Hello Jon,
yes "exploratory" is the right word, I think.
The rest., ... no not "claim".
Mining is a very old business in Germany, when the Rammelsberg
was closed in 198x, this mining was more than 1000 years old.
And: often special words in old professions retain the meaning
of the word centurys ago.
Mutung is related to Mut, Gemüt, Vermutung, and English mood !
The closest modern use is "Vermutung" (assumption).
Where You assume that something is to be mined, You make
a "Mutung", which means to dig (today maybe a drill) some
dozen/hundred meters down to look for "Höffigkeit"(wether there is some
promise.
The word is used by miners only, average Germans would not know it.
Georg