(Un) Certain Exploration Facts from Figures

This paper is an attempt to place Canadian Precambrian volcanogenic deposits in perspective, by examining and compiling data regarding certain neglected fundamentals of size, grade, value, frequency distribution and spatial density. The discovery roles played by various exploration methods are compared and contrasted, and. using empirical methods, the probabilities of discovery are discussed, combined with the use of an effective 'cost-per-target' program. From these basic observations, realistic exploration judgments may be made. Using similar methodology, this format may be applied to other types of deposits. Precambrian volcanogenic deposits occur in a natural geometric progression in size. They number 110, of which 70% are pre-producers, producers or past-producers. These deposits are bonanzas and generally have a 'net pre-smelter' value of between $43 and $62 per ton. The statistically typical deposit is that which occupies the modal position, has 400,000 tons of ore, a value of $20 million and occurs with a frequency of 40%. A median deposit has 1.4 million tons of ore, a value of $70 million and occurs with a frequency of 15%. An upper-decile deposit ha s 13.3 million tons of ore. a value of $750 million and occurs with a frequency of 6.5%. The major, mid-upper-decile deposits have a minimum of 50 million tons of ore, a value of $3 billion and occur with a frequency of 4%. Five major volcanogenic deposits occur in the Precambrian and account for 54% of production. This contrasts with 55 deposits (all below the median) which account for 3.9% of production.