SEG 45 Final_qx4 - Society of Economic Geologists

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28 SEG NEWSLETTER No 63 • OCTOBER 2005 Academics, Wealth Creation and SEG Steve Kesler (SEG 1976 F) Department of Geological Sciences, University of Michigan The upcoming SEG stand-alone meeting on Wealth Creation in the Minerals Industry (May 14–16, 2006, Keystone, Colorado) is a rare opportunity for ore deposit academics to prove that the word “economic” belongs in SEG. SEG, through both its name and its membership, is one of the few scientific societies that recognizes the important influence that economic activity has on teaching and research. Despite this obvious connection, most SEG technical programs deal with research advances and relegate discussion about economics and business to the halls. As a result, many of us who do not deal with economic issues on a day-to-day basis lose touch with the realities that control what goes on in our science and that support our activities. This time, the stage is being reversed and economic considerations are moving to the front. The value of this move should be obvious to academics. We will get guidance for our own activities by hearing more about the problems and commodities that are likely to be of greatest interest to industry in the future. We will also have a chance to influence thinking on these issues through questions and discussion, while dealing with even more immediate topics of interest to us, such as student employment and research funding. Finally, we might incorporate more of these issues into our teaching. I expect this conference to produce a stronger SEG and a cadre of academic members with a better appreciation for our middle name. It might even lead to ore deposit courses that do as much to prepare geologists for business and management as they do to prepare them for exploration and research. If we can grow along this path, we might help train the next generation of economic geologists to be better prepared for the real-world mineral resource challenges that will face them and society. SEG STUDENT CHAPTER CONFERENCE: MAY 13, 2006 SEG is pleased to announce major corporate sponsorship for students to attend the SEG Student Chapter Conference on May 13, 2006. This conference is an integral part of the May 14-16, 2006 SEG meeting on “Wealth Creation in the Minerals Industry” in Keystone, Colorado, USA – students must register for this meeting as a prerequisite for attending the Student Chapter Conference. The Society will sponsor the attendance by representatives from more than 40 SEG student chapters worldwide as well as selected students from countries that do not yet have student chapter representation. Other students will also be eligible for financial assistance and discounts. The conference will include poster presentations by students and breakout sessions where students prepare several white papers focusing on how the SEG can better serve students worldwide. Students will be chosen by the Student Conference Selection Committee on the basis of 1,000-word abstracts on their research (submitted to Students2006@segweb.org) and willingness to present a poster at the main Keystone meeting (May 14–16). Please note that abstracts need not be directly related to the theme “Wealth Creation in the Minerals Industry” but must be submitted not later than the revised deadline of November 30, 2005. Successful applicants will be required to provide digital copies of their posters by March 1, 2006. We are planning on several avenues of financial assistance for students – up to $2,000 in travel grants, a 75% discount in registration fees, and a significant subsidy for hotel accommodation. Requirements: Students who wish to be considered for support to attend the conference should meet the following requirements: • be registered full-time at an accredited university or college • preferably belong to an SEG Student Chapter, or be based in a country that is not represented by an SEG Student Chapter – see list of current student chapters at www. segweb.org/StudentChapters.htm • be an SEG student member, or have applied for SEG student membership • be able to understand and speak English This conference represents an unparalleled career opportunity for students. We expect high attendance at Keystone, so start planning now!
OCTOBER 2005 • No 63 SEG NEWSLETTER 29 ... from 24 Exploration Reviews (Continued) Greens Creek for the quarter was $0.87, a twenty-cent per ounce increase compared to the 2nd quarter of 2004. The average grade of ore mined during the quarter was 17.74 oz Ag per ton, up nearly 1.5 opt over the same period in 2004. During the second quarter the mine produced 2,556,989 oz Ag, 20,013 oz Au, 6,148 tons Pb and 18,086 tons Zn. Total production costs for the quarter were $3.54/oz Ag produced, unchanged over the year previous figures. Quaterra Resources announced that drilling had begun at its Duke Island Cu-Ni-PGE project near Ketchikan. At least six 500- to 1,000-ft-deep holes will be drilled on the Marquis, Potato Patch and Raven targets identified by recently completed gravity, magnetic and electromagnetic surveys. Geological and geophysical data suggest these prospects lie within a mineralized system that extends for over 14.5 km along strike and up to 3.8 km across strike with the ultimate dimensions of the mineralized system remaining open to expansion. Freegold Ventures and joint venture partner Pacific North West Capital announced that 10,000 ft or diamond core drilling had been completed at its Union Bay PGE project near Ketchikan. The program tested a number of magnetic targets but did not identify significant Pt mineralization. Funding partner Lonmin Plc. has elected to terminate its interest in the project. ASIA Regional Correspondent: Craig A. Feebrey (SEG 1996 F) Japan Oil, Gas and Metals National Corporation (JOGMEC) Calle Evaristo Lillo 112, Piso 9 Las Condes, Santiago, Chile E-mail: feebrey@terra.cl CHINA China Diamond Corp., in partnership with Shandong Physical Exploration Institute (SPEI), has identified four anomalous zones on their Huixian Au- Cu Project in Shandong province as part of their first phase of exploration which includes ground geophysics, geological mapping, and more than 8,000 soil samples. The anomalies are all located around the past-producing Huixian mine. Dynasty Gold Corp. (80%) in partnership with Xinjiang Non-Ferrous Metals Co. Ltd. (20%) has reported an inferred resource of 16.9 Mt @ 1.68 g/t Au for the Qi-2 deposit on the Hatu property located in the Tian Shan belt of NW China. Qi-2 is located 7 km west of the operating Qi-1 gold mine. Golden China Resources has been actively drilling its Nibao gold project, located in Guizhou province. Drilling has focused on Nibao East and Nibao South with 5,302 m of 15,000 m completed to date. At Nibao East, fence drilling has confirmed continuous gold mineralization along a strike length of at least 500 m. Significant intersections to date include hole NBDDH047, 30 m @ 1.75 g/t Au from 50 m; hole NBDDH132, 15 m @ 2.55 g/t Au from 87 m; hole NBDDH133, 58 m @ 1.88 g/t Au from 100 m; and hole NBDDH134, 34 m @ 2.05 g/t Au from 67 m. At Nibao South, about 2.5 km SW of Nibao East, drilling to date has outlined a gold zone with a strike length of at least 1.2 km. Significant intersections to date include hole NBDDH131, 7.96 m @ 1.76 g/t Au from 64 m; hole NBDDH151, 14.96 m @ 4.06 g/t Au from 88 m; hole NBDDH164, 12 m @ 12.87 g/t Au from 2 m; hole NBDDH170, 11.88 m @ 4.68 g/t Au from 33 m; and hole NBDDH172, 14 m @ 2.45 g/t Au from 30 m. Continental Minerals (60%) and China NetTV Holdings (40%) completed the first seven holes of a 10,000m program on their Xietongmen porphyry Cu-Au project, located 240 km southwest of Lhasa, Tibet. The holes are being drilled to test previous results. Better intersections include hole 5004, 141.5 m @ 0.7% Cu and 0.77 g/t Au from 46.5 m; hole 5006, 102.9 m @ 0.71% Cu and 0.99 g/t Au from 18.7 m; and hole 5003, 24.1 m @ 0.92% Cu and 2.47 g/t Au from 99.1 m. Orchid Capital has entered into an agreement with the China Tibet Institute of Geology Survey (CTIGS) with rights to an 80% interest in the Qu Long and Jia Ma copper projects in Tibet. Orchid Capital will fund exploration and a full feasibility study to earn its right. The porphyry-Cu Qu Long project is located 60 km east of Lhasa, whereas the Jia Ma Cu-skarn project is located 6 km north of Qu Long. Pacific Minerals has completed a private placement of US$3M with Ivanhoe Mines, who now owns16.5% of the former’s share capital. Part of the funds will be used to explore the JBS platinum group metals deposit in Yunnan and the 217 gold project in Inner Mongolia. Ivanhoe Mines has also signed a jointventure agreement with Inner Mongolia Huayu Geology and Minerals Exploration Co. Ltd to explore and mine in Inner Mongolia. Ivanhoe has the right to earn an 80% interest in exploration and mining licenses covering a 400-km2 area. Silk Road Resources Ltd. has completed six DD holes totaling 1,319.4 m on its Sangqu prospect, Gansu Province. The program tested gold mineralization associated with quartz-carbonate-sulfide vein stockworks and hydrothermal breccias hosted in Triassic sediments. Better results included hole SAN-05-2, 21 m @ 1.32 g/t Au from 40 m; hole SAN-05-5,: 31 m @ 0.73 g/t Au from 120 m; and hole SAN-05-6, 10 m @ 0.97 g/t Au from 64 m. Three drill holes are planned on the Diloutang prospect. Southwestern Resources Corp. has completed a preliminary resource assessment on the Boka Gold Project located in Yunnan Province. The reported indicated and inferred mineral resources for Boka-1 and Boka-7 targets are10.4 Mt @ 2,88 g/t Au and of 45.8 Mt @ 2.75 g/t Au, respectively. Nine drill rigs are currently on site conducting infill and step-out drilling at Boka 1 and will commence step-out drilling at Boka 7, along with drill testing of other targets. A prefeasibility study is contemplated for the near future. Tianshan Goldfields Limited has been exploring its Gold Mountain project, northwest China. To date, a total of 14,897 m in 86 holes have been drilled, including 9,122 m at Yelmand (56 holes), 4,385 m at Jinxi (16 holes), 1,192 m at Mayituobi (13 holes) and 196 m at Kezele (1 hole). Better intersections at Yelmand include hole YEL010, 14 m @ 1.51 g/t Au from 23 m; hole YEL020, 46 m @ 1.35g/t Au from 28 m; hole YEL021, 29 m @ 1.08g/t Au from 11 m; hole YEL022, 31 m @ 1.01g/t Au from 13 m; and in hole YEL026, 50 m @ 1.11g/t Au from 21 m. At Jinxi, better intersections include hole JX-025, 32 m @ 2.65g/t Au from 32 m, and 70 m @ 1.68g/t Au from 80 m; hole JX-027, 50 to page 30 ... EXPLORATION REVIEWS
Page 1 and 2: Celebrating a Century of Economic G
Page 3 and 4: OCTOBER 2005 • No 63 SEG NEWSLETT
Page 27: DAY 1 - Saturday, May 13, 2006 SEG
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SEG 45 Final_qx4 - Society of Economic Geologists

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