Exploration is "Research & Development" for the mining industry, an endeavor essential to satisfying future global demand for metals and to the long-term survival of major mining companies.
We remain committed to providing exploration "blue sky" and potential for discovery to our investors, but to limit exploration risk, we adopted a set of risk-reducing strategies including:
- Taking new looks at known properties and former mines, building on historic data.
- Acquiring district-scale properties with the potential to host world-class deposits.
- Adding value through exploration and forming JVs with larger companies and/or experienced mine operators.
We regard our participation in the Butte Highlands Joint Venture, where gold production is targeted for 2013, as a model for future opportunities in underground mine development and mining.