Khalid... Once I get the answer I shall leave my obligations in the university and enjoy the GIS determined gold fortune. GIS is just a tool to determine a location, regardless it is a gold mine or contaminated site to help in the environmental site assessment.
Hyperspectral data is efficient and more appropriate to detect the presence of gold in an area. Study of Gold spectroscopy will allow to know about the absorption features with respect to wavelength. and then image can be classified by using supervised classification techniques. We can also check the abundance of gold in particular pixel using spectral unmixing technique . if we get to know the absorption features in gold spectral signature then using spectral smapling method we can also identify the gold within different materials of spectral signatures.
GIS is as good in this case of applied geosciences as it is any other discipline of geosciences. It is an advanced tool of spatial assessment of data and the results obtained depend on the experience and skillfulness of the operator. It is neither a model nor the philosopher´s stone of geosciences.
GIS is a tool only, but can be used for the analysis of hypersprectral data, the use of which for gold exploration depends on the type or genetic setting of the gold deposit. Volcanogenic epithermal gold at Rodalquilar, Spain, for example can be located by identifying/mapping hydrothermal alteration. Read the open access paper by
Mielke, C., Rogass, C., Boesche, N., et al. (2016) EnGeoMAP 2.0—automated hyperspectral mineral identification for the German EnMAP Space Mission. Remote Sens. 2016, 8, 127. Open Acess. doi:10.3390/rs8020127
as others have said, GIS is just a tool; the representation of/consideration of the key controls on gold mineralization in the GIS system would be of paramount importance (e.g., fault control, rock-type control (physico-chemical trap), etc.). check out a poster my student (Raja Yarra) did a few years back on use of airborne hyperspectral data use in recognition of orogenic gold-associated hydrothermal alteration; it is in my research on ResearchGate. This wont work in highly vegetated areas, though.