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Mineral resource estimation is used to determine and define the ore tonnage and grade of a geological deposit, from the developed block model.There are different estimation methods used for different scenarios dependent upon the ore boundaries, geological deposit geometry, grade variability and the amount of time and money available.
A McKelvey diagram or McKelvey box is a visual representation used to describe a natural resource such as a mineral or fossil fuel, based on the geologic certainty of its presence and its economic potential for recovery. The diagram is used to estimate the uncertainty and risk associated with availability of a natural resource.
Mineral Resources are further sub-divided, in order of increasing geological confidence, into inferred, indicated and measured as categories. Inferred Mineral Resource is the part of a mineral resource for which quantity, grade (or quality) and mineral content can be estimated with a low level of confidence. It is inferred from geological ...
Quantitative mineral-resource assessments are defined as the numerical estimate of the amount, quality, and in some cases, value of undiscovered minerals (that is, metal or industrial mineral) present within a specified area (tract). Their purpose is to provide a framework for making decisions by governments or institutions concerning mineral ...
Preliminary feasibility studies are done by factoring known unit costs and by estimating gross dimensions or quantities once conceptual or preliminary engineering and mine design has been completed. Preliminary feasibility studies are completed by a small group of multi-disciplined technical individuals and have an accuracy within 20-30%.
Provides guidance on reporting Historical mineral resource estimates Proscribed disclosure within the National Instrument precludes a company from reporting; Quantity, grade, or metal or mineral content of a deposit that has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a ...
In September 2009, Orex published a Mineral Resource Estimate compliant with National Instrument 43-101 standards. They presented the resource estimate with a variety of cut off grades, the two most notable are represented below: [8] With a cut-off grade of 0.5 g/t Au, the Mineral Resource was as follows:
Cominco Resources is a private company which is developing the US$2billion Hinda phosphate project located in The Republic of the Congo. Through its subsidiary it owns 100% of the Hinda Phosphate Project, which comprises the Hinda Permit (granted in December 2009), and the Kolatchikanou Permit (granted in June 2011).