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GOLDFIELDS EXPLORATION
Rob Taylor, GM Exploration
Exploration Strategy in an Evolving CompanyExploration Strategy in an Evolving CompanyThe Goldfields ExperienceThe Goldfields Experience
GOLDFIELDS EXPLORATION
Exploration
And God help you if you get it wrong!
Explore in the Bust to Produce in the Boom...
GOLDFIELDS EXPLORATION
Kundana
M16/157
KUNDANA MINE LEASES
Pope John
Moonbeam
Charlie
Romeo
Juliet
BarkersPit Strezelecki
Pit
South LodePit
Fault
MineralisedStructure
Prospect
ResourceN
1 kilometre
GOLDFIELDS EXPLORATION
Raleigh
GOLDFIELDS EXPLORATION
Raleigh Stage 1 Pit Looking North
Raleigh VeinGabbro Volcanics
Paleochannel sands and alluvial fans
Alluvial Fans
Silcrete
Approx.Paleochannel
Limit
GOLDFIELDS EXPLORATION
Goldfields Share Price 1995 - 2001
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
3/0
7/9
5
3/1
0/9
5
3/0
1/9
6
3/0
4/9
6
3/0
7/9
6
3/1
0/9
6
3/0
1/9
7
3/0
4/9
7
3/0
7/9
7
3/1
0/9
7
3/0
1/9
8
3/0
4/9
8
3/0
7/9
8
3/1
0/9
8
3/0
1/9
9
3/0
4/9
9
3/0
7/9
9
3/1
0/9
9
3/0
1/0
0
3/0
4/0
0
3/0
7/0
0
3/1
0/0
0
3/0
1/0
1
3/0
4/0
1
Date
Aus
tral
ian
Dol
lars
GOLDFIELDS EXPLORATION
Goldfields - major changes since 1997
• Collapse of parent RGC; merger with Westralia Sands
• Takeover threats
• Heavy demand on cash
• Takeover of Gilt Edged Mining NL
• Major drought at Porgera
• Short mine lives at Henty, Paddington and Kundana
• Internal restructuring and cuts
• Separation of Goldfields
GOLDFIELDS EXPLORATION
Goldfields Exploration is expected:
• to discover economic mineralisation
• under attractive financial conditions
• in an area conducive to development
GOLDFIELDS EXPLORATION
Objectives for Goldfields Exploration
• Significantly increase resources at the Paddington,
Kundana and Henty mines
• New stand-alone deposits for growth
GOLDFIELDS EXPLORATION
The Exploration Pyramid
DISCOVERYDISCOVERY
FEASIBILITYFEASIBILITY
RESOURCE DEFINITIONRESOURCE DEFINITION
ID MINERALIZATIONID MINERALIZATION
ANOMALY TESTINGANOMALY TESTING
ANOMALY GENERATIONANOMALY GENERATION
PRE - FEASIBILITYPRE - FEASIBILITY
ENTRY/ENTRY/
DEVELOPMENTDEVELOPMENT
PROPERTY ACQUISITIONPROPERTY ACQUISITION
INP
UT
INP
UT
GENERATIVE INPUTGENERATIVE INPUT
ENTRY BARRIERENTRY BARRIER
FAIL
UR
E
FAIL
UR
E
GOLDFIELDS EXPLORATION
The Exploration Pyramid 1997
DISCOVERYDISCOVERY
FEASIBILITYFEASIBILITY
RESOURCE DEFINITIONRESOURCE DEFINITION
ID MINERALIZATIONID MINERALIZATION
ANOMALY TESTINGANOMALY TESTING
ANOMALY GENERATIONANOMALY GENERATION
PRE - FEASIBILITYPRE - FEASIBILITY
ENTRY/ENTRY/
DEVELOPMENTDEVELOPMENT
PROPERTY ACQUISITIONPROPERTY ACQUISITION
Old PloughOld PloughDamDam
MoriartyMoriartyMungariMungariKurrawangKurrawang
LeilaniLeilani
AphroditeAphrodite
BTZBTZ LTZLTZ
NorthlanderNorthlanderBonnievaleBonnievale
AnthonyAnthonySouth HentySouth Henty
Z15Z15
MountMountJuliaJulia
GOLDFIELDS EXPLORATION
Changing Economic Conditions
• BreEx fraud - gold price collapse - Asian crisis
• Continued squeeze on gold - cash is king
• Dose of realism
• Rush into dot com(ic)
GOLDFIELDS EXPLORATION
Goldfields Exploration Strategy
• Identify highly prospective districts
• Aggressively explore
• Acquire the ground
GOLDFIELDS EXPLORATION
Where Are We Now?
DISCOVERYDISCOVERY
FEASIBILITYFEASIBILITY
RESOURCE DEFINITIONRESOURCE DEFINITION
ID MINERALIZATIONID MINERALIZATION
ANOMALY TESTINGANOMALY TESTING
ANOMALY GENERATIONANOMALY GENERATION
PRE - FEASIBILITYPRE - FEASIBILITY
ENTRY/ENTRY/
Castle Hill, RayjaxCastle Hill, Rayjax
DEVELOPMENTDEVELOPMENT
Zuleika (general)Zuleika (general)
PROPERTY ACQUISITIONPROPERTY ACQUISITION
ParadigmParadigm
AphroditeAphrodite
CharlieCharlieValhallaValhalla
BTZ ScotiaBTZ ScotiaTemoraTemora
TasmaniaTasmania
MinaraMinara
RaleighRaleigh
GOLDFIELDS EXPLORATION
Bardoc Tectonic Zone - June 1997
KALGOORLIE
PADDINGTONPADDINGTON
00 1010 2020
kilometreskilometres
NN
KUNDANAKUNDANA
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
Wendy GullyWendy Gully
PangloPanglo
GOLDFIELDS EXPLORATION
Bardoc Tectonic Zone - June 1999
KALGOORLIE
PADDINGTONPADDINGTON
00 1010 2020
kilometreskilometres
NN
KUNDANAKUNDANA
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
Broad ArrowBroad Arrow
AphroditeAphrodite
GOLDFIELDS EXPLORATION
Bardoc Tectonic Zone - March 2001
KALGOORLIE
PADDINGTONPADDINGTON
00 1010 2020
kilometreskilometres
NN
KUNDANAKUNDANA
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
Golden CitiesGolden Cities
SiberiaSiberia
AphroditeAphrodite
GOLDFIELDS EXPLORATION
Sill Zone
Zone 96
Intermediate Zone
Mount Julia
Henty ShaftHenty Shaft
Gold PlantGold Plantand Officesand Offices
Henty Mine, Western TasmaniaLongitudinal Projection - 1997
MJ02032.3m at 7.0g/t Au
Area of mineralisation
NORTHSOUTH
metres
0 500
GOLDFIELDS EXPLORATION
Sill Zone
Zone 96
Intermediate Zone
Zone 15
Tyndall Zone
Mount JuliaMount Julia South
Henty ShaftHenty Shaft
Gold PlantGold Plantand Officesand Offices
DeclineDecline
Henty Mine, Western TasmaniaLongitudinal Projection - 2001
NORTHSOUTH
Resource
0 500
metres
GOLDFIELDS EXPLORATION
Zuleika - June 1997
KUNDANAKUNDANA
KALGOORLIE
PADDINGTONPADDINGTON
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
00 1010 2020
kilometreskilometres
NN
GOLDFIELDS EXPLORATION
Zuleika - June 1999
KUNDANAKUNDANA
KALGOORLIE
PADDINGTONPADDINGTON
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
00 1010 2020
kilometreskilometres
NN
ParadigmParadigm
GOLDFIELDS EXPLORATION
Zuleika - August 1999
KALGOORLIE
PADDINGTONPADDINGTON
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
00 1010 2020
kilometreskilometres
NN
KUNDANAKUNDANA
RomeoRomeo
GOLDFIELDS EXPLORATION
Zuleika - June 2000
KALGOORLIE
PADDINGTONPADDINGTON
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
00 1010 2020
kilometreskilometres
NN
KUNDANAKUNDANA
WadiWadi
Mick AdamMick Adam
RayjaxRayjax
RomeoRomeo
GOLDFIELDS EXPLORATION
Zuleika - March 2001
KUNDANAKUNDANA
KALGOORLIE
PADDINGTONPADDINGTON
KANOWNA BELLEKANOWNA BELLE
SUPER PITSUPER PIT
00 1010 2020
kilometreskilometres
NN
Catherwood,Catherwood,PremierPremier
RalieghRalieghABC Line, PegasusABC Line, PegasusRubicon, HornetRubicon, Hornet
WhiteWhiteFoilFoil
CuttersCuttersRidgeRidge
MoonbeamMoonbeam
GOLDFIELDS EXPLORATION
Exploration