Approaches to reporting grade uncertainty in high-nugget gold vein projects

S. C. Dominy, W. B. Edgar

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearchpeer-review

Abstract

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.

Original languageEnglish
Title of host publicationProject Evaluation 2012 - Proceedings
Pages95-107
Number of pages13
Publication statusPublished - 2012
Externally publishedYes
EventAUSIMM Project Evaluation 2012 - Melbourne, Australia
Duration: 24 May 201225 May 2012
http://www.ausimm.com.au/projectevaluation2012/

Conference

ConferenceAUSIMM Project Evaluation 2012
CountryAustralia
CityMelbourne
Period24/05/1225/05/12
Internet address

Cite this

Dominy, S. C., & Edgar, W. B. (2012). Approaches to reporting grade uncertainty in high-nugget gold vein projects. In Project Evaluation 2012 - Proceedings (pp. 95-107)