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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.
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 ...
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 ...
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.
This is a list of free and open-source software for geological data handling and interpretation. The list is split into broad categories, depending on the intended use of the software and its scope of functionality.
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 ...
Giurco et al. (2009) [8] indicate that the debate about how to analytically describe resource depletion is ongoing. Traditionally, a fixed stock paradigm has been applied, but Tilton and Lagos (2007) [9] suggest using an opportunity cost paradigm is better because the usable resource quantity is represented by price and the opportunity cost of using the resource.
Following successful completion of two drilling programmes, an updated Mineral Resource estimate was completed by the joint venture partners in July 2011. [citation needed] In February 2009, Paladin completed the takeover of Fusion Resources, adding the Duke Batman and Honey Pot deposits to the existing Mount Isa project area. The capacity of ...