1. Exploration (Prospecting for Deposits)
1. Exploration (Prospecting for Deposits)
At this stage, geologists and engineers study areas with potential gold concentrations using:
Geological maps and satellite imagery
Test drilling and soil sampling
Geochemical and geophysical analysis
Goal: to confirm the presence of gold-bearing ores and determine reserves that are economically viable to develop.
2. Mine Development and Extraction
2. Mine Development and Extraction
Once reserves are confirmed, mining begins. There are two main types:
Open-pit mining – used when gold is located near the surface; the most common method.
Underground mining – used for deeper deposits; requires drilling and tunneling.
The extracted ore is then transported to a processing facility for refinement.
3. Ore Processing and Concentration
3. Ore Processing and Concentration
The goal at this stage is to separate gold from the surrounding rock.
Main methods include:
Gravity separation – based on density differences
Flotation – uses chemical reagents to separate gold
Cyanidation – dissolves gold in cyanide solution (most widely used)
Amalgamation – an outdated mercury-based method, now rarely used
The result is a gold-rich concentrate, which is later smelted into bars.
4. Refining (Purification of Gold)
4. Refining (Purification of Gold)
Refining is the process of increasing gold purity, typically up to 99.9%.
At this stage, impurities (such as silver and copper) are removed, producing gold that meets international market standards.
Refined gold bars are then stamped and can be sent to:
Banks
Auctions
Jewelry manufacturers
National reserves
5. Sales and Circulation
5. Sales and Circulation
After refining, gold enters the market, most often in the form of Good Delivery bars, certified by the London Bullion Market Association (LBMA).
It is used as:
An investment asset (by banks, funds, and private investors)
Industrial and jewelry material
Collateral for tokenized assets (as in the AYNI Gold project)