underperformance, page-7

The odds of finding a brand new orebody in greenfields exploration are less than 1%. Those odds get better depending on the maturity and endowment of the terrane.

So the odds of finding an orebody in a well endowed immature terrane are quite good. The catch is that you don't know how well endowed a terrane is until it has been well explored. And as it is more and more explored the odds of finding an orebody go down.

So the trick is to explore in an underexplored area that shows the hallmarks of been a well endowed terrane. For the Gawler Craton I would say it is very well endowed, ie look at OD, PH and C. And the area is relatively underexplored historically, this is due to a number of reasons, but primarily been that the orebodies are under a significant amount of cover.

The odds of finding additional ore bodies in a brownfields exploration would be a bit higher. Not sure of exact percentages. But the advantage in brownfields is that they know the type of system they are targeting, the characteristics in that area and that there is a mineralised system to begin with. So the chances of finding extensions or additional ore bodies in close proximity to an existing one are better. I might add that provided there are still the factors to forming an ore body there.