{"id":2376,"date":"2019-10-02T19:51:01","date_gmt":"2019-10-02T19:51:01","guid":{"rendered":"https:\/\/www.gsnv.org\/shop\/the-case-for-exploration-in-nevada-what-it-takes-to-be-successful\/"},"modified":"2020-02-24T18:17:18","modified_gmt":"2020-02-24T18:17:18","slug":"the-case-for-exploration-in-nevada-what-it-takes-to-be-successful","status":"publish","type":"product","link":"https:\/\/www.gsnv.org\/shop\/the-case-for-exploration-in-nevada-what-it-takes-to-be-successful\/","title":{"rendered":"The case for exploration in Nevada: What it takes to be successful"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"<p>Why explore in Nevada? The obvious reason is because Nevada is \u201cPrime Elephant<br \/>\nCountry.\u201d Nevada has been the leading gold producer in the United States since 1980<br \/>\nand presently ranks as the third largest producer in the world, behind South Africa and<br \/>\nAustralia. Twelve of fifty-four (or 22%) of the world-class base- and precious-metal<br \/>\ndeposits discovered in the world during a 25 year period from 1970 to 1995 came from<br \/>\nNevada. Because elephants are known to travel in herds, Nevada became and continues<br \/>\nto be ranked high on the priority list as the place to hunt for multi-million ounce gold<br \/>\ndeposits. So when looking for elephants, why not stay in elephant country?<br \/>\nAs is the case in all businesses, you either grow or die, there is no standing still.<br \/>\nThe only way to grow in the mining business is to add reserves and the only way to<br \/>\nadd reserves is through acquisition or discovery. Historically, exploration has been<br \/>\nthe preferred method for adding reserves, but as corporate downsizing of the mineral<br \/>\nexploration industry became commonplace in the 1990\u2019s, mergers and acquisitions<br \/>\nbecame the preferred method for major mining companies to add \u201cnew\u201d reserves.<br \/>\nHowever, \u201cGrowth through mergers cannot be sustained for very long and, at best, it<br \/>\nis a short-term fix\u201d (Freeman, 1996). The obvious way for a company to offset this<br \/>\nshort-term fix is to explore for and discover its own ounces. But because rapid reserve<br \/>\nand production increases has become more important to major mining companies<br \/>\nthan long term success, these companies have eliminated exploration geologists in<br \/>\norder to afford acquisitions. This reduction of exploration geologists working in the<br \/>\nfield makes it impossible to discover those new ounces. Hence, Nevada Pacific Gold<br \/>\nwas founded as a pure exploration company, based on the belief that the cheapest<br \/>\nounces you can mine are those that you can find.<br \/>\nSo how do mining companies maintain rapid growth and still maintain long-term<br \/>\nsuccess? The key to a successful long-term strategy is a corporate commitment to<br \/>\nreducing both production and discovery costs. In addition to boot leather, a rock hammer<br \/>\nand a drill rig, the \u201cten round clip of ammunition\u201d that elephant hunting teams<br \/>\nneed are: 1) adequate and consistent funding over a reasonable time period; 2) dedication<br \/>\nof the group to finding economic gold deposits; 3) competent geologists and leadership;<br \/>\n4) a judicious selection of high quality projects; 5) allocation of a large portion<br \/>\nof exploration budgets to drilling; 6) excellent communication and team work up and<br \/>\ndown the corporate ladder; 7) ability to make decisions with an absolute minimum<br \/>\namount of delay; 8) flexibility in organizational structure and in budget allocation; 9)<br \/>\nlong term patience; and 10) good relationships between major and junior companies.<br \/>\nWith the above mentioned \u201cbullets\u201d in hand, an exploration team can track down<br \/>\nthat elephant, take aim, slowly squeeze the trigger and bag themselves a multi-million<br \/>\nounce gold deposit, thereby providing their company with the true wealth that discovery<br \/>\nbrings.<\/p>\n","protected":false},"featured_media":4714,"comment_status":"closed","ping_status":"closed","template":"","meta":{"pmpro_default_level":""},"product_cat":[154],"product_tag":[],"_links":{"self":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product\/2376"}],"collection":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product"}],"about":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/types\/product"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/comments?post=2376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/media\/4714"}],"wp:attachment":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/media?parent=2376"}],"wp:term":[{"taxonomy":"product_cat","embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product_cat?post=2376"},{"taxonomy":"product_tag","embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product_tag?post=2376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}