News

Neftex introduces a new age for mineral exploration

Posted on 25 Feb 2013

UK-based Neftex, an earth science research company serving the international resources industries, has launched the Neftex Mineral Exploration Module. This includes a database with information on the accurate locations, mineralisation ages and interpretations of the geodynamic setting of ore deposits. When combined with the plate model within Neftex’s Geodynamic Model, powerful predictions can be made as to the locations of future ore locations, the company says.

Dr Graeme Nicoll, who leads the Mineral Exploration team within Neftex, will be presenting on how the Neftex products can be used for mineral exploration at the Prospectors and Developers Association of Canada (PDAC) conference, March 3-6 in Toronto.

His presentation will illustrate the strengths of combining the geodynamic model with integrated geoscience data as an effective tool in global screening for greenfield mineral exploration opportunities, by providing a better geodynamic understanding of known mineral deposits.

Nicoll said: “As the number and quality of new finds continues to decline, exploration is being forced to take greater risks, moving deeper into the subsurface to gain access to mineral deposits. Whilst the tools and technology for accessing subsurface deposits are advancing, identifying the right location to explore is becoming more challenging.

“Neftex has developed a minerals database with a difference – geologically focused and aimed at confronting exploration demands. Accurate locations, precise mineralisation ages, bibliographic information and an interpretation within a global geodynamic framework allows for greater insight into the spatial, temporal and geological contexts of ore deposits and why they are located where they are on the planet. This enhanced understanding has led to a database with the scope to allow true geological forecasting of undiscovered mineral deposits, information that will benefit a number of our clients, and the industry as a whole.

“At the PDAC conference I will demonstrate how simple exploration concepts can be tested on a global scale. Using the model I will highlight regions of prolonged subduction (when one tectonic plate moves under another and sinks into the earth’s mantle), enhanced fluid flow and potential mineral enrichment – providing a predictive framework and global road map for future exploration.”

Neftex saw a rise of more than 30% in turnover in 2012. The company also successfully issued over 70 new Earth Model module licenses, totalling over 220 to date. By expanding into the mineral sector, Neftex estimate sales to increase substantially in the next 12 months.

Mike Simmons, Earth Model Director at Neftex, said: “Moving into the mineral sector will mean the company is able to increase its offering to our clients and provide a more extensive and cohesive service, as well as benefiting from the feedbacks between mining and petroleum-related geoscience.

“The launch of the Neftex Mineral Exploration Module will be of significant benefit to the mineral sector and we are confident that it will contribute to new discoveries being made and we look forward to the future projects that our expansion into this sector will generate.”

Neftex is a leader in digitally integrating public-domain geological data, to provide valuable insights into regional resource distribution, exploration and exploitation.

The company recently launched its 2013 Earth Model Awards aimed at promoting young geoscience talent. The award is open to all UK-based geoscience students currently working towards a Master’s degree in Earth sciences with a research project related to integrated global geosciences. The prestigious industry-recognised award, in its second year and supported by The Geological Society of London, offers a prize of £2,000 to the student who presents the most innovative and forward-thinking research project, with a matching sum going to the winner’s university department. Further information can be found at www.neftex.com/earthmodelaward