Remote Prospecting?

[Geowizard]

Stress testing;

During the 2008 financial crisis, banks were required to undergo stress testing. The question is; "How much variability in lower revenue and increased cost factors can a business be subjected to and remain profitable?"

Mining "Pre-feasibility Studies" (PFS) usually include a section on this subject. If a proposed mining operation is profitable only during high GOLD prices, then there may be the possibility of failure at a not so far distant point in the future when GOLD prices drop!

- Geowizard

[Geowizard]

Would you dig it?

Remote prospectors have only ONE ambition. To find a nugget!

The inevitable question for every remote prospector comes down to... "Would you dig it?"

Being an above average remote prospector, You found TEN nuggets!

Nugget 1 is a 10 gram nugget buried 6 feet.

Nugget 2 is a 5 gram nugget buried 4 feet.

Nugget 3 is a 13 gram nugget buried 8 feet.

Nugget 4 is a 6 gram nugget buried 10 feet.

Nugget 5 is a 20 gram nugget buried 30 feet.

Nugget 6 is a 2 gram nugget buried 3 feet.

Nugget 7 is a 7 gram nugget buried 5 feet.

Nugget 8 is a 17 gram nugget buried 13 feet.

Nugget 9 is a 8 gram nugget buried 20 feet.

Nugget 10 is a 100 gram nugget buried 60 feet.

Would you dig ANY of these nuggets? and if so, what would be the order of the digs?

What if you had 100 nuggets? How would YOU decide?

Think about it!

- Geowizard

[Geowizard]

Before you dig;

Develop a score card:

What is "good"?

Grams are good... so, "grams" are proportional to good.

Depth is not good... so, "depth" is inversely proportional to good.

score = grams/depth (also known as the gain divided by the pain)

Score Card:

Nugget 1 is a 10 gram nugget buried 6 feet. score 1.70 priority #1

Nugget 2 is a 5 gram nugget buried 4 feet. score 1.25 priority #6

Nugget 3 is a 13 gram nugget buried 8 feet. score 1.625 priority #3

Nugget 4 is a 6 gram nugget buried 10 feet. score 0.60 priority #9

Nugget 5 is a 20 gram nugget buried 30 feet. score 0.67 priority #7 or #8

Nugget 6 is a 2 gram nugget buried 3 feet. score 0.67 priority #8 or #7

Nugget 7 is a 7 gram nugget buried 5 feet. score 1.40 priority #4

Nugget 8 is a 17 gram nugget buried 13 feet. score 1.31 priority #5

Nugget 9 is a 8 gram nugget buried 20 feet. score 0.40 priority #10

Nugget 10 is a 100 gram nugget buried 60 feet. score 1.67 priority #2

Now you can prioritize your diggin's!

- Geowizard

[Jim_Alaska]

I'm a pretty simple guy. But first of all I feel compelled to say that I am an American and deal in weights that Americans understand. I, as well as the nation as a whole (with a few exceptions) have rejected the Metric System in favor of avoirdupois. Consequently my prospecting ventures are based in a system of weights I can readily understand. So then, the weights listed are, to me, meaningless.

I can live with Troy weight for precious metals because it is relatively simple, but Metrics I completely reject. I worked with a scientist one time who said that my "my problem" was that I was trying to convert the Metric, when what I should have been doing is accepting it for what it was.

My short answer was that since I didn't know "what it was", it forced me to convert it. If I have to convert it, it is useless to me and an extra step just to understand how much something weighs.

[Jim_Alaska]

Like I said in my previous post, I am a pretty simple guy, but the logic here in this post escapes me. First you say I have found ten nuggets and then go on to list the weight and depth they were found at. Then you ask the question "would you dig it?"

My simple mind tells me I have already dug them, so the question is completely illogical. If I, for some unknown reason have not actually dug these nuggets, there is no possible way to determine the depth they are at, so the question is once again illogical.
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Would you dig it?

Remote prospectors have only ONE ambition. To find a nugget!

The inevitable question for every remote prospector comes down to... "Would you dig it?"

Being an above average remote prospector, You found TEN nuggets!

Nugget 1 is a 10 gram nugget buried 6 feet.

Nugget 2 is a 5 gram nugget buried 4 feet.

Nugget 3 is a 13 gram nugget buried 8 feet.

Nugget 4 is a 6 gram nugget buried 10 feet.

Nugget 5 is a 20 gram nugget buried 30 feet.

Nugget 6 is a 2 gram nugget buried 3 feet.

Nugget 7 is a 7 gram nugget buried 5 feet.

Nugget 8 is a 17 gram nugget buried 13 feet.

Nugget 9 is a 8 gram nugget buried 20 feet.

Nugget 10 is a 100 gram nugget buried 60 feet.

Would you dig ANY of these nuggets? and if so, what would be the order of the digs?

What if you had 100 nuggets? How would YOU decide?

Think about it!

- Geowizard

[Geowizard]

I should have explained more completely;

Prospectors mine (hard rock) based on an inferred target. The technology used in prospecting provides DATA that gives two important pieces of information, Size and depth!

I was leading into a discussion of Council and Nome surveys that show size of deposit and depth. The decision that a prospector has to make is whether to expend money to drill it or dig it.

I understand about the problem many people have with metric. In the international World of measures, the "System International", SI units, specified kilograms for weight. You will see metric tonnes, kilograms and grams more frequently than not. Parts per million are simply grams per metric tonne. This is probably related more to hard rock mining. Placer mining naturally relates to cubic yards, feet, inches.

The International System of Units, universally abbreviated SI (from the French Le Système International d'Unités), is the modern metric system of measurement. The SI was established in 1960 by the 11th General Conference on Weights and Measures (CGPM, Conférence Générale des Poids et Mesures).

I'm an American too. Readers probably come from a broad range of countries. I agree that here in the USA, we are a mix of two different systems driven by global trade and commerce.

Don't go away!

- Geowizard

[Jim_Alaska]

Sorry Chuck, I guess I misunderstood also. When you specified "nugget" my mind automatically went to placer mining, not hard rock. Now that you have specified hard rock I can see the logic.

I am aware of the theatrics surrounding the SI system, but reject it in my own mind just as many in this country have done. I know that he fields of medicine, science and academics has accepted it, but for every day use it is too cumbersome for fields like trades and retail.

It is also interesting that Europe converted from avoirdupois to the SI system way back when; that sure opened a can of worms. The failed attempt to convert the U.S. to Metric has cost industry untold millions in converting things such as tape measures and many other things to both SI as well as Metric

Thanks for the clarification.

[Geowizard]

Jim,

I'm on your side;

I have TWO sets of tools here and two sets of tools in Alaska. My old Suburban in Alaska is completely SAE. My Honda 4-wheeler goes without saying!

At my camp in Alaska, I maintain a Bush Ace hardware/Home Depot store of all of the common SAE nuts and bolts. I had the recent misfortune of hydraulic fittings that got "bumped" by trees and needed replacement. The new fittings are SAE threads and METRIC wrench!

I kept insisting the fittings were the WRONG fittings because I put an SAE wrench on them without checking if they would screw onto the fittings - two weeks in the twilight zone later and just short of a nervous breakdown, I learned the NEW industrial standard!

It's a bold new world out there.

- Geowizard

[Jim_Alaska]

It is not a "bold new world", it is an insane rush to create a new money and profit source by restructuring the manufacture of said nuts and bolts, so that the public has to buy the new versions.

I first noticed this on my 2004 Chevy pickup. It has, of all insane things, both SAE as well as Metric bolts, nuts and screws on the same vehicle. So you never know which ones are which until you try to put a wrench or socket on them.

[molecule counter]

All, I hear you on the subject of SAE verses metric; but just wait till you also have an old Land Rover for off road use and have to deal with Whitworth nuts, bolts, and screws. Talk about 'hard to find'