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Current project development statuses (Click to Enlarge)

Our projects are developed through rigorous planning, research and consultation with world-leading experts, the host government and project stakeholders. A project's overall value increases as it moves through development. 

The information below is presented as a brief explanation on the stages a project may move through. Actual plans and specific details are catered to the project and incorporated into the exploration work plan. 

Desktop Research

Meticulous research to identify possible mineral resource targets is the foundation for all of Odyssey’s projects.  Through our proprietary Global Prospectivity Program, Odyssey’s team of full-time and contracted researchers, geologists, environmental and government-relations professionals analyze regional geological data, information from previous expeditions, and mining legislation to determine project viability.

Prepare Exploration Plan

With the information that is gathered in the research phase, our Marine Operations Team can design an exploration plan that is focused on characterizing the environmental setting of the potential target area so that we have a “snapshot” of the area before any work is done. The team also identifies necessary research platforms and equipment, develops a project timeline and a budget to ensure the company has the right tools for the job. Odyssey’s Research and Scientific Services team will assess any environmental concerns that may affect the project and identify key stakeholders with potential interest in a project. Our team assures we can execute a project that remains transparent, delivers beneficial research, and is environmentally and socially responsible as a priority to economic feasibility.

Primary Exploration:  Survey and Data Acquisition of the Seafloor

Once granted proper permits, the Marine Operations Team uses industry-accepted methodology to survey and map a licensed area.  The area is mapped, the seabed is characterized, and areas with the highest mineral resource potential are identified. Multibeam survey data shows deep-water seafloor features in greater detail than can be determined through satellite data.  In addition to data on water depth, the equipment used for this survey can provide information on seafloor habitat as well as the presence of biota in the water column.

Conduct Environmental Baseline Studies

Before proceeding with a project, we have to be confident that operations will not cause undue harm to the environment. Through environmental baseline studies, our Marine Operations and Science teams can characterize the seafloor, the underlying sediment and the overlying water column. The areas of focus for these baseline environmental studies include, but are not limited to: Physical Oceanography, Geology, Chemical Oceanography, Biology and Ecosystems analysis.

Execute a Resource Assessment

The Qualified Person (QP) / Competent Person (CP) assures mineral resource confidence on a project in line with leading global standards.  Studying the samples recovered during exploration allows our team to characterize the mineral resources present in the area.  Industry-accepted sampling and chemical analysis provide adequate information to determine the mineral resource present on the seafloor, the areas which contain resources, and the amounts of minerals expected within the deposit or license area.  Analysis provides confidence in spatial continuity of the resources so that a degree of certainty can be given to calculated resources.  The QP/CP and his or her supportive team present their findings in a resource report.  This report is integral in performing an environmental impact assessment, engineering studies, and economic feasibility assessments for the overall project.  These reports are carefully prepared, thoroughly reviewed and provided to government authorities prior to any mining activities.   Odyssey provides resource statements meeting the requirements of the jurisdiction in which a project is located.  Generally, a reporting format will follow the guidelines of the Committee for Mineral Reserves International Reporting Standards.

 

Submit an Environmental Impact Assessment (EIA)

Each project is led by an Environmental Chief Scientist who oversees the environmental program as well as the creation and submittal of a robust EIA based on the data collected during exploration that describes any environmental impacts that could result from mineral extraction operations on the project. This information is vital so the company can develop mitigation strategies, but if at any point data shows that serious, undue, irreversible harm could occur, a project will not move further.

 

Produce Mitigation Strategy Plans

The Environmental Chief Scientists, Odyssey’s science team and environmental consultants collaborate to create impact minimization and mitigation strategies to enact responsible environmental management measures for full-scale operations. At this stage, Odyssey will also engage with the host nation’s government, accredited academics, and stakeholders to ensure mitigation strategies are clearly defined.

 

Commence Extraction Operations (if viable)

If environmental data indicates the project can take place without harm and if the host government permits Odyssey by issuing proper licensing, then a commercial extraction program will be developed.

 

Throughout all phases of the project, Odyssey is responsible for continuing to monitor the environment prior to, during, and following any resource extraction that may occur.  Continuous monitoring of the environment will demonstrate whether impacts and mitigation measures align in the project plan.  In the event any differences are observed, prompt detection will allow corrective action to be taken. 

Bank Feasibility Study

 This is a comprehensive study of the mineral deposit which  considers all geological, engineering, legal, operating, economic, social, environmental and other relevant factors. The purpose for this study is to provide a basis for a final decision by a financial institution to finance the development of the deposit for mineral production.

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Project Development