❓ WA Government responds to concerns about declining gold discoveries, citing data showing fluctuations linked to the mining boom and Exploration Incentive Scheme successes, while deferring to company websites for specific deposit viability details.
AnsweredQoN 20Legislative Council
QuestionView source ↗
I refer to the article, by Professor Allan Trench of Curtin University, in MiningNewsPremium.net of 15 April 2013, which argues that the rate of material gold discoveries in Australia is in rapid decline, and I ask:
(a) is the rate of material gold discoveries in Western Australia in rapid decline;
(b) if no to (a), what are the relevant statistics;
(c) have any material gold discoveries been made as a result of the Exploration Incentive Scheme;
(d) if yes to (c), what are those discoveries; and
(e) if yes to (c), are the grades of any of these discoveries indicative of the establishment of viable mines, and if so, what is the indicative life of such mines?
(a) is the rate of material gold discoveries in Western Australia in rapid decline;
(b) if no to (a), what are the relevant statistics;
(c) have any material gold discoveries been made as a result of the Exploration Incentive Scheme;
(d) if yes to (c), what are those discoveries; and
(e) if yes to (c), are the grades of any of these discoveries indicative of the establishment of viable mines, and if so, what is the indicative life of such mines?
AnswerView source ↗
Answered
18 June 2013
Responded by
Minister for Agriculture and Food representing the Minister for Mines and Petroleum
Response time
35 days
(a)-(b) The frequency of presentations at a conference
is not a reliable indicator of the rate of gold discovery in Western Australia.
Of the 150 papers presented on the discovery of gold deposits at the NewGen
Gold Conference since 1995, a total of 62 have been on Australian deposits - so
more than for any other continent in the world.
This conference series showcases the case history of discovery of only the
top world-class gold deposits world-wide, with Western Australia featuring
prominently on the program over the years.
There are some individuals who believe that Western Australia is a mature
exploration target for gold -- but discoveries continue.
The Department of Mines and Petroleum provided the following information on
gold discoveries in Western Australia, extracted from Intierra's
subscription-only database.
· In 2008, immediately before the Exploration Incentive Scheme (EIS)
started, there were 42 gold discoveries added to Intierra's database.
· In 2011, at the peak of the boom, 120 gold discoveries were added to
Intierra's database. The number declined to 67 gold discoveries in 2012.
The trend follows the recent mining and exploration boom, so a decline is to
be expected with falling commodity prices and the ongoing difficulty that many
exploration companies have in attracting investment capital for exploration.
Following initial discovery of mineralization, years of exploration are
often needed before the full significance of the discovery is known. A
world-class deposit might be identified from humble beginnings after years of
innovative exploration.
(c) Gold discoveries have been made by companies where
assistance was obtained under the Exploration Incentive Scheme. Whether these
discoveries will lead to a 'material' or world-class gold mine only time will
tell.
(d) Recent near-surface gold discoveries made to date
with assistance from the Exploration Incentive Scheme include: Handpump,
Hercules, Magnus, and Central Bore.
Recent discoveries but at significant depth include those at the existing
Paulsen's and Mount Magnet gold mines.
(e) Further information on these gold deposits can be
found on the company websites of
Beadell Resources, Alchemy Resources, Gold Road Resources, Northern Star
Resources, and Ramelius Resources.
Their websites include drill intersections, assay data and any evolving
plans for future exploration and development.
is not a reliable indicator of the rate of gold discovery in Western Australia.
Of the 150 papers presented on the discovery of gold deposits at the NewGen
Gold Conference since 1995, a total of 62 have been on Australian deposits - so
more than for any other continent in the world.
This conference series showcases the case history of discovery of only the
top world-class gold deposits world-wide, with Western Australia featuring
prominently on the program over the years.
There are some individuals who believe that Western Australia is a mature
exploration target for gold -- but discoveries continue.
The Department of Mines and Petroleum provided the following information on
gold discoveries in Western Australia, extracted from Intierra's
subscription-only database.
· In 2008, immediately before the Exploration Incentive Scheme (EIS)
started, there were 42 gold discoveries added to Intierra's database.
· In 2011, at the peak of the boom, 120 gold discoveries were added to
Intierra's database. The number declined to 67 gold discoveries in 2012.
The trend follows the recent mining and exploration boom, so a decline is to
be expected with falling commodity prices and the ongoing difficulty that many
exploration companies have in attracting investment capital for exploration.
Following initial discovery of mineralization, years of exploration are
often needed before the full significance of the discovery is known. A
world-class deposit might be identified from humble beginnings after years of
innovative exploration.
(c) Gold discoveries have been made by companies where
assistance was obtained under the Exploration Incentive Scheme. Whether these
discoveries will lead to a 'material' or world-class gold mine only time will
tell.
(d) Recent near-surface gold discoveries made to date
with assistance from the Exploration Incentive Scheme include: Handpump,
Hercules, Magnus, and Central Bore.
Recent discoveries but at significant depth include those at the existing
Paulsen's and Mount Magnet gold mines.
(e) Further information on these gold deposits can be
found on the company websites of
Beadell Resources, Alchemy Resources, Gold Road Resources, Northern Star
Resources, and Ramelius Resources.
Their websites include drill intersections, assay data and any evolving
plans for future exploration and development.
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