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The AAPG/Datapages Combined Publications Database

AAPG Bulletin

Abstract


Volume: 69 (1985)

Issue: 4. (April)

First Page: 656

Last Page: 656

Title: Do Oil and Gold Mix in Alaska?: ABSTRACT

Author(s): R. V. Bailey

Article Type: Meeting abstract

Abstract:

Excellent potential for sea-floor-placer heavy mineral deposits exists locally along the coast of Alaska within lands owned by the state. Aspen Exploration first applied for precious metal offshore prospecting permits (OPPs) from the state in 1980 for certain lands in Cook Inlet, including lands that are prospective for oil and gas production. Exploration to date has included geologic mapping, beach sampling at many locations, and a 6,400-mi low-level aeromagnetic survey. More than 20,000 ft of sediments underlie areas that appear most prospective for placer gold deposits, thereby facilitating geophysical interpretation of sea-floor magnetic anomalies. Work to date, now suspended, suggests large, linear, offshore heavy mineral concentrations, which likely include gold.

Obtaining permits in Alaska is difficult, frustrating, and expensive. After 5 years of effort, no permits have been issued to Aspen. Primary opposition has come from the Alaska Department of Fish and Game, which has taken the position that insufficient biological resource information is available in the prospect areas. These same offshore areas, however, are held under oil and gas leases from the state by various companies.

The difficulties encountered by smaller oil companies in attempting to carry out exploration in Alaska, which have forced virtually all of them to abandon their efforts in this state, are compared with difficulties hard-mineral companies are encountering. It is important to recognize that income to the state of Alaska from oil royalties and taxes is of such magnitude that needed support for hard-mineral exploration and mining is being suppressed by a hostile bureaucracy and by preservationists.

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Copyright 1997 American Association of Petroleum Geologists