Review Of Unconformity Control On Gold-Bearing Conglomerates

INTRODUCTION This review deals with the controls exerted by unconformities on the stratigraphic and areal distribution of gold (and uranium) in Precambrian conglomerates. The relations described are drawn mainly from Precambrian basins in southern Africa, particularly the Witwatersrand Basin. The mining industry of South Africa started in earnest with the discovery of diamonds in 1866. Gold was first discovered in 1870, and in March of 1886, two out-of-luck prospectors stumbled across what was to become the world's greatest goldfield, in the vicinity of Johannesburg. George Harrison and George Walker sold their claims for a pittance and were heard of no more. The Witwatersrand goldfield has been in continuous operation since that time, some 150 mines having operated at one time or another. Deep mining technology developed here has allowed operations to proceed to depths approaching 13,000 feet. The Witwatersrand has produced some 55% of all the gold ever mined, and currently produces 60% of the world's supply, some 650,000 kg Au per year. To 1971, the Witwatersrand had produced some $32 billion of gold and $2 billion of uranium (when average prices were less than $35/oz. for Au and $10/lb. for U308). At present prices, the annual Witwatersrand production of close to 700,000 kg would be worth about $10 billion. Uranium was discovered in the Witwatersrand in 1923. In the $15-30/lb. bracket, the basin contains a reasonably assured plus