Quantitative Optimisation of Drilling for Brownfields Mineral Exploration
Access Status
Open access
Date
2022Supervisor
Eric Lilford
Jose Saavedra-Rosas
Type
Thesis
Award
PhD
Metadata
Show full item recordFaculty
Science and Engineering
School
WASM: Minerals, Energy and Chemical Engineering
Collection
Abstract
This research presents a novel optimisation framework for brownfields exploration drilling. The proposed optimisation methodology has been developed applying geostatistical methods and modern portfolio theory. The use of conditional simulations ensures that geological uncertainty is taken into account, and the application of Markowitz portfolio theory makes drilling funds allocation optimal. The proposed method closes the gap in current research by incorporating the inherent geological uncertainty of an exploration target and mineral economics.