MAPPED: Top gold drill results
Based on data compiled by MINING.COM sister company Mining Intelligence, exploration activity in the gold sector slowed down in June, with both the number of drilled projects and the number of completed drillholes declining.
A trend towards exploration of advanced projects, rather than greenfield opportunities, was once again evident in June 2019.
Most companies prefer to extend the resource base of existing mines and advanced projects rather than invest in riskier early-stage drilling programs, says Vladimir Basov, senior analyst at Mining Intelligence.
According to Mining Intelligence data compiled in June, companies reported exploration results for 110 projects, the lowest count observed since the beginning of 2019. Australia (37 projects drilled) and Canada (33) dominated gold exploration during the month.
In June, companies reported results from 1,452 drillholes – the number of holes were down in all major regions except Africa, where it more than doubled to 301.