Chapter 368: Nobody Believes There's Gold Here
Barrick Gold was far from short on cash.
Their annual revenues reached billions of dollars, making them second only to Newmont Gold globally. Moreover, starting from the latter half of last year, the price of gold had surged significantly. Production costs hadn't risen nearly as much, translating into substantial profit margins. Even though gold prices saw a sharp decline later in the year, barring unforeseen circumstances or major expenditures, Barrick Gold was set to earn at least 500 million USD in net profits this year.
Indeed, this was a remarkably profitable company.
Li Tang had no interest in saving money for such a wealthy enterprise. He thought carefully before replying, "According to our Chinese standards, a large-scale rock-gold deposit is defined as one with reserves of at least 20 tons, calculated at a cut-off grade of 3 grams per ton. No matter where I conduct exploration projects globally, I always reference the Chinese standards..."
Bill proactively addressed the technical aspects: "In Canada, we don't have rigid criteria set by the government; rather, each company determines reserve calculations based on actual circumstances. These data primarily serve as reference points for mining operations. But the standards you've mentioned are quite reasonable."
"Since you're comfortable with these terms, it simplifies our arrangement." Li Tang looked at Mark with a smile. "You proposed giving me a reward of 100 million USD for finding 100 tons of gold. But let's be realistic—how many gold deposits in all of Canada contain over 100 tons? You could probably count them on two hands! Let's scale this down proportionally. How about rewarding me 10 million USD for every 10 tons of gold discovered?"
This reward scheme directly referenced Mark's proposal, just proportionally lowering the starting threshold. If Li Tang actually discovered a 100-ton-plus gold deposit, Barrick Gold would still pay him 100 million USD—a negligible difference for such a giant company.
Mark thought for a moment before nodding enthusiastically, "I truly believe you'll discover a mine with reserves exceeding a hundred tons—no doubt!"
"So, is this arrangement acceptable to you?" Li Tang asked, smiling.
"Let's sign the contract immediately!" Mark didn't dare object to Li Tang's conditions. If Li Tang suddenly decided to walk away, they'd have no chance of getting him back. Given the skyrocketing market value of Linked Win Mining—currently the most dazzling mining star globally—it rivaled even century-old institutions like Barrick Gold. As the largest shareholder and actual controller of Linked Win Mining, Li Tang's net worth already surpassed tens of billions USD, positioning him among the world's wealthiest individuals.
To secure a big shot of his caliber, anyone else would have to pay millions in appearance fees alone. For Barrick Gold to have Li Tang personally oversee exploration was practically a divine blessing.
Preparing the contract required time, involving lawyers from both sides to verify each clause. Li Tang thus temporarily returned to his hotel.
He politely declined Mark's dinner invitation, tired of endless social obligations at home and still feeling uneasy recalling his recent drunken fiasco in Haigang City.
The team traveling with him this time included technical staff under He Runqi, as well as legal experts familiar with Canadian law. Accompanying them was a young woman named Gao Jingjing, recently hired by Dai Yingchi as Li Tang's personal assistant, responsible primarily for arranging his schedule.
"Mr. Li, dinner reservations have been made at an upscale restaurant," Gao Jingjing informed Li Tang after knocking on his door.
The restaurant was near the hotel, so they decided to walk there. People with Western faces strolled casually, some laughing in small groups, others hurrying along with backpacks. Seeing the group of Eastern faces, locals didn't find it strange nor paid much attention—a refreshing change for Li Tang, who preferred to remain anonymous.
"Mr. Li, are we really going to undertake a gold-mining project here?" He Runqi was visibly worried again.
Maru River Coal Mine and Mali River Iron Ore had been the company's flagship projects over the past year, yielding monumental results. However, as head of the technical department, He Runqi hadn't made significant contributions to either project. During their previous trip to Congo, he had vowed to showcase his technical expertise, determined to lead by example for his team.
Yet, everyone witnessed how, during the Kakula copper exploration, he merely followed Li Tang around without accomplishing anything substantial. Although the deposit was just tens of meters beneath the sandy surface, he initially failed to detect it.
Within the company, whispers had begun circulating—people joking that Vice President He was just Li Tang's shadow, benefiting from merely following him around. Such comments were hurtful and embarrassing. And he found no valid arguments to counter them.
Despite being one of the company's original founding members, He Runqi had never independently executed a significant project.
"Well, we've already promised them; we can't back out now," Li Tang replied, glancing back at He Runqi. Noticing wrinkles already forming on his small, round, dark-skinned face, Li Tang joked, "How old are you? Why do you look so worn out? Have you been working too hard lately?"
He Runqi frowned, deeply troubled. "I haven't been busy at all—I spent most of this year following you around in Congo. You saw everything I did. Ah..."
"Why sigh now?" Li Tang laughed.
"I know nothing about gold mining here, and I don't have any historical geological data. If we really start this project, I won't be able to help much again." He Runqi desperately wanted to make a meaningful contribution but constantly felt directionless.
"You were onsite at Kakula the entire time, representing our company, managing various project operations, and providing valuable input regarding exploration methods," Li Tang insisted. To him, He Runqi was one of the company's most reliable and indispensable people. Though often appearing blunt and awkward, he worked diligently and was entirely trustworthy.
Geological exploration had no geniuses—just hardworking, practical technicians diligently working day after day. Each discovery of a mineral deposit required an entire team's painstaking efforts. Li Tang always emphasized this openly, telling each employee how crucial they were to every success.
"Ivanhoe's technical staff all praised your exploration skills highly—you're widely respected there!" Li Tang encouraged.
"I only handled basic tasks—using compasses, measuring bedding orientations, estimating mineral depths based on strata, arranging drilling holes, and determining hole depths…" He Runqi was thoroughly familiar with the geological exploration process, having participated in numerous significant projects both domestically and internationally. Such routine tasks, however, seemed unimpressive to him, skills anyone could perform.
He longed to emulate Li Tang's precision and intuition in choosing and investing in exploration projects—skills befitting a vice president and capable of earning everyone's respect.
"Mastering these fundamental skills isn't something everyone can accomplish," Li Tang said warmly, resting his arm on He Runqi's shoulder, laughing, "What's gotten into you lately? Always wanting more work—aren't you worried about working yourself to death?"
"They say there's no farmland exhausted from cultivation—only oxen tired to death. But as a rural kid, I've never actually seen an ox exhausted to death," He Runqi responded, serious yet good-humored. Regardless of project difficulties or locations, he never complained.
Guessing at his colleague's internal struggles, Li Tang offered, "How about this—you take full responsibility for this project. I'll keep my mouth shut this time and follow your instructions entirely."
Company gossip, although sometimes just playful banter, could unintentionally hurt people.
"I know nothing about Ontario's gold mines. I only briefly checked basic information before coming here. It's too shallow, entirely insufficient for a serious project," He Runqi confessed anxiously.
"We're only consultants here, remember? The old experts from the Ontario Geological Association are here, along with Barrick's own exploration team," Li Tang said reassuringly. "Even if you wander around silently in front of them, people will think you're mysterious and incredibly capable!"
"That might be true for you, but not me," He Runqi said gloomily.
"That's settled, then. The project area is near Chapleau Township. Once you walk around and observe the surface rock layers and geological structures yourself, you'll quickly figure things out."
Li Tang patted He Runqi on the shoulder. Seeing that He still looked worried, Li smiled and teased him. "Last year, you said you'd definitely bring back your childhood sweetheart for New Year's. But when you returned, you showed up alone. What happened?"
When the conversation shifted to romantic topics, He Runqi instantly turned red, extremely shy.
"Well, I'm dating a young girl right now. She's not even twenty yet," he confessed, lowering his head awkwardly.
"Oh wow!" Li Tang laughed heartily. "You're an old ox grazing on young grass! You've struck gold!"
"She's young and doesn't know anything about the world yet. She's still back home and was too shy to come to Yanjing with me."
"What's there to be shy about?" Li Tang encouraged warmly. "You have a home here. Next time, bring her over to Yanjing. She can get used to married life in advance."
Hearing this news made Li Tang genuinely happy. It eased his concern that work had hindered He Runqi's personal life.
"If she doesn't have a job, we can arrange something for her at the company. Maybe in logistics or administrative work. What's her education?"
"High school," He Runqi shook his head vigorously. "The company policy forbids nepotism. I don't want to set a bad example!"
"All right, then. Just hurry things up!" Li Tang laughed again.
They had an expensive Western-style dinner, but it didn't taste particularly delicious. Perhaps their taste buds hadn't adapted to foreign cuisine yet.
However, they didn't stay in Toronto long. After finalizing the mineral consulting service contract with Barrick Gold, they immediately boarded a flight directly to Chapleau Township.
There was a small civilian airport there, though flights rarely landed. Li Tang, He Runqi, and their team were rare guests for this small town.
They traveled approximately a dozen kilometers southwest from Chapleau to reach their project destination.
To be honest, Li Tang didn't know the exact coordinates or precise location of this historically significant gold deposit in Ontario.
Before arriving, he'd specifically asked Bill to gather geological maps of the area around Chapleau. Bill managed to find some historical data. Previous geological studies had been quite basic—primarily surface geological surveys, covering fundamental elements such as topography, strata, and geological structures. The earlier investigations hadn't reported any visible surface mineralization, which meant this region had never become a hot spot for mineral exploration.
This posed a significant challenge for their exploration efforts. Most major gold deposits were historically discovered due to surface weathering or erosion, which brought gold-bearing rock or particles downstream, allowing prospectors to trace them back to their original sources.
"How are we supposed to find gold here?" He Runqi once again wore a worried expression.
"Remember Guanling gold mine?" Li Tang asked him.
"Of course. It was our first gold mine project together," He Runqi recalled vividly.
"Searching for gold deposits relies on proven methods—geophysical exploration to find geological structures, and geochemical surveys to detect indicative elements. These methods become especially crucial when there are no visible surface signs of mineralization," Li Tang gently reminded.
He had earlier clearly stated that He Runqi was in charge of this project, and everyone in the team was to follow He's instructions without question. Li Tang planned to remain casually on the sidelines. Yet, seeing He's anxious face now, he couldn't help offering advice to help him avoid unnecessary trouble.
"I've studied the characteristics of Ontario's major gold deposits. Most are structurally controlled quartz-vein gold deposits," He Runqi said thoughtfully. Over the past few days, he had carefully examined the geological data provided by Bill, gaining valuable insight into local geological conditions. "Right now, our priority is locating geological structures, then conducting surface sampling around them—collecting water samples, or performing geophysical surveys in promising areas."
Deep geophysical surveys might not directly indicate gold presence, but they could help identify structural locations.
"Exactly," Li Tang nodded approvingly.
"Another important observation—I've noticed from data that the host rocks around many local gold deposits contain pyrite. Finding pyrite-bearing rocks around geological structures might also help," He Runqi added, picking up a significant detail from the historical data.
"Indeed, it's almost impossible to identify gold visually in surface rocks unless the particles are exceptionally large," Li Tang agreed. "Searching for pyrite-rich host rocks could indeed work well."
"However, assuming gold exists here, the mineralization characteristics might differ from those northern deposits near Red Lake. We must keep an open mind. We shouldn't just stubbornly focus on quartz-vein gold. What if there's a placer gold deposit formed by riverbed sedimentation?" Since assuming responsibility for this project, He Runqi had clearly been doing a lot of thinking and developing multiple approaches.
"Do whatever you think is best. Honestly, I'm completely clueless here," Li Tang said with sincerity.
These weren't empty words; he was telling the truth. He only knew that a large gold deposit existed near Chapleau—but he had no precise details about its exact location or mineralization characteristics. He'd merely heard about it because the gold mine had once received a prestigious exploration achievement award. After all, who had the leisure to study mineralization theories about a distant foreign gold deposit in detail?
Mark knew nothing about the technical aspects but followed along out of sheer curiosity, wondering exactly how Li Tang conducted gold exploration.
For an outsider like Mark, it was mere spectacle. After all, the project had an initial budget of just five million USD. If no promising results appeared, they'd pull out quickly without significant losses. Moreover, in that scenario, Barrick Gold wouldn't owe Li Tang a penny. Given Li Tang's high profile and global reputation, Mark reasoned he wouldn't waste everyone's time wandering aimlessly around barren lands.
Bill, however, was puzzled. "I reviewed the historical geological data. It didn't mention any clear signs of gold mineralization here. Honestly, I'm baffled—why would Li Tang choose this particular location for exploration?"
"Do you see any real problems?" Mark asked, smiling brightly.
"Not exactly problems. I just can't understand Li Tang's logic. What exactly did he notice in these historical data sets that we all missed?" Bill had also been busy analyzing geological reports, following closely behind Li Tang's team for days now. "Those earlier geological surveys were publicly funded and quite superficial. I've inspected the data and compared it with field conditions. The classification of some geological formations is plainly incorrect. Fault lines drawn on the maps seem entirely random, displaced significantly from reality."
"Publicly funded geological surveys are rarely thorough," Mark agreed knowingly. It was precisely for this reason that major mining companies invested heavily in their own exploration departments, recruiting elite talent.
"I contacted the companies responsible for the previous geological surveys. They insisted that there were virtually no promising geological signs around Chapleau. They explicitly stated that finding gold here was basically impossible."
"Can you trust their word?" Mark questioned, having just heard Bill criticizing the superficiality of these publicly funded surveys moments earlier.
"Not entirely trustworthy, but still worth considering," Bill responded cautiously.
"So you're saying nobody believes we can find gold—let alone a significant gold deposit—in this location?" Mark wasn't disappointed by this revelation. Instead, his eyes sparkled with excitement, as if ignited by an inner flame.
"Exactly. No one thinks there's gold here," Bill affirmed. "I spoke to several colleagues from the Ontario Geological Association. They all agreed. Some even personally conducted geological surveys here and found nothing of interest."
"Then we're on the right track!" Mark laughed cheerfully. "That's exactly Li Tang's style—discovering massive deposits in the most unlikely places. If everyone had noticed gold here, countless prospectors would already have flocked to the region, leaving us no opportunity. Think about Talleco Copper-Gold Mine. If Greis hadn't missed it, would he have sold the world's largest copper-gold deposit for just eight million USD? Now, even if he offered eight billion USD, Li Tang wouldn't sell it back!"
"Yes, you're right," Bill agreed. Ever since news broke of the Talleco discovery, Bill had closely followed Li Tang, growing fascinated with this young Chinese man's remarkable achievements. "I understand Li Tang frequently defies expectations, but still—I just can't see the logic clearly here."
"No need to overthink it. Just watch and see," Mark pointed toward the open wilderness. "Look at our Barrick Gold exploration team. I instructed them to follow Li Tang's orders explicitly. If Li Tang tells them to jump off a cliff, they'll jump without hesitation—maybe beneath that cliff they'll find a hidden golden nest left by a dragon."
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