Geostatistical Evaluation of Mineral Resources and their Uncertainty under the New Regulatory Environment

SEPTEMBER 30 – OCTOBER 4, 2024 

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Objectives and Content

This course is designed according to the latest regulations on public reporting of Mineral Resources. It aims at showing how state-of-the-art statistical and geostatistical techniques help answer the requirements of those regulations in an objective and reproducible manner. A particular emphasis is put on understanding sampling and estimation errors and related uncertainties, as well as how to assign levels of estimation confidence through the application of resource classification fundamentals. In addition to a solid introduction to mining geostatistics, this course provides a comprehensive overview of how modern techniques, such as conditional simulations, are currently applied in the industry.

Attendees will learn:

• How to conceive of and produce mineral resource models that address the short- and long-term needs of mining companies
• How to extract geological insights from the statistical analysis of data
• The sources of error and uncertainty at different stages in the mineral resources modelling process
• The advantages and limitations of different estimation and simulation methods
• How to incorporate the knowledge of geological controls of mineralization in the mineral resources workflow
• How to validate and reconcile mineral resources estimates
• How to communicate mineral resources estimates and their confidence in compliance with the standards of NI43-101, SEC Mining Disclosure Rules and JORC
• The various uses of conditional simulations, such as quantification of the uncertainty in mineral resources and value of information studies, strategic mine planning and project evaluation
• How to integrate orebody simulations into mining planning

Please note: It is strongly recommended that participants bring a laptop. No previous exposure to statistics and geostatistics is required.

Instructors: David F. Machuca, SRK Consulting and Roussos Dimitrakopoulos, McGill University 

Venue: PLACE Montreal, QC 

Learn more and register here.