Ranking mineral exploration targets in support of commercial decision making: A key component for inclusion in an exploration information system

Abstract

An exploration information system (EIS) is a way of creating, and managing exploration targets and should include the entire process from conceptual mineral system models to, modelling the mineral system using available data, to generation of targets or prospect areas. The main goal for any EIS is to help find new mineral deposits that are economic to mine and process at the financial conditions of the time. Prioritisation and management of exploration targets is a key to success in mineral exploration, particularly with the increasing use of mineral potential modelling techniques, including AI, which can generate a large number of targets in a study area for testing. In this paper, we present ideas for the components for an EIS designed to optimise the mineral exploration process and provide critical decision-making support. The Macquarie Arc porphyry copper-gold mineral system in New South Wales is used as an example to illustrate how such a system can be developed and implemented. Accepted mineral potential mapping workflows are used coupled with a targeting process that generates, attributes, and ranks prospect areas to produce exploration targets. The proposed front-end of the EIS is an Exploration Management Dashboard, which can be used by executives and managers to facilitate informed decision-making and optimal allocation of capital. We advocate for a standardised system capable of accommodating various commodities, input datasets, and diverse analytical techniques, including AI-driven methods and validation tools. Flexibility for user customisation, especially for non-technical users, and real-time data integration are seen as an essential part of any EIS. Furthermore, the system is designed to be dynamic, with continuous updates and improvements as new data are collected, ensuring that exploration is always focussed on the areas with the greatest potential prospectivity.