Approaches to reporting grade uncertainty in high-nugget gold vein projects
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High-nugget effect vein-gold systems are generally considered to be one of the most challenging of deposit types to evaluate and exploit. To potential investors and mining companies, they are viewed as high risk because of the associated uncertainties in the grade estimate and general paucity of Ore Reserves at production start-up. However, despite the well-known risks, these deposits often have a grade upside that makes them potentially attractive. The reporting of resource grade is of importance and perhaps even more so is the reporting of the associated uncertainty attached to the grade estimate. The use of the grade estimate supported by a grade range is recommended to achieve more complete and useful disclosure. The definition of the grade range can be somewhat subjective, ranging from opinion based estimates through to data-based estimates and geostatistical conditional simulation. Whichever method used, the over-riding issue must be the provision of enough data of appropriate quality and full disclosure to the public of relevant uncertainties.
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Parhizkar, A.; Ataei, M.; Moarefvand, P.; Rasouli, Vamegh (2012)Many of the open-pit mines suffer from the lack of reconciliation between estimated and actual grades. In a mining operation, grade reconciliation is the comparison between the values of the estimated grade calculated in ...
Dominy, Simon; Edgar, W. (2012)High nugget effect gold veins are generally considered to be one of the most challenging of deposit types to evaluate and exploit. To potential investors and mining companies, they are viewed as high risk because of the ...
Grade Uncertainty and its Impact on Ore Grade Reconciliation between the Resource Model and the MineParhizkar, A.; Ataei, M.; Moarefvand, P.; Rasouli, Vamegh (2011)Major differences between estimated grade and actual grade are a usual problem in many open pit mines. The estimated grade is predicted in exploration stage from data obtained from boreholes, whereas the actual grade would ...