What is an 'IOCG' Mining Project?
An IOCG mining project stands for Iron Oxide Copper-Gold mining project. It's essentially a mining operation targeting a deposit containing these three main minerals. Here's a breakdown:
The gold and silver in IOCG deposits is typically associated with the base metals copper and zinc. In these deposits the gold is in the “Auric” molecular form in combination with base metals.
IOCG deposits can also contain other elements like:
- Iron Oxide (FeO): The most prominent mineral in the deposit, though its content can vary.
- Copper (Cu): A valuable metal with a range of applications in electronics and construction.
- Gold (Au): Another valuable metal sought after for jewelry and investment.
The gold and silver in IOCG deposits is typically associated with the base metals copper and zinc. In these deposits the gold is in the “Auric” molecular form in combination with base metals.
IOCG deposits can also contain other elements like:
- Uranium, cobalt, and rare earth metals, making them potentially very profitable for mining companies. They tend to be large and occur in crustal fault zones. Some of the biggest IOCG mines are in Australia, South America, and Chile