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There is no good news! The market environment for raising capital for resource projects is getting tougher. The regulatory and accounting environment is fast becoming more difficult and the hurdles to successfully raising debt, lease, equity or hybrid finance are now considerably higher. As ever, well structured companies and capital issues can and will survive, if not thrive. An outline of the market and regulatory environment for successful issues is set out below, followed by some comparison of stockmarket values of resource assets compared to more technical appraisals.

Jan 1, 1990

By Claude Hubert, Alex C. Brown, Michel Richard, Rejean Sirois

"The Pierre Beauchemin gold deposit, situated 15 km NW of Rouyn-Noranda, produces an average of 1050 tonnes of ore a day. Reserves are 1.2 Mt grading 5.6 g/t Au. The deposit, located in a shear zone within the Flavrianpluton, in the Blake River Group, is hosted by four major rock types: meta-trondhjemite, meta-tonalite, hybrid rocks and meta-diorite (the prefu; ""meta-"" is omitted thereafter). The trondhjemite, tonalite, and metamorphic hybrid rocks are spatially distributed as a series of sub-horizontal tabular sills that form a genetically related group. Early fractures that permitted either the emplacement of pre-diorite felsic dikes or the formation of a visible alteration caused by early fluid circulation might have been developed in response to initial strain created during regional deformation. These fractures were precursors to the emplacement of diorite and the development of major shear planes. Sub-horizontal north-trending en échelon diorite lenses are observed at the mine. Together, these diorite lenses constitute larger scale diorite zones which are observed at the scale of the pluton. The diorite zones are interpreted as evidence of an episode of sub-vertical extension sustained by the layered trondhjemite, tonalite and hybrid system. The anisotropy created by the less competent sub-horizontal en échelon diorite was an important factor. In shear zone development and subsequent mineralization. The tonalite and diorite accommodated further defomation and developed the main N030°/40° ESE shears along with the spatially associated N060°/50°-60° SSE, and the N000°/10°-40° E shear zones. The N000° shears are interpreted as refracted or deflected equivalents of the N030° shears. The combined shears compose the Eldrich shear system which trends approximately N030°/40° ESE and has had a general reverse movement with a minor sinistral component.Gold mineralization occurs in all four major rock types as en échelon sigmoidal shaped lenses associated with the major N030° deformation system. The distribution of ore lenses can be divided into two categories: The first category occupies sub-horizontal diorite zones. The lenses trend N-S, dip 100 40° E, and are associated with shear zones, sub-horizontal fractures or tonalite-diorite contact planes. The second category of lenses is found in felsic granitic rocks; the lenses trend either N0300!40°ESE or N060°/50°-60° SSE. Local hydraulic breccia zones are observed near ore zones occupying felsic granitic rocks. These breccias may have resulted from high fluid pressures brought upon by confinement as a result of impermeable zones in an anisotropic tonalite-diorite system."

Jan 1, 1990

By J. Kazakoff

"The success of gold recovery at the Jolu gold mill depends on many variables. The most important ones are the people, the ore body, plant design parameters, equipment selection and cost control. This paper will briefly hiqhlight the above, the main focus, however will be on the gravity gold circuit.The gravity circuit requires judicious operator attention in order to operate properly. In return the circuit gives immediate visual results for mill peopleIntroductionThe development of the Jolu property to the production stage was carried out quickly, efficiently and economically. The property became a gold producer ahead of schedule and under budget.The Jolu property is a joint venture between International Mahogany Corp., a 70% partner, and Corona Corporation, a 30% partner. Corona Corporation operates the Jolu Gold Mine, located 140 kilometers north of LaRonge and 520 kilometers north of Saskatoon."

Jan 1, 1990

By Bruce E. Nesbitt, Paul G. Lhotka

At Lupin mine gold is spatially and genetically linked to zones of hydrothermal alteration in iron-formation which are symmetrically developed adjacent to late Archean quartz veins. Immediately adjacent to the veins, coarse grained, typically gold- and sulfide-poor, calc-silicate rocks are often present. These rocks comprise hedenbergite + quartz ± grossular garnet ± epidote ± scheelite ± calcite. Sulfides (pyrrhotite, arsenopyrite and loellingite) and gold are concentrated in the next zone and occur with hornblende-rich rocks comprised of hornblende, quartz, hedenbergite and grunerite. Furthest from the veins are gold- and sulfide-poor, grunerite-rich iron formation comprising grunerite, quartz, hornblende and sometimes magnetite. Although the alteration assemblages have similarities with skarns, they develop in iron formation, and are at best indirectly related to intrusive igneous rocks. Geological and geochemical data clearly indicate the calc-silicate rocks are metasomatic in origin.

Jan 1, 1990

By Jaffrey Y. Foley

Placer gold and platinum-group metals (PGM) In the Slate Creek area, northern Chistochina Mining District, are derived from silicified and carbonate-altered, Cretaceous-Tertiary (?) dikes and related mafic and ultramafic rocks. Gold In the placer deposits is also derived from Tertiary conglomerate and altered Jurassic-Cretaceous argilllte. The argilllte and Igneous bedrock sources show a unique Ag-Au-Cu-Hg-PGM association that Is attributed to a combination of magmatic, hydrothermal, and supergene processes. The bedrock and placer deposits contain a variety of gold silver-lead-copper and PGM alloys. The observed geochemical, mineralogic, and alteration features are consistent with current geological models for turbidite-hosted gold deposits. No economic gold or PGM lodes were Identified, but several areas warranting more detailed investigation were Identified. Conventional geochemical sampling and analysis of small sample splits weighing between 10 and 30 grams were shown to be unreliable as a consistent means of identifying gold- and PGM-bearing bedrock. Pan concentration of pulverized rock samples was shown to be a more effective, but still Imperfect means of Identifying gold and PGM source rocks. Geochemical data and mineralogic examination indicate that gold and PGM in potential lode sources are very finely and erratically disseminated, are chemically combined with other elements, and may not be entirely free-milling or amenable to simple gravity concentration.

Jan 1, 1990

By E. Gutierrez-Miravete

Hot pressing processes are widely used to shape metallic, ceramic, and glass components. The process is an essential step in manufacturing ceramic fibre-glass matrix composites. The paper describes the use of computer simulation by the particle method, to the analysis of the deformation and flow of glass during hot pressing. The hot glass is represented by an assembly of interacting particles which deform in response to the applied pressure. The results, which should be regarded as complementary to continuum-based studies, provide useful insight about the hot pressing process.

Jan 1, 1990

Magmatism is of first order significance in the extension process. Continental extension is terminated when sea-floor spreading commences, but sea-floor spreading will not commence if magmas do not begin to arrive in sufficient volumes. In the oceanic lithosphere, the rate of magma supply may determine whether sea-floor spreading takes place, or lithospheric extension as the result of normal fault arrays. In continental crust thickened as the result of previous compressional orogeny, the availability of magma may determine a completely different process. The author has examined metamorphic core complexes in a number of tectonic environments, in the North American Cordillera, in the Aegean Sea, Greece, and in the Solomon Sea, Papua and New Guinea. What these terrains have in common is a major collisional orogeny predating a major extensional event. The "roll back" of the lithospheric flexure associated with subduction can be seen as the "driving force" for extension in two of these cases. Metamorphic core complexes in these environments are characterized by domal exposures of crustal scale ductile shear zones, underneath which massive plutonic complexes have been formed. Emplacement of these plutons is associated with anatexis of the surrounding rocks. Migmatite complexes are well developed in the Aegean and Solomon Sea core complexes, and in some core complexes in the Basin and Range. Chains of core complexes can be explained as the result of basaltic and andesitic magmas derived from a linear belt of relatively hot rising asthenosphere, in a zone of attempted continental "break up". It is argued that core complexes are the results of magmas derived from relatively short lived mantle "hot spots" impingeing on extending continental crust which has been overthickened during previous compressional orogeny.

Jan 1, 1990

By Blom MS

Two well-developed styles of mineralization occur in the Nevados del Famatina mining district, Famatina ranges, La Rioja province, Argentina. Porphyry molybdenum- copper-gold mineralization and high level acid sulphate alteration/mineralization (Nevados del Famatina) are related to intrusion of the Pliocene Mogote rhyodacite porphyry complex. High sulphidation epithermal mineralization (La Mejicana) is developed peripheral to the Nevados del Famatina deposit. Both are hosted mainly by the Ordovician Negro Peinado metapelites.At Nevados del Famatina, five mineralized fracture events have been identified and correlated with four distinct alteration assemblages. Stage I (barren quartz) and stage II (molybdenite¦sphalerite¦pyrite) mineralization are associated with a K-silicate alteration assemblage of K-feldspar+biotite+quartz+magneti te¦ilmenite¦anhydrite. Stage III (bornite+pyrite+sphalerite+molybdenite ¦chalcopyrite¦idaite) and stage IV (chalcopyrite+pyrite +sphalerite+gold¦tennantite-tetrahedrite) mineralization are related to a quartz-sericite assemblage of quartz +phengite+illite+pyrite+rutile. Stage V mineralization is divided into two substages. Stage Va (chalcopyrite +pyrite+sphalerite¦ tennantite-tetrahedrite ¦ tellurides ¦ gold ¦enargite¦famatinite¦stibnite¦molybdenite) is related to a sericite-clay assemblage of quartz+illite+kaolinite ¦montmorillonite¦alunite. Alunite-kaolinite alteration (alunite+pyrophyllite+kaolinite+ aluminum - phosphate -sulphate minerals ¦illite¦fluorite¦corundum¦anhydrite) occurs in the upper part of Nevados del Famatina associated with the later stage Vb (quartz+famatinite +chalcopyrite+covellite + chalcocite ¦ marcasite ¦ enargite ¦ luzonite¦sphalerite¦melnikovite) mineralization.

Jan 1, 1990

By Frank E. Chase

Geologic structures have been responsible for numerous underground accidents and fatalities, and are a constant-source of down time. During - longwall mining, ground control problems associated with geologic anomalies are aggravated by the abutment pressures which develop as the panel is retreated. Therefore, it is imperative that these structures be recognized and properly supported in head- and tailgates. Fractures, faults, clay veins, igneous dikes, and ancient stream channels (paleochannels) disrupt the lateral continuity of the mine roof and can cause falls in gateroads. Horsebacks and kettle bottoms are also hazardous because abutment pressures tend to "pop out' these structures into the gateroads. This Bureau of Mines investigation describes the physical characteristics associated with hazardous geologic structures, identifies the coal fields where-they have been observed, and, where possible, suggests support strategies and other mine plan modifications to help minimize their effect.

Jan 1, 1990

Detailed mapping in the Permian-Triassic clastic sediments of the Southern Alps delineates a number of strike-slip faults, both dextral and sinistral, associated with the major Alpine Fault to the west and displacing a tight array of fault blocks. Concurrent steeply plunging folds are deforming early major folds of probable Cretaceous age, and generating schist locally. To the east a major collapse zone has developed along the crest of a Cretaceous anticline, located over an ancient Permian submarine scarp, with a number of small normal faults. Further east, extensive Carboniferous to Triassic rocks of much the same appearance are exposed as horsts and grabens in a large possible extension zone through central and east Canterbury. This may have crept incrementally from Cretaceous from the offshore Bounty Trough to reach the eastern margins of the Southern Alps in the Pleistocene.

Jan 1, 1990

By C. W. Whitten

Iron ore deposits in south-central Missouri have emerged as a possible resource for the rare-earth elements. The Pea Ridge Iron Mine is one such deposit. Rare-earth minerals at the Pea Ridge Iron Mine are contained in breccia pipes consisting primarily of silicon oxides and feldspars. These pipes extend up through the magnetite ore body and appear to be alterations and replacement of earlier hematite. The mineralogy of these pipes is very complex and varied, which could complicate the concentration and extraction of the rare-earth minerals. This U.S. Bureau of Mines !eport represents a study by characterization of the mineral phases to assess the amenability and development of concentration and extraction techniques. Previous characterization of rare-earth minerals has been mainly by transmitted light microscopy. This method along with reflected light microscopy, scanning electron microscopy, and X-ray diffraction was used to identify and characterize the rare-earth and associated minerals. The minerals identified were the major ore minerals, magnetite and hematite; the rare-earth phosphates, monazite and xenotime; the rare-earth silicate, allanite; the minor associated minerals, cassiterite, pyrite, and apatite; and the gangue minerals, feldspar, quartz, and actinolite.

Jan 1, 1990

By Yves Gagnon, Nicole Gauthier, Daniel Kelly, Michel Rocheleau

"The Larder Lake-Cadillac Tectonic Zone in Rouyn-Beauchastel area (a 20 km long segment) contains distinct lithotectonic units bounded by artastomosing or sub-parallel shear zones. The gold deposits in the area are located within highly strained portions of E-W striking shear zones. The ore-zones are structurally controlled disseminated and vein-type lodes. They are spatially related either to megascopic z-shaped folds which refold E-W shears, or to areas of intersection between E-W shear zones and late NE-striking faults. Several ore bodies are enclosed within ultramafic rock units or at their contacts with adjacent units. All the lenses are elongated down dip and distributed, both loterally and vertically, ""en echelon"" . The ore zones tend to decrease in size and number away from the hinge zone of the megascopic z-shaped folds.Two main styles of mineralization are recognized at the Astoria deposit and at for most of the deposits in the Rouyn-Beauchastel segments a discontinuous ""Carbonate Ore"" and a more continuous, albitic sulphide-bearing ""Flow Ore"" (terminology used at the Kerr Addison mine).The typical ""Carbonate Ore"" zones are found within strongly arbonatized blocks bounded by conjugate late NE or NNW-striking fralls. The carbonatized blocks display features characteristic of llrittle to brittle-ductile deformation developed in shear zone system. Vein systems in the ""Carbonate Ore"" occur within shear fractures(D R)tension fractures (T), or within brecciated rocks adjacent to NS llrilcing faults. The ""Carbonate Ore"" zones are displaced by numer IU lole E-W, NNE, NW and N-S faults.The ""Flow Ore"" zones are found within predominantly ductile portions of E-W shear zones. The sulphide mineralization is finely disseminated and regularly distributed within mylonitic foliation or associated with veins and veinlets sub-parallel or oblique to the mylonitic foliation, in which case the mineralization is coarser grained. The gold mineralization is a late Archean event postdating the formation of the penetrative fabric, and synchronous with the end of the dextral oblique-slip motion."

Jan 1, 1990

By I. Chatterjee

The application of microwaves has a demonstrated potential for the ultimate removal of water from fine coal. The principle of microwave drying of fine coal is based on the selective absorption of microwaves by water. Coal is a poor absorber of microwaves. As a result, water can be removed from fine coal by selectively heating water molecules. One of the difficult problems drilling microwave heating is the exact determination of temperature in the core of the materials. The electromagnetic energy absorption in coal/water mixtures during microwave drying is controlled by several factors including the dielectric properties of the constituents. In this paper the dielectric properties of various ranks of coal are presented as a function of frequency and moisture content. The measured dielectric data are incorporated into electromagnetic and thermal models of coal which predict the energy absorption and temperature distribution during microwave heating.

Jan 1, 1990

By Patrick J. Hannigan

The pile foundation designer typically performs a subsurface exploration program and static pile capacity calculations before selecting a pile foundation type, length, and capacity. During construction, a pile installation criterion must be established to meet these design requirements. This installation criterion usually consists of a minimum penetration resistance or blow count to confirm pile capacity and may also include a minimum embedment requirement. This text will focus on use of wave equation analysis and dynamic measurements to meet design requirements. BEFORE THE WAVE EQUATION Since the mid-1800s, over 450 dynamic formulas for pile driving control have proliferated. In their simplest form, these formulas relate hammer energy to the work of soil resistance, or simply: W ? h = R ? s (1) Where W = ram weight h = ram drop height or stroke R = pile capacity s = pile penetration per blow

Jan 1, 1990

The consideration of environmental constraints and issues is a fundamental component of all stages of planning, development, operation and decommissioning mining and quarrying projects. Provision needs to be made at all stages for the cost of environmental components since it is of fundamental importance that they be recognised as an integral component of any project. This paper presents an approach to environmental costing, suggested levels for budgeting, and the cost benefits.

Jan 1, 1990

By Large RR

Underlying the 15 million tonne, high grade Hellyer volcanogenic massive sulphide deposit of western Tasmania is an extensive, well developed, and well preserved stringer system. Pervasive alteration of the footwall mafic volcanics occurred as the hydrothermal system initiated. Mineralogical zoning exists within the footwall alteration pipe, with a central siliceous core giving way to zones of chlorite, chlorite-carbonate, sericite-chlorite, and finally sericite-quartz on the margins (stringer envelope zone). However, the alteration morphology and zonation is not symmetrical around the central siliceous core; eastward the alteration zones are steeply dipping and terminate abruptly under the massive sulphide, while westward they extend out under the ore body in a blanket fashion. Geologic evidence indicates that the pervasive alteration started with the development of sericite-quartz which was subsequently overprinted by chlorite and finally quartz-sericite as the hydrothermal system became focused towards the centre of the stringer system.

Jan 1, 1990

By T. R. C. Aston

Extensive undersea coal reserves, identified in the offshore portion of the Sydney coalfield, Nova Scotia, have resulted in the implementation of a multi-year research program to develop site specific guidelines for the undersea longwall mining operations. At present, uncertainty exists regarding the applicability of the current undersea mining guidelines. Preliminary studies have revealed four potential schemes for monitoring seafloor longwall subsidence profiles: seasurface, subsea, geophysics, and direct monitoring. However, further work has indicated that the use of marine geophysical techniques may be the most effective method of identifying and evaluating seafloor subsidence profiles by comparing pre- and post-mining seafloor topographies.

Jan 1, 1990

By David W. Cannon, Russell V. Mann

In a dispersion of particles in liquid a net charge will develop at the particle-liquid interface. This surface charge is usually due to the adsorption of charged material from solution. The existence of this surface charge gives rise to the formation of the electric double layer of counter-ions which surrond the charged particle. The particle surface charge and the electrostatic repulsion which exists between similarly charged particles is the primary stabilization mechanism for lyophobic colloids (1). The separation of charge which occurs at the particle-liquid interface gives rise to several dynamic phenomena associated with colloidal systems or with solid-liquid interfaces in general. These phenomena are known as electrokinetic phenomena and the four classic electrokinetic phenomena are; electrophoresis, electroosmosis, streaming potential, and sedimentation or Dorn potential. The actual driving force for electrokinetic phenomena is not the surface charge per se, but the charge at the interface between the liquid which is hydrodynamically bound to the particle surface and the bulk fluid. This interface is known as the slipping plane or the plane of shear and the potential at this interface is the zeta potential (2). The factors linking the electrokinetic phenomena is that they involve a relative motion between the liquid and the charged particle or solid surface and the driving force is the zeta potential of the solid. In addition to the four classic electrokinetic phenomena there are two additional electrokinetic effects in disperse systems; the electro-acoustic effects. When an alternating electric field is applied to a cooloidal dispersion the particles will move in the field due to their net zeta potential. If there is a density difference between the particles and the fluid this motion will result in the development of an acoustic wave. The effect was discovered at Matec and has been termed the Electrokinetic Sonic Amplitude or ESA (3). ESA is the pressure amplitude generated by the colloid per unit applied electric field strength and has SI units of pascals per volt per meter. When an alternating pressure field (acoustic wave) is applied to a colloidal dispersion the inverse of the ESA effects occurs. A density difference between the disperse phase and the continuous phase leads to a relative motion between the particles and the surrounding liquid. This means that there will be a periodic displacement between the charged particle and the oppositely charged counter-ions in the electric double year. This displacement results in the development of an alternating dipole moment at the frequency of the applied field. This effect is termed the Ultrasonic Vibration Potential or UVP and was first predicted for electrolyte solutions by Debye in 1933 (4). UVP is measured in units of volts per unit velocity amplitude of the applied acoustic field or volts per meter per second. In 1938, Rutgers (5) and Hermans (6) pointed out that the effect would also be present in colloidal dispersions. A detailed theory for UVP effects in colloids, also called CVP, was first presented by Enderby in 1951 (7). Extensive studies of the UVP in electrolytes have been carried out by Yeager et al (8). Recently, O'Brien (9) has developed a general theoretical treatment of electro- acoustic effects in colloids and has derived a reciprocal relation linking ESA and CVP effects. The most commonly studied electrokinetic phenomena is electrophoresis. Electrophoresis is the movement of charges particles in an applied electric field. The velocity of the particle divided by the applied electric field strength is the electrophoretic mobility of the particle. The zeta potential can be calculated from this mobility (2). The magnitude of both the ESA and CVP effects are directly proportional to the electrophoretic mobility of the particles. The mobility determined by the two electro-acoustic effects is the dynamic or AC mobility of the particles.

Jan 1, 1990

By R. Kent Comann

The sixth survey on the mining industry by Comann Associates provided data for entry-level and midlevel engineers as well as executive officers. Average 1989 compensation - base salary and anticipated bonus - for chief mining executive officers or chief mining operating officers: $237,943. This is an increase of 20% over the results of the last survey, on 1985 compensation. The latest survey also showed that bonuses for chief mining executive officers averaged 33% of base salary. Average 1989 compensation for chief executive or chief operating officers at mining operations with under $50 million in gross sales, $148,638; at mining operation with more than $50 million in gross sales, $275,141. The survey showed that these officers averaged 14 years employment with their present company, had five years in their present position, and had an average age of 54.

Jan 1, 1990

Two independent sets of observations from rifted con-tinental margins suggest a way to reach a quantitative under-standing of how the topography of rifted margins erodes. First, a prominent erosional escarpment, which demarcates an elevated, inland region of low relief from rugged, deeply-incised terrain on the seaward side, is the main feature of the geomorphology of many rifted continental margins. Second, apatite fission track ages from the southeast Australian and southwest Saudi Arabian margins scatter about constant Paleozoic ages over the higher elevations inland from the escarpment, but decrease systematically seaward of the escarpment to near-rifting ages approaching the coastlines. We have developed erosion models based on conservation of mass principles to explain these observations. These models seek to explain the "rejuvenation" of erosion at the time of rifting, initiation of the observed erosional escarpment, and its migration inland with time at a rate on the order of 1 km/10 yr. We find from the modeling that erosion at rift flanks and passive margins is fundamentally a non-linear pro-cess. The erosional development of passive margin topogra-phy has much is common with travelling wave solutions to non-linear diffusion-type problems, and to self-similar sto-chastic processes, such as diffusion-limited aggregation. We suggest that the fission track data record the thermal effects of erosional unroofing at rift flanks and passive continental margins. Models intended to explain the erosional develop-ment of continental margins must explain both the geomor-phology and the fission track observations as well.

Jan 1, 1990