✳️Resource Estimation:
Resource estimation involves assessing the quantity and quality of mineral resources in a given deposit. The process typically includes:
- Data Compilation:
- Gathering and compiling geological, geophysical, and drilling data related to the mineral deposit.
- Geological Modeling:
- Creating a three-dimensional geological model of the deposit, considering various geological parameters.
- Sampling and Analysis:
- Conducting sampling through drilling or other methods to collect representative samples for analysis.
- Grade Estimation:
- Estimating the grade of the mineral deposit based on assay results from sampled materials.
- Variability and Uncertainty Analysis:
- Assessing the variability and uncertainty in the geological and grade data to understand the reliability of the estimates.
- Interpolation Techniques:
- Using interpolation methods (e.g., kriging, inverse distance weighting) to estimate grades at unsampled locations within the deposit.
- Resource Classification:
- Classifying resources into categories (indicated, inferred, measured) based on the level of confidence in the estimates.
- Reporting:
- Preparing a resource estimation report that details the methodology, data used, assumptions, and results.
✳️Cut-off Grade:
The cut-off grade is a critical parameter in mining, representing the lowest grade of ore that can be economically mined and processed. The cut-off grade is determined through:
- Economic Considerations:
- Assessing the costs associated with mining, processing, and extracting minerals, and comparing them with the expected revenue.
- Net Present Value (NPV) Analysis:
- Utilizing NPV analysis to determine the economic viability of extracting ore at different grades.
- Sensitivity Analysis:
- Conducting sensitivity analyses to evaluate the impact of changing commodity prices and operating costs on the cut-off grade.
- Optimization:
- Optimizing the cut-off grade to maximize the profitability of the mining operation.
- Mining Method Considerations:
- Considering the mining method employed (open-pit, underground) and its impact on determining the cut-off grade.
- Market Conditions:
- Taking into account market conditions, demand for the mineral, and fluctuations in commodity prices.
Balancing resource estimation with a realistic cut-off grade is crucial for efficient mining operations, ensuring economic viability while maximizing the recovery of valuable minerals.
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Senior Engineer-Geotechnical
5moKenny, that’s why data validation is important. Previous owners simply ignored it and it’s took two decades……. Well done …. Keep it up