Classification of ore reserves based on geostatistical and economic parameters
CIM Bulletin, Vol. 86, No. 966, 1993
H.H. Wober, MDE International, Mine Development Engineering Ltd., Vancouver, British Columbia, and P.J. Morgan, Goldbelt Resources Ltd., United Kingdom
The proposed classification of ore reserves based on geostatistical and economic parameters is designed to be used as a communication tool to identify for investors, bankers, and financial analysts the degree of risk associated with a specific class of ore reserves. The class designation identifies the degree of accuracy of the estimates for tonnage and grade of annual production volumes of ore. It thus enables decision makers to quantify the risks and uncertainties inherent to the ore reserve in achieving over-all economic goals and annual financial objectives.
Ore reserves, Economic expectation, Geostatistical methods, Feasibility studies, Definition of ore, Risk, Production volumes.