GreenGold recognises that exploration dollars are very tight in the current global environment, and that mining / exploration companies are increasingly under pressure from chief financial officers and shareholders to reduce costs while continuing to add value to their investments.
A significant component of exploration expenditure is drill core logging, sampling and geochemical analysis, particularly in countries such as Australia where labour costs in particular are high. Maintaining fully staffed core logging facilities is expensive.
In response to the growing pressures to reduce exploration cost while maintaining international best practice standards, GreenGold has developed an innovative off-shore core processing and analytical facility in Jakarta, Indonesia. The facility is set up to optimise the rapid acquisition of primary exploration data by using the latest technology to ensure seamless development of project databases.
With the move toward “Big data” AI based analytics, there is an opportunity to now get much more out of geology data sets than ever before, and GreenGold is set to be at the cutting edge of that technology.
GreenGold business development manager Peter Mellor says, “we recognise that we are presenting a somewhat unorthodox approach to the acquisition and analysis of geological data from drill core, but we believe that we can deliver very high quality service at significantly lower cost than can be achieved in places like Australia, even considering the cost of shipping core to Indonesia. We have a world class technical team based in Jakarta who can not only acquire the data, but can also develop resource models and estimate resources to joint ore reserves committee (JORC) standard, signed off by our in-house Competent Person”
GreenGold has partnership agreements in place with internationally accredited labs in Jakarta so is in a position to fully control the entire process from acquisition to analysis and modelling. Peter Mellor says “we believe it is extremely important to have absolute control over the entire process to ensure quality assurance and quality control is maintained and that the resultant data sets are completely clean. It is philosophy that we apply across all of our projects. Alternatively, we can log the sample in Australia and send samples to Indonesia for assaying.”
GreenGold recently non-stop logged and sampled 46 kilometres of pre-existing core from an Australian gold project that had been newly acquired by the client. This was achieved by a dedicated team within six months, including resource modelling and resource estimation. The team processed an average of around 250 metres per day which is impressive by anyone’s standards.
Peter Mellor says “our intention is to continue adopting new technologies as they come on-line. For example, there is some new core scanning technology coming on market that combines X-ray fluorescence with X-ray tomography which enables the geologists to actually see inside the core and map the metallic mineral constituents in real time. Amazing!”
GreenGold is setting out to change the mind set of miners and explorationists with regard to data acquisition and analysis of drill core with a view to making substantial savings in their exploration costs. This is no mean feat in an industry that is famously conservative, frequently to its own detriment. Peter Mellor says “it may not seem intuitive to send your core to Indonesia for processing but we have proven that it is a viable option for companies who are open to trying novel cost saving solutions.”
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