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...
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