Resource geology has focused closely on understanding interesting anomalies in the earth’s crust and defining their genesis and proliferation. This work has not necessarily been focused on how these anomalies and associated mineralization will be profitably extracted. Certainly, various methods of prioritization are employed to rank drilling targets based on depth, expected grade, volume, and general continuity of a potential ore body. However, an actual quantification of the potential value of each planned drillhole in an exploration campaign is rarely performed. Exploration drilling is an expensive capital investment, and it is critical that drilling is designed in a fashion that maximizes the value produced in the form of additional profitable resources or reserves. We show that not only is the quantification of value possible to some extent, but it is also necessary to ensure the most value is gained from exploration and resource drilling. A mining project is a business, and it is the responsibility of those working for that business to ensure that expenditures are invested in a manner that maximizes the potential return for the business.
Click here to download the full presentation
