Dylan Breslin reports that for investment purposes, mineral exploration companies are often divided into two categories ... Greenfield and Brownfield exploration stocks. Greenfield Exploration relies on a conceptual idea about where a mineral deposit might be found and how much time and money is required to verify if mineralization is there. This form of exploration is considered the riskiest but also can be the most profitable usually because, in general, there are lower land costs. This is also termed grass-root exploration. Brownfield exploration geologists look for deposits near or adjacent to a producing mine. This is also termed near-mine (Trend)exploration used by the staff at Teton Exploration based in Casper, Wyoming.
During the interval from 1979 through 1990, Gold Fields Mining primarily conducted Greenfield Exploration for gold. The writer, Arthur Leger, asserts that Gold Fields was the most successful exploration company in U.S. history by utilizing the Greenfield Exploration approach. Examples of major Greenfield gold discoveries by Gold Fields include: The Mesquite Gold Mine ~ 8-10 million ounces of gold The Chimney Creek Gold Mine ~ 8-10 million ounces of gold The Mule Canyon Gold Mine ~ 2-3 million ounces of gold The Pipeline Gold Mine ~ 10 million ounces of gold The discovery of the Chimney Creek Gold Deposit, now part of Newmont Twin Creek Gold Mine, is credited to the imagination, persistence, exploration techniques and team work of three Gold Fields exploration geologists: Steve Brown, Paul Tietz and John Zimmerman. Good read ...
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