Gold exploration budget topped 6 Billion 2012

Gold exploration budgets increased drastically since 1999, reaching an all-time high of more than $6 billion in 2012, but the total amount of precious metal found in major discoveries fell short of replacing global production, shows a report by SNL Metals Economics Group.

While it is too early to judge the success of recent exploration, says the report, data for 1990-2012 reveals that miners' annual discovery-oriented gold exploration budget more than doubled between 1990 and 1997 from $930 million to about $2.2 billion.

According to the document, exploration budgets fell in 1998 along with gold prices to recover by 2003, jumping an average of 31% annually until last year. Read More at Source

Gold Mining Museum in Dahlonega Georgia

I recently ran across this interesting video about gold mining and the Museum in Dahlonega Georgia. I thought that it was worth sharing. I really like the information provided on historical mining in the area and the very first gold rush in North America. This is a good presentation on old mines and equipment that are over 100 years old and still operating!
Hope you enjoy it.

There is a short advertisement at the beginning  that plays before the video, it comes from the source.

Link To Video of Museum in Dahlonega Georgia

Rice lake Area Manitoba - Gold Exploration Continues

The Rice Lake Gold Camp situated in the southeast region of Manitoba, is one of the areas that has recently witnessed the discovery of exceptional new gold deposits. These new discoveries are large in scope and are being made with a truly amazing frequency. Back in January I blogged on the gold exploration and new discoveries taking place in the Rice Lake area of Manitoba. That post was titled High Grade Gold Discoveries Continue in Manitoba.

Since that time several companies have made announcements of increased exploration work at properties located in the Rice Lake Greenstone Belt, while San Gold Corp the active gold mining company in the region has continued to advance new discoveries made on it's Bissett area properties.

On March 18th 2010 EagleRidge Minerals Ltd announced that it would commence diamond drilling on it's wholly owned Hannes project. 

An Exert from the EagleRidge Press Release.

EagleRidge Minerals Begins Drill Program on the Hannes Gold Project in Southeast Manitoba

March 18th, 2010 - Pinawa, Manitoba

EagleRidge Minerals Ltd. (“ERM” or the “Company”, or “EagleRidge”) is pleased to announce that it has started a 1000 metre drilling program on the Hannnes Gold Project in the Rice Lake greenstone belt of southeast Manitoba.

The Hannes Gold Project consists of a claim package of 9403 hectares of claims in the western portion of the Rice Lake greenstone belt approximately 30 kilometres west of Bissett. The Company completed a Phase 1 exploration program during the summer of 2009 of field mapping, prospecting and geochemistry on the southern and western portion of the claim package where three gold showings were uncovered. Best gold values graded up to 6.1g/t. The field work in 2009 covered one third (1/3) of the property. The remainder of the property will be mapped and sampled during the 2010 summer exploration season. Further details are available from the Eagleridge website and from previous news releases on the Hannes Project.

A 1000 metre drill program will be carried out on the Gnomes Shear Zone and the Beaver Pond Zone. Drilling will be conducted by Bodnar Drilling of Manitoba using NQ-sized core under the direct supervision of Tim Tuba, P, Geo, (Exploration Manager, EagleRidge Minerals Ltd). Historical exploration in the region by other companies on the Gnomes Shear has traced the shear for 1200 metres with a thickness of 10-20 metres. Historically the best grades from surface channel sampling of the veins were 0.32 oz/ton Au over 3.7 metres and 0.72 oz/ton Au over 1.2 metres. The shear remains open on either direction and at depth. All past drilling was of a shallow nature. There is no record of drilling on the Beaver Pond Showing.

The purpose of this exploration program is to drill test the same structure but at a deeper depth. The greenstone belt region as a whole has benefitted from deeper drill holes which have encountered better gold mineralization at depth from that which was previously known from surface. It is expected that the drilling will be completed and results returned to the Company by the second week in April. On completion of the drill program, an independent technical report will be issued by the Company.

Click Here for full EagleRidge March 18th News release in PDF format

Happy Prospecting