DAEJEON, Aug. 24 (Korea Bizwire) – The Korea Institute of Geoscience and Mineral Resources (KIGAM) announced Tuesday that it had discovered a deposit of 211,283 tons of gold ore in Jindo and Haenam, South Jeolla Province, using newly-developed technology.
According to the institute, the ore should account for 627.5 kilograms of pure gold, which at current prices is worth about 30 billion won ($26.7 million).
KIGAM transferred its spectral-induced polarization (SIP) analysis technology, which it developed in 2015, to Heesong Geotek, and has used it at mining sites operated by Golden Sun in South Jeolla. Golden Sun is the only domestic firm operating gold and silver mines in Korea, producing 98 percent (255kg) of Korea’s annual gold output.
The new SIP technology uses the alternative current of multi-frequencies between 0.1 and 1kHz to determine subsurface structure. The flow of electric current delays when passing through sulfide minerals such as silver, iron, and copper, and the analysis of such patterns can reveal underground ore deposits.
KIGAM’s technology is much more elaborate than conventional SIP techniques. It can analyze the specific types of metal ore deposits, and can explore depths of up to 300 meters, said the institute.
According to KIGAM researchers, it has been difficult to obtain such quantitative and qualitative data due to Korea’s unique geological nature, which features a high frequency of electromagnetic static that previously limited exploration to only 100 meters below the surface.
This also marked the first time that KIGAM successfully put the new analysis technology into practice. In addition to its use at mining sites, the new technique is also expected to be used to assess potential mineralized zones across the country.
“We’ll continue the application of the SIP analysis technique to discover other gold deposits in Korea,” said Golden Sun CEO Lim Gi-young.
Heesong Geotek plans to expand its mineral exploration services to developing countries like Myanmar and Mongolia using the new technology.
By Lina Jang (firstname.lastname@example.org)