Geophysics is very much horses for courses. There are many techniques and even more styles of mineralisation. The IP-based techniques are generally applied to sulphides; mag and rad identify lithology and structure and are invaluable for structurally controlled mineralisation and mapping; grav and seismic can pick up large scale structure and lithology.
None of these techniques tells you whati's in the ground, they identify a potentially good place to drill. And all are subject to the interpretation of the geophysicist. Several times I've drilled a down hole conductor at one orientation for no result, only to hit something at another orientation using an alternative interpretation. You need good data and a good geophysicist with an open mind, prepared to reinterpret the data as new evidence is secured.
