Gold Exploration is a broad term describing the search for economically exploitable gold deposits and the extension of existing deposits.
The classic image of gold exploration is the lone Prospector panning for gold. The reality of modern gold exploration is teams in the office and field using geology, chemistry, physics, data management, GIS and statistics to help locate gold deposits.
Despite the knowledge and technology available in 2023, we still have less than a 1% chance of finding an economically viable deposit for any new target tested. Even if a company has the best people, the best technology and the best location, they are still only increasing their odds of discovery – not guaranteeing it. These very low odds of success are offset only by the potential for gain should the explorer find an economic gold deposit.
Even when a deposit is found, there is still much work and much expense before any gold is produced. This is the stage of project development. It is now estimated that the time between discovery and first gold production averages 10 years. Considering risk added by gold price uncertainty, market cycles, changes in taxation regimes and increasing resource nationalism, the gold exploration and development business is not for the faint-hearted.
Those wanting to accept the high risk and invest in exploration companies often find frustrating the amount of techno-speak and jargon exploration companies use to describe what they do. This makes it extremely hard for people outside the industry to understand what is really going on. This site aims to help navigate all areas of the gold exploration, development and mining in laymen’s terms so that they may be understood by all.