SPECIAL FOCUS: FUTURE OF MINING
minerals occur together naturally, mining operations should be extracting not just the gold and silver, but all the associated minerals which are technically feasible. By focusing on underdeveloped
properties, companies can also dramatically reduce the time it takes to get from the exploration phase to production. “We are seeing this business model work more and more and it is easier to finance and becomes more attractive for investors,” says Sattlegger. However, he believes that junior mining operations are better positioned to take advantage of these opportunities.
A BETTER MOUSETRAP Element79 Gold Corp, a Vancouver-based junior mining company is a prime example of this strategy. Te company’s mission is to take its acquisitions and develop them using state-of-the-art technology. Te intent of its business model is to turn those assets into proven resource values and then cashflow- positive operations in under two years. “We have the flexibility to be nimble,
Smart operators are capitalising on a golden
opportunity to get more out of existing sites
acquire multiple properties, and at the same time take advantage of latest and greatest technologies,” says James Tworek, CEO of Element79. “While we obviously work with great contractors, we don’t necessarily need a massive workforce under our wing.”
“A major benefit of new tech is that you can get equal, if not far better, results with fewer humans”
Although mining traditionally depends on tested-and-true methodologies and technologies, Element79 is not against breaking the mould when it comes to the use of cutting-edge technologies. Tis could include the use of AI systems to analyse geological and geophysical data from existing drillholes and regional analogues. Additionally, the company may look to incorporate everything from satellite- based geophysics to high-resolution imaging of in-ground resources. Both AI and satellite geophysical technologies use supercomputers to crunch and render data for improved results when setting new targets for future drill plans. Element79 has also recently deployed
drone-based magnetic resonance to generate higher quality hits on properties instead of more costly and environmentally impactful helicopter recon. “Old technologies often require a
dozen or more workers on site to operate,”
MINING FOR OPTIONS Tere are a number of solutions that the industry could focus on to help align itself with the imminent shortfall in talent. As an example, instead of committing large investments into the exploration of new properties, the mining industry needs to shift to extracting the resources that were previously left behind in known deposits because at the time they were simply not economical. “Historically, when miners found something, they would only be able to pull about 60% of the precious metal out of the ground,” explains Sattlegger. “Tankfully, with today’s technology, we should be getting 90% recovery or more using extraction processes that are less detrimental to the environment.” Additionally, mining operations should be developing more than just the most valuable or primary commodities within a known deposit. Since these key
Next-generation technologies are improving the recovery of resources
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