You can read about the discovery of Cadia deposit. At quick count it took them over 20 holes to find the discovery hole. They would drill, analyse the cores and geology and then refine their drill program until they honed in and found what is now one of the biggest on the ASX.
First drill hole into Cadia was 1985 Around 20 holes minimum later and in 1996 they found the discovery hole. That is 11 years, $Millions of dollars and lots of desktop studies.
I will post a similar background on Pogo for people later. It takes more than 1 drill hole to find a deposit, but you only need 1 drill hole to make a discovery.
RML Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)