not just oil and gas but possibly gold and diamonds
http://www.bgs.ac.uk/falklands-oil/onshore/onshoredef.htm
Onshore – minerals exploration (gold and diamonds)
Before the Atlantic Ocean opened, the Falklands were joined to South Africa along the margin of the Gondwana supercontinent.
There are striking geological similarities between Falklands geology and South Africa’s Cape Fold Belt and Karoo Basin, and this has led to speculation that the Falklands might contain mineral deposits of the same style as the well-known, world-class African examples.
The only historical attempt to assess the economic potential of Falklands geology was made in the 1920’s, but with no positive results.
Improvements in exploration techniques and technologies, coupled with recent geological investigations of the Islands, have provided a modern framework on which to base new exploration for economically viable minerals.
Diamonds – geological background
One intriguing possibility is the extension of the southern African diamond-bearing kimberlite province into the Falklands.
The big question here is the relative timing of diamondiferous kimberlite intrusion relative to the break up of Gondwana and the separation of the Falklands from Africa. If separation of the continents occurred before kimberlite intrusion in Africa, then the Falklands would be unlikely to have diamond-bearing kimberlite pipes. However, the reverse might also be true.
There is enough uncertainty in our understanding of the relative timing of kimberlite pipe intrusion and continental separation to allow some hope that the Falklands have the potential to contain diamondiferous kimberlite pipes.
Recent exploration activity has found some possible diamond-indicator minerals such as chromite and garnet, although doubt remains as to whether the precise chemistry of these minerals is indicative of an origin in a kimberlite pipe.
Gold – geological background
Gold occurrence in streams
There are good prospects for gold mineralisation in the Falklands.
The break up of Gondwana involved massive, crustal-scale dislocation and widespread magmatism.
Fault zones and dykes cut across the Islands, and there is clear potential for epithermal and/or shear-zone hosted gold mineralisation.
Gold grains have been panned from a number of Falklands streams.
Fresh, angular gold grains have been discovered to date in streams, suggesting that the grains have not traveled far from their bedrock source.
Over 300 gold grains have been independently analysed by BGS, confirming three potentially different gold sources:
a pyritic Black Shale source; and
two separate epithermal sources in unknown host rocks.
An additional potential source has been identified by the exploration company.
Heavy Mineral Sands
Garnet and rutile grains are concentrated in features such as raised beach deposits. These could potentially form extractable mineral deposits, but are at present considered to be uneconomic due to the geographical isolation of the Falklands.
Minerals exploration – activity Over £600,000 sterling has been expended on minerals exploration since 1999, with some encouraging results.
The activity has been conducted by Falklands Gold and Minerals Ltd. Recent investment enabled a comprehensive aero-magnetic survey of the entire Islands, with a 500m spacing of flight lines over most of the Falklands, and a 250m spacing of lines across possible areas of interest currently identified from ground studies. This aero-magnetic survey should lead to the identification of any zones of intrusion, veining or structure disruption below the extensive peat cover. Coupled with the analysis of a regional geochemical sampling programme, the identification of magnetic anomalies will narrow the search for a gold source that can be drilled and potentially exploited.
The Falkland Islands Government is currently drafting a Minerals Bill to facilitate further exploration and exploitation.
who was saying we would?