PDAC: ‘Boots on the ground’ at Silicon unlocked huge Discovery of the Year

Unearthing a Nevada Gold Giant

The Prospectors and Developers Association of Canada (PDAC) recently bestowed its Thayer Lindsley Discovery of the Year Award, recognizing the team behind the Silicon gold deposit in Nevada. Geologist Paul Bartos, formerly with AngloGold Ashanti (NYSE: AU), recounted the initial stages of the project, highlighting the significance of meticulous field work in the discovery process. The find, located approximately 200 km from Las Vegas, defied conventional geological expectations for the region.

Bartos emphasized the pivotal role of core loggers and traditional mapping techniques in uncovering the deposit's potential. Despite initial skepticism from AngloGold Ashanti regarding Nevada's prospectivity, Bartos was granted the opportunity to explore, albeit with limited resources.

The Renaissance Connection

A crucial meeting with Renaissance Gold in 2016 paved the way for a collaborative exploration effort. Renaissance Gold, which later merged with Evrim Resources, had already initiated early-stage exploration at the Silicon site, utilizing Landsat satellite imagery for mapping purposes.

From Satellite Data to Substantial Reserves

Building upon Renaissance's preliminary data, Bartos and his team conducted extensive mapping, economic modeling, and drilling. This comprehensive approach ultimately validated the site's potential, leading to the delineation of substantial gold and silver reserves. In the previous year, resource estimates outlined approximately 88 million tonnes grading 1.75 grams of gold per tonne and 2.75 grams of silver per tonne, translating to roughly 5 million ounces of gold and 7.8 million ounces of silver in probable reserves.

Callinan Royalties, a financial backer of Renaissance's early exploration endeavors, also shared in the award, underscoring the importance of funding and collaboration in successful mineral discoveries.

Challenging Geological Dogma

Bartos noted that the Silicon deposit had been previously overlooked due to its unique geological characteristics, which diverged from established geological models. The team's willingness to challenge prevailing assumptions and rigorously test the site's potential proved instrumental in unlocking its value.

The discovery highlights the importance of fundamental geological principles, such as detailed field mapping and core logging, even in an era of advanced technological exploration methods. It also serves as a reminder that significant discoveries can still be made in seemingly