The Discovery Timeline: providing an overview of the best discoveries made in the last Century
Metal :
Country :
Discovery investing in junior explorers
In the Western world there are approximately 2,000 publicly listed companies with a market capitalization under $1 billion exploring for precious and base metals. Most of these companies have their main listing on an exchange in Canada (~1,100 companies), Australia (~575 companies), and the UK (~125 companies). The majority of those companies will regularly claim significant exploration results, but very few of those companies will ultimately make a significant economic discovery (>2 Moz AuEq). The lucky few who were part of such a discovery in the past went through an enormous valuation creation event. Lucky few? Making a discovery involves an element of luck, but it also involves as a minimum:
1. Recognizing opportunities
2. Acting on the opportunities
3. Realizing when an opportunity is no longer an opportunity
4. Raising millions of dollars of capital
5. Lots of early stage work (often perceived as boring for investors)
6. Accepting that naysayers outnumber the supporters
7. Solving many problems (geopolitical, legal, financial, technical, etc)
8. Drilling (high costs)
9. Many years of hard work
The following numbers (of the last 10 years) show how difficult it is to make a discovery:
> 5,000 exploration companies
> $90 billion in exploration
> >10,000 exploration projects
Led to: < 50 significant discoveries ( > 2 Moz AuEq )
This discovery timeline provides an overview of meaningful discoveries in the last 60 years.
You can zoom in to different periods, and click on a discovery to read more about the process that led to the ultimate discovery.
This is an overview of companies that made a discovery and their share performance from the moment of the discovery.
In some cases the discovery hole or discovery event is very obvious, in other cases deciding on the "moment of the discovery" is more difficult. But what this overview shows is that if you get it right, and you invest in an actual discovery, the returns can be amazing.
Metal :
Country :
| Ticker | Company | Project | Highlight discovery hole | AUEQ (G/T) | Intercept (M) | AUEQ METAl factor | Discovery date | Before news | 1D | 1D% | 5D | 5D% | 1M | 1M% | 6M | 6M% | 1Y | 1Y% | 2Y | 2Y% | 3Y | 3Y% |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GTT | GT Gold |
Saddle South | 13.03 g/t Au over 10.67m | 13.03 | 10.67 | 139 | 2017-07-25 | 0.38 | 0.89 | 134% | 1.03 | 171% | 1.56 | 311% | 0.61 | 61% | 0.81 | 113% | 1.09 | 187% | 1.50 | 295% |
| VEN | Ventana Gold |
La Bodega | 7.81 g/t Au over 106.45m | 7.81 | 106.45 | 831 | 2008-11-07 | 0.14 | 0.36 | 0% | 0.15 | -58% | 0.12 | -67% | 2.02 | 461% | 8.36 | 2,222% | 10.80 | 2,900% | 13.06 | 3,528% |
| RGD | Reunion Gold |
Oko West | 1.54 g/t Au over 20.10m | 1.54 | 20.10 | 31 | 2021-02-18 | 0.11 | 0.11 | 0% | 0.08 | -24% | 0.07 | -33% | 0.07 | -33% | 0.20 | 90% | 0.00 | 0% | 0.00 | 0% |
| CLP | Calpine Resources |
Eskay Creek | 29.41m @ 25.78 g/t Au, 38.74 g/t Ag | 26.28 | 29.41 | 773 | 1988-11-01 | 1.00 | 1.67 | 67% | 1.63 | 63% | 2.44 | 144% | 1.62 | 62% | 4.95 | 395% | 6.13 | 513% | 0.00 | 0% |
| DMM | Dia Met Minerals |
Lac de Gras (Ekati) | Kimberlite (incl diamonds) 455 ft to 920 ft | 142 | 1991-11-05 | 1.25 | 2.20 | 76% | 3.70 | 196% | 3.50 | 180% | 6.00 | 380% | 24.75 | 1,880% | 46.25 | 3,600% | 0.00 | 0% | ||
| NSU | Nevsun Resources |
Bisha | 24.5m @ 6.27% Cu, 1.18 g/t Au, 42.1 g/t Ag | 11.64 | 24.50 | 285 | 2003-01-22 | 2.51 | 3.34 | 33% | 2.80 | 12% | 3.80 | 51% | 3.81 | 52% | 4.65 | 85% | 3.02 | 20% | 2.56 | 2% |
| PDI | Predictive Discovery |
Bankan Gold | 6.58 g/t Au over 46.00m | 6.58 | 46.00 | 303 | 2020-04-15 | 0.01 | 0.05 | 900% | 0.07 | 1,300% | 0.07 | 1,200% | 0.06 | 1,100% | 0.09 | 1,600% | 0.21 | 4,000% | 0.00 | 0% |
| FIL | Filo Mining |
Filo del Sol | 0.67% CuEq over 942m | 0.91 | 942.00 | 857 | 2021-03-26 | 2.88 | 3.15 | 9% | 3.21 | 12% | 3.56 | 24% | 8.98 | 212% | 19.45 | 575% | 0.00 | 0% | 0.00 | 0% |
| SOLG | SolGold |
Cascabel | 1 g/t Au, 0.50% Cu over 100m | 1.68 | 100.00 | 168 | 2013-10-10 | 0.07 | 0.09 | 31% | 0.09 | 33% | 0.12 | 87% | 0.09 | 44% | 0.05 | -19% | 0.02 | -73% | 0.20 | 208% |
| MARL | Mariana Resources |
Hod Maden | 12.7 g/t AuEq over 103m | 12.70 | 103.00 | 1308 | 2015-02-02 | 0.11 | 0.13 | 23% | 0.14 | 26% | 0.17 | 53% | 0.22 | 103% | 0.15 | 42% | 0.81 | 649% | 0.99 | 815% |
| GGP | Greatland Gold |
Havieron | 3.24 g/t AuEq over 121m | 3.24 | 121.00 | 392 | 2018-06-26 | 0.01 | 0.01 | 27% | 0.02 | 60% | 0.01 | 22% | 0.02 | 55% | 0.02 | 43% | 0.12 | 944% | 0.18 | 1,505% |
| WDO | Wesdome Gold Mines |
Kiena Deep | 223.12 g/t Au over 14.25m | 223.12 | 14.25 | 3179 | 2016-08-24 | 1.50 | 2.24 | 49% | 2.49 | 66% | 2.73 | 82% | 3.62 | 141% | 2.24 | 49% | 3.32 | 121% | 7.33 | 389% |
| MGG | Minaurum Gold |
Alamos Silver | 694 g/t AgEq over 20.15m | 9.64 | 20.15 | 194 | 2017-11-03 | 0.24 | 0.24 | 2% | 0.27 | 13% | 0.24 | 2% | 0.50 | 111% | 0.38 | 60% | 0.42 | 79% | 0.38 | 62% |
| SIL | SilverCrest Metals |
Las Chispas | 2617 g/t AgEq over 0.9m (underground sampling) | 36.35 | 0.90 | 33 | 2016-04-28 | 1.00 | 1.16 | 16% | 1.10 | 10% | 0.94 | -6% | 2.56 | 156% | 1.63 | 63% | 2.30 | 130% | 4.50 | 350% |
| AZM | Azimut Exploration |
Elmer | 3.15 g/t Au over 102m | 3.15 | 102.00 | 321 | 2020-01-14 | 0.50 | 1.50 | 200% | 1.48 | 196% | 1.37 | 174% | 2.22 | 344% | 0.95 | 90% | 1.54 | 208% | 0.00 | 0% |
| ROS | Roscan Gold |
Kandiole | 5.94 g/t Au over 14.0m | 5.94 | 14.00 | 83 | 2019-01-24 | 0.06 | 0.09 | 42% | 0.15 | 150% | 0.15 | 150% | 0.14 | 133% | 0.13 | 108% | 0.34 | 467% | 0.35 | 483% |
| NXE | Nexgen Energy |
Arrow | 3.42% U308 over 22.35m | 41.54 | 22.35 | 928 | 2014-08-07 | 0.34 | 0.38 | 12% | 0.40 | 18% | 0.44 | 29% | 0.34 | 0% | 0.72 | 112% | 2.43 | 615% | 2.97 | 774% |
| GGD | GoGold Resources |
Los Ricos | 5.04 g/t AuEq over 35.5m | 5.04 | 35.50 | 179 | 2019-04-17 | 0.28 | 0.29 | 4% | 0.32 | 13% | 0.42 | 50% | 0.61 | 118% | 0.70 | 150% | 2.65 | 846% | 3.17 | 1,032% |
| ESK | Eskay Mining |
TV/Jeff | 4.11 g/t AuEq over 11.24m | 4.11 | 11.24 | 46 | 2020-09-22 | 0.83 | 0.81 | -2% | 0.75 | -10% | 1.15 | 39% | 2.37 | 186% | 2.11 | 154% | 1.38 | 66% | 0.00 | 0% |
| AMM | Almaden Minerals |
Ixtaca | 1.01 G/T Au, 48 g/t Ag over 302.4m | 1.68 | 302.40 | 508 | 2010-08-09 | 0.99 | 1.19 | 20% | 1.88 | 90% | 2.62 | 165% | 3.91 | 295% | 2.87 | 190% | 2.16 | 118% | 1.74 | 76% |
| OSI | Osino Resources |
Twin Hills | 0.7 g/t Au over 104m | 0.70 | 104.00 | 73 | 2019-08-26 | 0.48 | 0.49 | 3% | 0.83 | 75% | 0.80 | 68% | 0.78 | 64% | 1.45 | 205% | 1.11 | 134% | 0.64 | 33% |
| MAG | MAG Silver |
Juanicipio | 1798 g/t Ag, 2.91 g/t Au, 5.51% Zn, 3.43% Ld over 6.35m | 31.15 | 6.35 | 198 | 2006-01-23 | 1.75 | 2.15 | 23% | 3.75 | 114% | 3.05 | 74% | 1.90 | 9% | 6.07 | 247% | 13.15 | 651% | 5.78 | 230% |
| NFG | New Found Gold |
Queensway | 41.2 g/t over 4.75m | 41.20 | 4.75 | 196 | 2020-10-02 | 2.15 | 2.68 | 25% | 3.01 | 40% | 4.07 | 89% | 4.24 | 97% | 8.21 | 282% | 0.00 | 0% | 0.00 | 0% |
| ERD | Erdene Resource Development |
Bayan Khundii | 187.0 g/t Au over 1.0m | 187.00 | 1.0 | 187 | 2015-12-09 | 0.12 | 0.13 | 8% | 0.13 | 4% | 0.15 | 25% | 0.37 | 208% | 0.47 | 292% | 0.60 | 400% | 0.23 | 88% |
| GQC | GoldQuest Mining |
Romero | 2.4 g/t Au over 231m | 2.40 | 231.00 | 554 | 2012-05-23 | 0.08 | 0.31 | 313% | 0.56 | 647% | 0.61 | 713% | 0.81 | 980% | 0.31 | 307% | 0.32 | 320% | 0.17 | 127% |
| ADT | Adriatic Metals |
Rupice | 4.6 g/t Au, 537 g/t Ag, 10.8% Zn, 7.7% Pb, 0.9% Cu over 64m | 20.01 | 64.00 | 1281 | 2018-06-12 | 0.20 | 0.27 | 35% | 0.39 | 95% | 0.51 | 155% | 0.61 | 205% | 0.87 | 335% | 1.26 | 530% | 2.85 | 1,325% |
| KAM | Kaminak Gold |
Coffee | 17.07 g/t Au over 15.5m | 17.07 | 15.50 | 265 | 2010-05-26 | 0.82 | 1.33 | 62% | 1.32 | 61% | 1.50 | 83% | 2.89 | 252% | 3.72 | 354% | 2.00 | 144% | 0.85 | 4% |
| NMI | Newmarket Gold |
Fosterville | 386 g/t Au over 9.15m | 386.00 | 9.15 | 3532 | 2015-07-27 | 0.82 | 0.96 | 17% | 1.05 | 28% | 1.06 | 29% | 1.48 | 81% | 3.93 | 379% | 3.48 | 324% | 0.00 | 0% |
| RMC | Reservoir Minerals |
Timok | 1.23% CuEq over 266m | 1.66 | 266.00 | 442 | 2012-07-16 | 0.65 | 1.14 | 75% | 1.04 | 60% | 1.78 | 173% | 2.23 | 243% | 3.38 | 420% | 6.15 | 846% | 4.38 | 574% |
| VZLA | Vizsla Silver |
Panuco | 1544 g/t AgEq over 8.2m | 21.44 | 8.20 | 176 | 2020-06-24 | 0.44 | 0.74 | 68% | 0.93 | 111% | 2.40 | 446% | 1.70 | 286% | 2.55 | 480% | 1.40 | 218% | 0.00 | 0% |
| RR | Rainy River Resources |
Rainy River | 1.81 g/t Au over 98.5m | 1.81 | 98.50 | 178 | 2005-11-10 | 0.82 | 0.77 | -6% | 0.70 | -15% | 0.96 | 17% | 3.00 | 266% | 4.88 | 495% | 4.98 | 507% | 0.84 | 2% |
| RUP | Rupert Resources |
Ikkari | 1.8 g/t over 137.2m | 1.80 | 137.20 | 247 | 2020-05-12 | 0.87 | 1.26 | 45% | 1.68 | 93% | 2.15 | 147% | 5.95 | 584% | 5.53 | 536% | 4.76 | 447% | 0.00 | 0% |
| SLS | Solaris Resources |
Warintza | 1% CuEq over 567m | 1.35 | 567.00 | 765 | 2020-08-10 | 1.76 | 2.43 | 38% | 3.05 | 73% | 3.31 | 82% | 5.95 | 238% | 13.43 | 663% | 7.68 | 336% | 0.00 | 0% |
| ABRA | Abrasilver Resource |
Diablillos | 603.9 g/t Ag over 17.5m | 8.39 | 17.50 | 147 | 2020-01-27 | 0.06 | 0.07 | 18% | 0.07 | 18% | 0.07 | 27% | 0.24 | 336% | 0.43 | 682% | 0.35 | 536% | 0.00 | 0% |
| SKE | Skeena Resources |
Eskay Creek | 18.13 g/t AuEq over 22.65m | 18.13 | 22.65 | 411 | 2019-09-25 | 1.60 | 1.62 | 1% | 1.76 | 10% | 1.78 | 11% | 3.24 | 103% | 12.56 | 685% | 14.54 | 809% | 6.11 | 282% |
| AMX | Amex Exploration |
Perron | 269.23 g/t Au over 1.35m | 269.23 | 1.35 | 363 | 2018-12-13 | 0.17 | 0.17 | 0% | 0.15 | -12% | 0.19 | 12% | 0.73 | 329% | 1.34 | 688% | 2.93 | 1,624% | 2.90 | 1,606% |
| AQP | Arequipa Resources |
Pierina | 14 test pits with avg of 9.47 g/t Au | 9.47 | 1996-01-08 | 3.40 | 3.95 | 16% | 5.62 | 65% | 8.87 | 161% | 19.25 | 466% | 29.95 | 781% | 0.00 | 0% | 0.00 | 0% | ||
| GBR | Great Bear Resources |
Dixie | 26.91 g/t Au over 16.35m | 26.91 | 16.35 | 440 | 2018-08-22 | 0.72 | 1.18 | 64% | 1.70 | 136% | 1.82 | 153% | 3.71 | 415% | 6.45 | 796% | 15.43 | 2,043% | 13.49 | 1,773% |
| GEO | Gold Eagle Mines |
Gold Eagle | 28.47 g/t over 11.7m | 28.47 | 11.70 | 333 | 2005-08-29 | 0.44 | 0.53 | 19% | 0.72 | 63% | 1.97 | 346% | 2.97 | 571% | 4.16 | 842% | 5.50 | 1,144% | 12.05 | 2,626% |
| VIA | Virginia Gold Mines |
Éléonore | 18.85 g/t over 16.0m | 18.85 | 16.00 | 302 | 2004-09-15 | 1.50 | 1.60 | 7% | 1.59 | 6% | 1.94 | 29% | 5.10 | 240% | 14.25 | 850% | 15.64 | 943% | 0.00 | 0% |
| OSK | Osisko Exploration |
Canadian Malartic | 2.50 g/t over 71.7m | 2.50 | 71.70 | 179 | 2005-05-04 | 0.27 | 0.27 | 68% | 0.44 | 76% | 0.68 | 172% | 3.88 | 1,452% | 3.14 | 1,156% | 6.37 | 2,448% | 6.35 | 2,440% |
| SFR | Sandfire Resources |
DeGrussa | 5.3% Cu, 20.1 g/t Ag, 1.0% Zn over 47m | 7.83 | 47.00 | 368 | 2009-05-18 | 0.25 | 0.42 | 68% | 0.44 | 76% | 0.68 | 172% | 3.88 | 1,452% | 3.14 | 1,156% | 6.37 | 2,448% | 6.35 | 2,440% |
| DEG | De Grey Mining |
Hemi | 7.5 g/t AU OVER 24m | 7.5 | 24.00 | 180 | 2020-02-06 | 0.05 | 0.10 | 111% | 0.15 | 222% | 0.24 | 422% | 0.53 | 1,067% | 0.93 | 1,967% | 1.18 | 2,522% | 0.00 | 0% |
| DFR | Diamond Fields |
Voicey's Bay | 2.23% Ni, 1.47% Cu over 71m | 7.93 | 71.00 | 563 | 1994-11-17 | 1.13 | 2.00 | 77% | 2.06 | 82% | 2.84 | 151% | 14.19 | 1,156% | 25.87 | 2,189% | 42.80 | 3,688% | 0.00 | 0% |
| CHN | Chalice Mining |
Julimar | 2.59% Ni, 1.04% Cu, 8.85 g/t Pd, 1.09 g/t Pt over 19m | 20.71 | 19.00 | 393 | 2020-03-23 | 0.16 | 0.38 | 138% | 0.44 | 175% | 1.05 | 556% | 2.63 | 1,544% | 4.74 | 2,863% | 7.38 | 4,513% | 0.00 | 0% |
| ARU | Aurelian Resources |
Fruta Del Norte | 4.14 g/t Au over 237.25m | 4.14 | 237.25 | 982 | 2006-04-05 | 0.22 | 0.76 | 240% | 0.70 | 216% | 0.90 | 305% | 6.80 | 2,957% | 7.95 | 3,473% | 9.17 | 4,021% | 5.29 | 2,278% |
| SIR | Sirius Resources |
Nova | 3.8% Ni, 1.42% Cu over 4m | 12.05 | 4.00 | 48 | 2012-03-26 | 0.06 | 0.45 | 650% | 0.59 | 883% | 1.41 | 2,250% | 2.11 | 3,417% | 2.55 | 4,150% | 3.68 | 6,033% | 3.23 | 5,283% |
