Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Cerrado Gold, a privately-owned Toronto-based mining and exploration company, will start applying a combination of geoscience and machine science to clean, unify and analyze data to target exploration at its Minera Don Nicolás project in Argentina.
To do so, the miner has engaged GoldSpot Discoveries (TSXV: SPOT) whose experts will work with Cerrado’s technical team to integrate and analyze geological and remote sensing data available in the area.
The process will explore the potential for gold mineralization within the property to produce “GoldSpot Smart Targets”
In a press rerelease, the companies said that the process will explore the potential for gold mineralization within the property to produce “GoldSpot Smart Targets.” These two-dimensional and three-dimensional targets fuse geoscience knowledge with data science insights.
“Our initial view that there is an abundance of opportunity for many additional deposits at MDN has only been confirmed since our acquisition,” Mark Brennan, Cerrado’s CEO and co-founder, said in the media brief. “Goldspot’s experience in the Deseado Massif and its technical processes will be of immeasurable assistance in uncovering priority targets.”
Located in the mineral-rich Deseado Massif in the province of Santa Cruz, the 273,000-hectare Minera Don Nicolás project is an open-pit gold mine with an associated 1,000 tpd carbon-in-leach gold recovery plant, aimed at producing 50-60koz/yr gold doré.
Current operations are focused on two mining areas, La Paloma and Martinetas, with material processed at a central plant facility.
