive sensors that are capable of detecting magnetic fields. They are 100 millionth of the size of earth’s magnetic fields. 2. Commercially accessible via Perth-based HPEM and Canada’s Crone Geophysics 3. Superconducting device that uses quantum effects to find the magnetic signatures of ore bodies, induced by the transient electromagnetic mineral exploration method. It works remotely, while sitting on the surface at site, and it’s been used to map out deposits of nickel, silver and other conductors in multiple mine sites. 2. [TechMet](https://www.techmet.com/) [[Quantum x Mineral Exploration]] --- Clarion Clipperton Zone has more of Cobalt and Nickel deposits than all the land based deposits combined. ![[Pasted image 20240311221351.png]] International Seabed Authority Metals on the world's sea floor, deposit types: 1. Hydrothermal vents 2. Seamounts 3. Polymetallic Nodules Types of Exploration 1. Brownfield - secure deposits close to an existing mine 2. Greenfield - find new deposits in an unexplored area