Here’s your 3-minute quick read of Fresh Thinking by Snowden Optiro’s podcast Episode 118.
We’ve pulled out the key insights and takeaways – perfect for when you want the value, minus the headphones.

Resurrecting Gold Projects – the Data Dilemma

With gold prices riding high, interest in historic gold projects is booming. Across regions like Western Australia, many dormant operations are being dusted off with the hope of bringing them back to life. But as Jane Levett, Principal Consultant at Snowden Optiro, explains:

“You can’t just pick up an old project and go, boom, the gold price is really high now, so I’m just going to get a resource estimate. A lot of work has to be done first.”

Why old data is a challenge

The biggest hurdle lies in data quality. Much of the drilling data in these projects is decades old — sometimes 50 to 60 years – and often incomplete or inconsistent. Drill collars, downhole surveys, assay data, and QAQC records are frequently missing or poorly documented.

As Jane points out:

“QAQC data is absolutely critical to validating assays. If it’s missing, it needs to be acquired through re-sampling, re-analysis, or in some cases, twin drilling.”

How companies can validate legacy data

There are practical steps that can make old data usable:

• Resampling drill core or pulps, where available.
• Twin drilling 10–20% of historic holes to validate results, distributed across time and space.
• Reviewing geological logging and historical reports, such as those archived with the Department of Mines.
• Updating survey surfaces to reconcile what was mined in the past with the current pit conditions.

Importantly, not all drilling is equal – RAB and aircore holes, for example, are rarely suitable for resource estimation.

Managing expectations

Even with validation, classification often has to remain conservative until confidence is built. That means many projects will initially sit in the Inferred category.

And while today’s gold price is tempting, Jane offers a final word of caution:

“Although the gold price is crazy high, it would be wise to run optimisations at a lower price to test the sensitivity of the deposit. Don’t build your case on optimism alone.”

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Key takeaway: Historic gold projects can present exciting opportunities, but they come with a “data dilemma.” Success depends on carefully validating legacy information before moving to resource estimation – and resisting the urge to rush in just because prices are high.

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Listen to the full episode to hear more insights on resurrecting gold projects.

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If you would like to contact either Jane or Susan: contact@snowdenoptiro.com

Here is a LINK to our Snowden Optiro YouTube channel.

Snowden Optiro is a resources consulting and advisory group that provides independent advice, consulting and training to mining and exploration companies, their advisors and investors.

We help mine developers to advance their projects, mining companies to improve their operations and their professionals, and investors to de-risk their investments by the provision of quality advice, training and software in the field of Mineral Resources and Mineral/Ore Reserves.

LINK to Snowden Optiro website