Conventional Methods of Resource / Reserve Estimation

Content
10 modules

Rating

Course Length
18 hours

Instructor
Edumine Courses

Released
10 Oct 2019

Price
$449.00

Description

The investment necessary to start a mine is of the order of 10's to 100's of millions of dollars. In order for the investment to be profitable, the potential product in the ground must be present in adequate quantities and quality to justify a decision to invest. Mining and processing systems used to extract the products must then operate so as to produce revenue to offset the planned investment and to provide an acceptable profit. Clearly, all technological and financial decisions regarding planned production are built on an understanding of the mineral assets available.

Thus, the estimation of grade and location of material in the ground (in situ resources) must be known with an acceptable degree of confidence. This is especially true of certain large, low grade deposits for which grade is only slightly above minimum profitable levels, and for some precious metal deposits where only a small percentage of mineralized ground can be mined at a profit. Mining profits are strongly leveraged to product price and to realized grade of material mined. A small difference between planned (estimated) and realized production grade, or a small change in metal price, can have a large impact on mine profitability.

The three undertakings, ore estimation, mine planning and grade control, are complementary in an efficient mining operation and are natural progressions one to another. The integration of these three endeavors is important because the grade control system must balance with the ore reserve as well as with the final products of the operating plant, and both estimation and grade control are influenced by planned operational procedures. If this balance is not achieved then the original investment may be in jeopardy. Reappraisals of mineral inventories can be necessary many times both prior to and during the life of a mine.

Resource/reserve estimation procedures commonly are considered in two categories, empirical and geostatistical. This course is confined to the principal empirical methods of estimation.

This is a premium course which has been peer-reviewed by a committee appointed by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the Society for Mining, Metallurgy and Exploration (SME).

Authors

  • Alastair J. Sinclair

 

Duration: 18 Hours
Access: 90 Days
Category: Exploration
Level: Specialize
Version Date: June 22, 2006


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Objectives

Course Content

The principal topics covered include:

  • Essential Concepts, Geological Continuity, Value Continuity
  • Dilution, Regionalized Variables, Accuracy and Precision, Block Estimation
  • Ore/Waste Boundaries, Conditional Bias, Cross Validation, Systematic Approach
  • Sectional Methods, Polygonal and Triangular Methods, Inverse Distance and Contouring

The course comprises 16 working sessions, 5 exercise sessions, numerous figures and supporting materials, and 4 interactive review sessions designed to confirm the learning objectives. Course duration is equivalent to approximately 18 hours of viewing content.

Learning Outcomes

  • Discuss the essential concepts of mineral reserve estimation using empirical methods, including the concepts of geological continuity and value continuity.
  • Discuss the effects of dilution, regionalized variables, accuracy and precision, ore/waste boundaries, and conditional bias on mineral reserve estimation.
  • Discuss the requirements of block estimation, the advantages of a systematic approach, and use of cross-validation.
  • Discuss empirical methods of mineral reserve estimation, including sectional methods, polygonal and triangular methods, and inverse distance and contouring methods.
  • Apply the knowledge gained to understanding, reviewing, and performing mineral reserve estimations.

Recommended Background

  • A degree in geology, mining or related discipline.
  • An understanding of the basic principles and methods of statistics.
  • An understanding of the basic principles of geostatistical semi-variograms.

Certificate

By completing/passing this course, you will attain the certificate Edumine Certification

Learning Credits

CEU
1.8
PDH
18.0
1
Table of contents
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Module 1: Mineral Inventory Concepts
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Knowledge Check - Module 1: Mineral Inventory Concepts
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Module 2: Estimation Concepts
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Knowledge Check - Module 2: Estimation Concepts
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Module 3: Dealing with Error and Bias
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Knowledge Check - Module 3: Dealing with Error and Bias
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Module 4: Estimation Procedures
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Knowledge Check - Module 4: Estimation Procedures
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Module 5: Exercises
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Added 14 days ago, by Robert
 
Added 2 months ago, by Fred
 
Added 4 months ago, by Liz
 
Added 5 months ago, by Santiago
The course was robust and easy to follow. However, I was expecting to have the oportunity to ask questions, and have some interaction with professor Sinclair.
 
Added 8 months ago, by Eric
 
Added 10 months ago, by Paul
 
Added 12 months ago, by Matthew

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