Unearthing the Past: Paleoplacer Gold Deposits and the Unique Potential of the Pardo Gold Project
Gold mining has long been an industry of global importance. It fuels economies, advances technologies and is used as a store of wealth. Among the various types of gold deposits, paleoplacer gold deposits are an interesting phenomenon and host the largest gold deposit in the world, the Witwatersrand Basin. These are ancient deposits, formed millions to billions of years ago and differ significantly from traditional hard rock gold deposits.
Let’s explore how paleoplacer gold deposits form, the scale of these deposits, and their advantages for mining. We will also spotlight and look at the potential of the Pardo Paleoplacer Gold Project, which offers an example of such a deposit in North America, the first of its kind.
What Are Paleoplacer Gold Deposits?
Paleoplacer gold deposits are ancient concentrations of gold grains formed in sedimentary environments such as rivers and beaches. Water transports the gold grains and as the rivers and streams slow, the heavier gold particles settle into layers of sand and gravel, which are then compacted into solid rock over geological time. These deposits are typically hosted in conglomerate “reefs” and can span over vast areas with consistent gold content.
Key characteristics of paleoplacer gold deposits include:
Age: Dating back millions to billions of years, paleoplacer deposits are some of the oldest known gold occurrences.
Geology: Their formation takes place in ancient sedimentary rocks such as riverbeds or beaches
Size: Paleoplacer deposits can be vast, making them attractive for large-scale operations.
Notable examples of paleoplacer gold deposits worldwide are listed in the table below illustrating their location, grade and size.
Mining Advantages of Paleoplacer Gold Deposits
Compared to traditional gold mining methods, paleoplacer deposits offer several operational advantages:
Large, Continuous Reefs: The lateral continuity of gold-bearing layers, often flat, simplifies exploration and extraction.
Efficient Processing: Gold grains are often coarse and free within the rock, requiring less complex processing techniques.
Spotlight on the Pardo Paleoplacer Gold Project
The Pardo Paleoplacer Gold Project, situated 65 km northeast of Sudbury, Ontario, is North America’s largest and most advanced paleoplacer gold occurrence. With a property spanning over an impressive 190 square kilometres, Pardo stands out for its geological uniqueness and low cost resource development and mining potential.
Unique Geological Features at Pardo
Shallow Gold Reefs: The flat-lying reefs at Pardo range from 1 to 4 meters in thickness and are found at depths of 0 to 50 meters, making them exceptionally accessible.
High-Grade Channels: Exploration has yielded impressive results, with highlights including 36.5 g/t gold over 31 meters in the 007 Zone and 5.2 g/t gold over 140 meters in the Godzilla Zone.
Excellent Metallurgy: Gold occurs free in matrix, 70% recovery by gravity and 95% recovery of gold overall.
Low Cost Resource and Mining Potential at Pardo
Pardo’s resource development and mining methods have several strategic advantages:
Reduced Drilling: Shallow deposits require less drilling and therefore less capital needed to develop a resource.
Surface Mining: Mining at surface is cheaper. It also allows for selective mining of high-grades.
Underground Room & Pillar Mining: Shallow underground mining of a flat orebody can be done by room and pillar, an optimal mining method with minimal development, high productivity and the ability to selectively mine for high-grades.
Ore Sorting Potential: Advanced sorting technologies could reduce tonnage, increase the gold grade all while minimizing energy use.
Pardo’s Operational and Economic Edge
Inventus Mining’s Pardo Project has the potential to deliver robust economic and operational benefits:
Quick Development: Simple geology at surface accelerates the transition from exploration to production.
Location: Being located 65km northeast of Sudbury, a global mining hub, provides advanced infrastructure, supply chains and a legacy of global mining expertise allowing Inventus to more efficiently explore, develop and potentially bring a mine into production.
Low Risk High Profitability: Low cost resource and surface mining development coupled with the ability to selectively mine high grades ensures competitive returns.
Comparing Pardo to Traditional Mining
Unlike deep shaft mining or extensive open-pit operations, which are energy-intensive and disruptive, Pardo’s approach leverages its shallow flat lying paleoplacer for potential low cost mining.
A Vision for the Future
The Pardo Paleoplacer Gold Project highlights the significant potential of paleoplacer gold deposits. It offers a rare opportunity in gold mining, characterized by shallow, flat-lying gold reefs that are both easily accessible and potentially cost-effective to extract. Boasting exceptional grades, favourable metallurgy, and the possibility of employing low-cost surface and underground mining methods, Pardo presents a promising development opportunity. Its unique attributes position it as a low-risk, quick-to-develop project with minimal environmental impact, setting it apart from its peers.