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By Gérald Riverin

Over the past century, exploration methods for volcanogenic massive sulphide deposits have evolved in response to a decreasing number of discoveries made by traditional surface prospecting and by ground and airborne geophysics. Statistical trends support the concept that fewer and fewer outcropping and sub-cropping VMS discoveries will be made in the future. In turn, this creates new opportunities to develop more sophisticated exploration models and techniques to explore at greater depth and to make blind discoveries. Current exploration models include various combinations of geological, geochemical and geophysical criteria which have been based on the results of land-based VMS research. The role of seafloor research in the development of these models has so far been only of a subordinate nature, perhaps due to a lack of direct involvment of the exploration industry in the seafloor research, and vice-versa for the seafloor researchers in VMS exploration. Another contributing factor is that exploration relies on exploration criteria that result from detailed geological, geochemical and geophysical studies of both footwall and hanging wall rocks, studies that are not possible in modern sea floor environments. Nevertheless, seafoor research has contributed to our understanding of the growth of sulphide mounds, the mechanism of sulphide deposition and of the chemistry of fluids involved in VMS systems. In particular, the role of structure and of tectonic setting has been clarified through observation of active seafloor hydrothermal systems. In turn, observations made in land-based VMS research has helped seafloor researchers to focus on key issues which, will eventually contribute to improved exploration models.

Jan 1, 1998

By Stephen J. Juras

The Myra Falls deposits comprise a complexly metal-zoned polymetallic volcanogenic massive sulfide district located 90 km from Campbell River in central Vancouver Island, British Columbia, Canada. The massive sulfide deposits are hosted by subaqueously-deposited rocks of the Devonian age Myra Formation of the Sicker Group volcanic assemblage. The deposits comprise many individual massive sulfide lenses grouped into several major zones within two main felsic volcanic stratigraphic intervals - the upper Lynx-Myra-Price Horizon and the lower H-W Horizon. The largest of these zones, the H-W and Battle, occur within the H-W Horizon. The first claims in the area of what is now Boliden-Westmin?s Myra Falls Operations were staked in 1917. Early prospecting resulted in the discovery of three massive sulfide showings which eventually became the Lynx, Myra and Price mines. Sporadic exploration was carried out until 1961 when Western Mines Ltd. (now Boliden-Westmin Ltd.) acquired the claims. Subsequent ore definition outlined 1.9 million tonnes of ore (approximately 5 years of mine life) in the Lynx deposit, and mining began in 1966. Pre-mining geological reserves (to January 1, 1997) comprised 6.7 million tonnes grading 3.3 g/t Au, 130.6 g/t Ag, 2.0 % Cu, 1.4 % Pb and 10.2 % Zn for the Lynx-Myra-Price deposits, 17.1 million tonnes grading 2.3 g/t Au, 32.7 g/t Ag, 2.3 % Cu, 0.3 % Pb and 4.2 % Zn for the H-W deposits and 4.2 million tonnes grading 1.1 g/t Au, 27.0 g/t Ag, 2.2 % Cu, 0.5 % Pb and 12.0 % Zn for the Battle deposits. Property-wide production to January, 1996 has been 15.7 million tonnes grading 2.1 g/t Au, 58.7 g/t Ag, 1.9 % Cu, and 5.2 % Zn.

Jan 1, 1998

By James M. Franklin

Research on modern hydrothermal systems provides quantitative measures of the processes of formation of hydrothermal fluids and of precipitation mechanisms from them. Studies of ancient deposits provide new information regarding volcanological processes that are related to the deposits, as well as data on their spatial and temporal compositional variations. Mew exploration guidelines result from both aspects of research. The most fundamental requirement for large metalliferous hydrothermal systems is an abundant heat supply for the upper two kilometers of the crust. This heat may come from a focused heal source (shallow-level subvolcanic intrusion), but ambient heat also may have provided enough energy for the reactions necessary to effect leaching of metals, especially where heat flow is particularly high (i.e. very large or high-temperature magmatic source, such as ultramafic environments). For most VMS systems, the majority of the metals were derived through leaching from footwall strata; in addition interstratal fluids may enter subvolcanic intrusions during episodes of magma a chamber "cracking," engendering some '?magmatic" component in the hydrothermal system. Direct contributions of metalliferous magmatic fluid also may be significant from arc-related or back-arc felsic or alkalis systems. These latter contributions may form exceptionally high - grade portions in some deposits. Subvolcanic intrusions, which are excellent indicators of high heat flow and may have been the direct driving mechanisms for some stems undergo two stages of alteration: On intrusion emplacernent. fluids may rapidly enter and react with their mesostatic portions, evident in the sills in the Middle Valley. High temperature interactions caused albitization and destruction of oxides and sulfides, releasing metals. During terminal hydrothermal stages, the metalliferous fluid collapsed into the intrusions, forming disseminated and vein sulfides.

Jan 1, 1998

By Tony van der Steen

Subsea mining system are designed for the following, principally different, tasks: Dreding - The destruction and removal of seabed sediments overlaying the bedrock. Cleaning - The competence of the system to systematically remove the deposits from an undulating hard bedrock with irregular pulleys, channels and fissures. Factors that influence the choice of dredging equipment for a specific project are project requirements such as environmental conditions, location and water depth. However, the most important selection criteria are soil conditions. As a consequence, possible dredging systems, must be evaluated for the following, principally different, characteristics: Dredging proficiency - The destruction of the strata by the equipment. System stability - The capability of the soil to support the subsea equipment The above parameters are determined by the strength characteristics and the bearing capacitv_ of the soil. The author describes the processes involved in excavating the subsea deposits and (transporting the gathered soil as a water-soil mixture to the surface using different excavation and transport methods.

Jan 1, 1998

By Peter M. Herzig

In 1994 and 1998 the German research vessel R/V Sonne undertook detailed mapping and sampling of the largely uncharted offshore areas of the Tabar-Lihir-Tanga-Feni island chain in the New Ireland Basin of Papua New Guinea. The New Ireland Basin occupies a fore-arc position with respect to the formerly active Manus-Kilinailau arc-trench system and hosts a series of Pliocene to Recent alkaline volcanoes which are built on rifted Miocene sedimentary basement. Several of the volcanoes possess high-level porphyry stocks and active geothermal systems, including gold-depositing hot springs and the giant (40 million ounces) Ladolam gold deposit on the island of Lihir. On the southern flank of Lihir island, a group of three volcanic cones were discovered at water depths from 1.000-1.500 m. The volcanoes are located in a narrow zone of recent seismic activity and elevated heat flow (up to 100 mW/m2). The recovered volcanic rocks consist of fresh alkali-olivine basalts, clinopyroxene-rich basalts (ankaramites), porphyritic phlogopite basalts, and trachybasalts. Unusual gold-rich hydrothermal precipitates were recovered from the summit of the 600 m high Conical Seamount located only about 10 km south of Lihir Island. 1200 kg of sampled material systematically collected with a TV-guided grab from the top plateau (150 x 200 m, 1.050 m water depth) are intensely mineralized with pyrite, marcasite, minor sphalerite, chalcopyrite, galena, tennantite/tetrahedrite, and orpiment/realgar together with traces of anglesite, cerrusite, and amorphous silica in stockwork-like veins. Bulk samples of the vein mineralization consist mainly of clays, silica, and disseminated sulfides, and have an unusual high gold content ranging from 1.2-44.0 ppm Au. In some of these samples, grains of native gold (about 1 micron in diameter) were identified by SEM in pyrite and sphalerite. The gold-rich material also contains high concentrations of silver (up to 1000 ppm) and typical epithermal elements such as As (2.6 wt.%), Sb (0.2 wt.%), and Hg (34 ppm). Similar to epithermal deposits on land, which usually have only low base metal contents, the samples from Conical Seamount contain only minor amounts of Zn (max. 4.5 wt.%), Cu (2.0 wt.%), and Pb (2.0 wt.%). Many of the samples recovered from Conical Seamount are virtually identical to the gold ore at Lihir.

Jan 1, 1998

By Alexander Malahoff

The summit of L_ihi submarine volcano changed dramatically after seismic activity beneath L_ihi during the month of August 1996. Bathymetric re-surveys of the L_ihi edifice using SeaBeam, Simrad and deep-towed Reson-Focus multibeam systems showed the presence of new north-south striking fissures, normal faults and a new pit crater located at the site of a former 300-meter high volcanic cone. Comparisons between the pre-1996 SeaBeam data and the new bathymetry show a net loss of about 100 million cubic meters of rock volume on the summit. This loss is localized at a new pit crater -- the 300-meter deep by 1,300-meter wide Pele's Pit. Submersible observations with Pisces V show the northern edge of Pele's Pit to be bounded by a normal fault located north of the site of the former Pele's Vents cone that has disappeared into the new pit crater. A new hydrothermal field, the Ikaika Vents, extending from a water depth of 1,311 meters to 1,287 meters has formed at the northeastern edge of the floor of Pele's Pit. Submersible observations of these new Ikaika Vents during September 1996 showed vigorous venting at the site with extensive white-colored bacterial mats hanging off the rock face above the vents. Follow-up mapping and sampling of the vent sites during August 1997 showed vent temperatures of up to 198°C, dense populations of vent shrimps around the vents and a centimeters-thick veneer of fine-grained polymetallic sulfide mineralization along the rock walls above individual vents. The mineralogy of the sulfides shows a barite, chalcopyrite, sphalerite, and pyrite composition.

Jan 1, 1998

By Tetsuo Yamazaki

Metal market prices rose drastically in 2006, and most broke historical records as shown in Figs. 1-4. This increase has been basically driven by economic growth in Asian countries, especially China. The growth trend is expected to continue for several years. Then, India will follow the same growth trend. Their metal demands keep the price levels high for 20 years or more. One more additional important factor on the metal market prices is hedge funds come into the market. Japan imports all metals for domestic use from overseas. The amounts imported were 1.27 million tons in copper, 0.32 million tons in lead, 0.59 million tons in zinc, 0.20 million tons in nickel, and 1.18 million tons in manganese, respectively in 2006 (Source: http://www.jogmec.go.jp/j_resourse/index.html#03). Though mainly we import the concentrates and our domestic customer smelters take the part of metallurgical leaching, the payment necessary for purchasing the concentrates is estimated about US$ 10 billions in 2006. The payments in 2005 and in 2003 were about a half and a quarter of the 2006, respectively. Japan must have effective counter measures to reduce the future payments.

Sep 24, 2006

By S. Rajendran

The area of the Exclusive Economic Zone (EEZ) of India is about 2.014 million km2 and the resource evaluation of placer deposits is one of the objectives of Government of India. Placers are detrital metallic minerals found on beaches and in the near shore areas. Quantitatively more important are placer deposits of light heavy minerals such as zircon, ilmenite and rutile. Rivers and other drainage channels are the main carriers of the placers which contain heavy minerals like magnetite, ilmenite, garnet, zircon, monazite, rutile etc. The present beach as well as part of the shelf was land during Pleistocene as a result of the world wide lowering of the sea levels. The coast line shifted a number of times. Hence, the heavy mineral placers on the beaches are expected to extend to offshore areas chiefly with Pleistocene lowered sea level strands. India has extensive deposits of heavy mineral placers along the beaches. Placer deposits of heavy minerals occur in discontinuous patches on the beaches along many parts of the east and west coasts. Along the central west coast of India (12??N - 19? N lat.) the placer containing 14 - 17% ilmenite form an estimated reserve of 4 million tons. On the Ratnagiri coast of Maharashtra, the proportion of heavy mineral varies between 54 and 70% in the bulk samples, consisting mainly of 14 - 39% magnetite and 16 - 30% ilmenite. The National Institute of Oceanography (NIO) surveys show that the sediments off the central west coast consist largely of silty sand, sand silt and clay. The core samples show that a reddish brown clay overlay olive gray clay which in turn overlay heavy mineral rich sands. The heavy mineral concentration ranges upto 90% and has mainly ilmenite and magnetite with minor quantities of apatite, rutile, zircon, kyanite etc. Siddiquie et al. reported 42 - 75% TiO2 in the ilmenite.

Jan 1, 1998

By Richard H. T. Garnett

Marine mining on the continental shelf was first attempted in 1900 for gold off the beaches of Nome, Alaska. Attempts continued until 1990 with cutter-suction, airlift and bucket-ladder dredges. Offshore Thailand profitable production of tin resulted from clamshell, bucket-ladder and trailing suction hopper dredges. Today in Indonesia numerous bucket-ladder dredges continue to mine tin. Off the coast of Namibia and South Africa nearly a dozen large and medium sized vessels are engaged in diamond production. The obvious risk results from the working environment. Vessels and lives have been lost in the past. At best the availability of mining equipment is reduced. Leaving aside the marketing and financing aspects, otherwise the most important risks are technical. They manifest themselves as diamond production short-falls with obvious financial consequences. Bias and deficiencies in sampling equipment and procedures may result in misleading grade estimates, even serious under-estimation. Inadequate sampling in terms of sample support and density may result in over-optimistic grade determinations, especially if under-sized mining blocks are outlined. Quantitative measurement of the geotechnical characteristics of the sediments to be mined is an essential stage in a feasibility study. Without a full understanding of the bedrock profile and the overlying sediments the ease, completeness and speed of excavation during the mining process cannot be properly estimated. Both historically and at present the greatest negative discrepancies from production estimates result, not from grade shortfalls, but from significantly lower mining rates than thought possible by the operators. The learning curve in marine, production mining is steeper and longer than is generally recognised by newcomers to the industry. Examples are provided from tin, gold and diamond mining experiences.

Jan 1, 1998

By Richard H. T. Garnett

On the western continental shelf of southern Africa diamonds derived from onshore sources are concentrated in gravels within drowned terrestrial and marine geomorphological features. First discovered offshore in the late 1950's, they are known to exist for about 1400 km along the Namibian and South African coast in water depths of up to 200 m. Shallow water operations yielded 1.5 Mct during the decade ending 1970 when De Beers acquired a majority of the offshore leases and commenced a 15 year exploration program. Deeper water and the prevailing sea conditions required the development of new, unique, marine mining equipment. The first large scale mining production of 22 kct was achieved by De Beers in 1989 with an output of 22 kct. Annual marine output from all sources now exceeds 0.6 Mct worth some US.$ 170 M, and rising to 0.7-0.8 Mct for 1998. Exploration has also been taking place in the waters of West Africa, Australia, and Indonesia. Exploration is by means of high resolution geophysics followed by sampling using a variety of drills, airlifts and seabed-mounted machines which imitate the eventual mining process. Surveying is now probing depths of 500 m. Smaller scale mining by several junior companies has traditionally involved diving and airlift systems. Increasingly, however, they are adopting different and improved techniques which to date have been employed only by De Beers Marine as contractor to Namdeb. Marine exploration and unit mining costs are high compared to those applicable to alluvial deposits onshore. By 1996 the total development costs incurred by De Beers alone reportedly had exceeded US.$ 500 M. However, the financial rewards are commen-surate because of the higher recovered grades. The operations are not without risk for the total of nearly 10 large and medium scale production vessels deployed by various organisations. The greatest shortfalls are experienced in the estimated throughput, not the grade.

Jan 1, 1998

By Raymond A. Binns

The Eastern Manus Basin (EMB) contains three major active hydrothermal zones and a number of smaller occurrences of hydrothermal deposits, and can be considered as a regional-scale modern analogue for volcanic-hosted mineral fields on land. Unlike the central Manus Basin, a back-arc spreading zone with some MORB-like basalt-hosted massive sulfide deposits, the EMB is a pull-apart rift zone between two transform faults, where a basement of Eocene-Oligocene arc crust is being thinned by extension, with rapid sedimentation on the tilted fault blocks. Present-day submarine igneous activity in the EMB, with which hydrothermal activity is associated, has arc geochemical affinities and is related to subduction of the Solomon Sea Plate at the New Britain Trench. Overall, hydrothermal deposits in EMB are found with lavas ranging from picritic basalt to rhyodacite in composition, although the two major occurrences of massive sulfide are hosted by the more siliceous dacite and rhyodacite variants. Some volcanic edifices are central eruptions, mostly of porphyritic lavas or domes, while others are elongate ridges formed by fissure eruption in which the typically aphyric lavas were very fluid. Evidence for shallow-level fractional crystallisation controls of lava chemistry implies presence of subjacent differentiated intrusions or former magma chambers. Seismic tremor at one site during the nearby 1994 Rabaul eruption suggests magma movement in the chamber.

Jan 1, 1998

By Mark D. Hannington

Drilling of the active Trans-Atlantic Geotraverse (TAG) deposit during ODP Leg 158 indicated that the size of the mound-stockwork complex is approximately 3.9 million tonnes, including 2.7 million tonnes of massive and semi-massive sulfide (ca. 2% Cu) at the seafloor and 1.2 million tonnes of mineralized breccias (ca. 1% Cu) in a subseafloor stockwork. Quartz-pyrite veining in the stockwork zone extends from about 40 meters below seafloor (mbsf) to a depth of 95 mbsf. Siliceous wallrock breccias in the lower part of the stockwork grade abruptly into chloritized basalt breccias at the margins of the mineralized zone, and massive sulfides at the flanks of the deposit onlap relatively unaltered, partially hematized basalts. The pipe-like dimensions of the stockwork zone do not exceed the diameter of the sulfide mound. Comparisons with samples collected during earlier dive series confirm that the vent complexes at the surface of the mound are not representative of the bulk composition of the deposit. Dramatic vertical zonation of metals within the mound suggests that a long history of hydrothermal reworking has effectively stripped the constituents that are soluble at lower temperatures from the massive sulfides and concentrated them at the top of the deposit through a process of zone refining.

Jan 1, 1998

By Anthony Wakefield

Dredging tends to be either horizontal or vertical. In each case solids have to be disengaged from the deposit, mobilized, acquired and elevated or translated. One means of elevation is the airlift. Elevation and translation of essentially granular material nay be by jet pump or centrifugal pump. Any of the three types may be used on its own. The airlift and jet pump may he combined for vertical transport and the centrifugal and jet pumps for predominantly horizontal. Both suction point and pipework must have a means of deployment from the surface or from a submerged vehicle or merely a diver. An airlift is an energetic system, having a source of energy and a means of storing it. It therefore will be difficult to prevent oscillation -surging. A centrifugal pump has a characteristic that bends over at low flow rate and is therefore intrinsically unsuitable for pumping solids. The result is blockage, operation at high velocity and correspondingly high wear rates or operation at low concentration of solids and correspondingly low efficiency. The jet pump is intrinsically exceptionally stable but has a low hydraulic efficiency. The jet pump-airlift hybrid prevents or reduces surging and increases system efficiency away from the optimum depth for airlift operation. Delivered solids concentration is increased. The jet pump-centrifugal pump hybrid totally prevents pipeline blockages and increases the productivity from a given pipeline size. For a given energy input the average production is typically doubled. For example, the Indian River Delaware bypassing pipeline transmits an overall day-in-day-out average of 500t/h (tonnes) of sand down a 10.86" diameter line.

Jan 1, 1998

By Julian Malnic

Transplanting the steps used in exploring and developing mineral deposits on land into the marine environment will help developers. While familiar to oil and gas explorers and many other sea-based industries, the marine environment is so alien to the 90s terrestrial miner that the phrase ?terrestrial mines in the sea? is useful for reinforcing the fundamental parallels in mining sulphides at sea and on land. As on land, the processes of ?pre-feasibility study? and ?feasibility study? will determine the economics of mining a deposit. For many, the step into the sea can detract from the need to follow these familiar and recognised steps used when any new deposit is found on land. The technology to mine sulphides in the 1500 to 2000 m depth range exists. Currently, it is not found in a single, integrated and commercially available system but every element available to build such as system is. Transplanting the thinking of the leaders of the terrestrial mining industry into the sea will perhaps be the greatest challenge and reinforcing the basic steps of discovery - pre-feasibility through to feasibility is the best way to achieve this. After all on land one doesn?t ask ?Can we profitably mine it?? before one can authoritatively answer ?What have we found??. Research by Nautilus Minerals Corporation suggests that the mining of seafloor massive sulphides (SMS) will not only be profitable but potentially lower in both capital and operating costs than prevail in most terrestrial deposits. Nautilus is also acutely aware that with the first SMS deposits under title, it will be setting the standards for seafloor mining into the new millenium. Indeed, we have trained on us not only the eyes of the mining industry waiting to see if SMS deposits really do offer radically better returns, but other stakeholders of the sea and the capital markets. Mistakes by any SMS developer could land all developers in ?hot water?. The rush to exploit our deposits for economic gain will be tempered by ensuring there is adequate public debate and consultation for our environmental code. Failure in any facet of a marine mining development could set back the move to the ocean floor.

Jan 1, 1998

By Hunsoo Choi

Internal textures of manganese nodules from Clarion-Clipperton zone of northeastern Pacific Ocean are classified into five textural zones: columnar-textured layered zone, cuspate-textured layered zone, cuspate-textured massive zone, cuspate-textured porous zone and massive- textured massive zone. Vernadite is the main constituent mineral in the columnar- and cuspate-textured layered zone. Buserite sometimes occurs in the cuspate-textured layered zone. The cuspate-textured massive zone is mainly composed of buserite. Todorokite is also associated with buserite in the massive-textured porous zone, where cuspates and globes are partially replaced by massive texture. In the massive-textured massive zone, todorokite, buserite and birnessite occur together. The analyzed elements of all zones are also classified into four elemental groups by the cluster analysis of correlation coefficients: Mn group, Cu-Ni-Mg group, Fe group and Si group. Mn group consists of Mn and K. Cu-Ni-Mg group consists of Cu, Ni, Zn, Mg and/or Ca, Na. Fe group consists of Fe, Co, Ti and/or Ca, P. Si group consists of Si and Al. Each textural zone is composed of three or four elemental groups. These four elemental groups are correlated with mineral composition, such as, Mn group with todorokite, Cu-Ni-Mg group with buserite, Fe group with Co-bearing iron-oxyhydroxide minerals, and Si group with silicates.

Jan 1, 2002

By Stephan K. Schwank

In mid 1993, Bauer Spezialtiefbau GmbH, based in Germany got the order to develop a sampling tool capable of penetrating all different types of seabed sediments including cobbles and boulders and into bedrock. BHP and their partners Benguela Concessions Ltd., had been convinced by the Bauer Trench Cutter Technology and a large scale test in Germany that this system will be the right one to fulfill their expectations for sampling the diamond area off the coast of Namibia. The technique of the tool is based on Bauer's standard cutter technology, which is widely used for the installation of cut-off and diaphragm walls all around the world. The two counterrotating cutter wheels with 12.1 tom torque each cut an area of 3 x 1.2 m (up to 3 x 3 m are possible). The material mixed with seawater was then pumped to the separation plant on board the vessel Geomaster with a capacity of approximately 700 m3/h. Cutter wheels and mud pump were mounted on a special cutter frame and connected by wire ropes and hydraulic hoses to the vessel. An outer frame with four telescopic legs supported the cutter vertically on the uneven seabed and allowed a controlled penetration of the tool up to 6 m into the diamond bearing ground. The tool required a total power installed of approximately 800 kW. All hoses, the 6-inch mud hoses as well as the hydraulic hoses, were stored and compensated on drums on board suitable for a water depth of up to 200 m. Launch and recovery of the tool was effected through the moon pool of the vessel and the 25 m high, special designed drill tower. The 65? to sampling tool had been commissioned in early 1994 in Cape Town. After intensive testing the sampling programme of more than 4000 holes could be successfully completed by January 1995.

Jan 1, 1998

By Luc Rombouts

The resources and reserves calculation of marine diamond deposits should be based on a systematic sampling grid. The distribution of the sample grade results tends to be very skew and has a large variance. A bias is easily introduced due to the fact that the grade distribution of the samples is very different from the grades of the area of influence. The temptation is always there to extrapolate the highest grade samples simply to their area of influence. If this is done, the higher grade areas will be systematically overestimated, while the lower grade areas will be underestimated. Such a bias should surely be avoided by weighing the sample grades in such a way with their neighbours, so that the estimated grades have a similar distribution as the grades of the blocks. The grade distribution of small mining blocks tend to be lognormal-like. If the coefficient of variation is known, i.e. the standard deviation divided by the mean, then the grade distribution of the small mining blocks is relatively well-defined. The distribution of the diamonds within the deposits can be simulated, based on the histogram of the sample results and on the semivariogram. The diamonds tend to cluster in trapsites. From the semivariogram and the histogram, the average size and spacing between trapsites, and the grade distribution within the trapsites, can be calculated using the model of the General Family of Discrete Distributions. Using such a simulated deposit, the grade distribution for different block sizes can be obtained. The grade distributions become more lognormal-like with increasing block sizes, as the trapsite effect is reduced.

Jan 1, 1998

By Michael R. Gipp

Marine Mining Inc. is currently exploring for marine alluvial gold and diamonds on a prospecting licence over a concession that covers 10,000 km2 of the continental shelf of Ghana. The boundaries of the concession extend from 0 30'W to 2 40'W, and between the shoreline and approximately the continental shelf edge north of 4 30'N. This concession extends from Kikam Beach in the west, to Senya Beraku in the east, a distance of approximately 240 km, and seaward an average of about 40 km. The concession is entirely underwater, with the exception of the estuaries of the Ankobra and Pra Rivers. Ghana has been a large source of alluvial gold, with historical production exceeding 25 million ounces. Southwestern Ghana is characterized by Precambrian rocks, which have been folded into a number of NE-SW trending synclines and anticlines. The most significant feature of the Birimian rocks is the presence of evenly spaced gold-bearing greenstone belts. They are 10-15 km wide, separated by about 90 km, separate basins filled by folded metasediments and granitoids. The rivers that enter the concession drain most of the exposed gold-bearing belts of Ghana. Given that approximately 2 km of erosion has taken place since the Mesozoic, and that gold mines on these belts boast proven reserves of over 55 million ounces, it is likely that large amounts of gold have been eroded out and carried to the sea. Coastal fractures, related to Precambrian structures reactivated during Mesozoic rifting, are responsible for the physiography of the coastal area, which consists of high-relief horsts separated by grabens that have been occupied and infilled by rivers or by finer sediments during times of elevated sea level. These fractures were loci of gold mineralization during the Precambrian, and are the source of alluvial gold in rivers confined by them.

Jan 1, 1998

By Yves Fouquet

Results of the two main drilling operations on hydrothermal fields demonstrate that the two dimensional submersible operations need to be followed by drilling expeditions to study the third dimension of hydrothermal systems and understand hydrothermal and ore forming processes. Two types of environments were drilled recently in basaltic environment on slow spreading ridge, and on a sedimented ridge. Similar work has still to be done and targets to be discussed in other environments such as back-arc basins for felsic rocks environments and slow spreading ridges for ultramafic rock environments.

Jan 1, 2011

By Justin C. I. Baulch, Robina Sharpe, Steven J. Downey, John P. Feenan, Kate M. Perrin

Since becoming a public company in October 2005, Neptune Minerals has continued to advance its primary aims. Major achievements in the last year have been: • Successful completion of two simultaneous New Zealand exploration programs, Kermadec 2007 (K-07) and Colville-Monowai 2007 (CM-07); • New discovery of an inactive SMS field on the Rumble II West seamount; • Focused exploration license applications over quality areas of known SMS mineralization in arc and back-arc settings in Japan, Vanuatu, Papua New Guinea (PNG), Northern Marianas Islands (CNMI), Palau, and Italy; • Granting of licenses covering some 200,326 km2 of arc and back-arc within the EEZ of PNG and the Federated States of Micronesia (FSM); • Targeting of an additional mineralization style with extensive applications in PNG covering Conical Seamount-style Au-rich epithermal mineralization; • Welcoming Newmont Mining, one of the World’s largest mining companies, as a major shareholder; • Commissioning a scoping study to investigate options for mining and processing of SMS; Marine Minerals of the Pacific: Science, Economics and the Environment UMI2007 · The University of Tokyo, Japan Baulch 2 37th Underwater Mining Institute · 15-20 October 2007 • Invitation to contribute to, and participate in, the Meteor M73/2 Tyrrhenian Sea research program. The Company has granted exploration licenses covering 263,000 km2 in New Zealand, FSM and PNG, and a further 362,000 km2 under application in Japan, PNG, Vanuatu, Northern Mariana Islands, Palau and Italy.