30 Seconds of Info – resource estimation and evaluation – confidence in your resource categories
Try to formalise the confidence in your resource categories: at least for a given deposit and/or commodity, try to communicate to all of the stakeholders what error (plus or minus, in metal terms) is meant by Measured, Indicated or Inferred Resources. Everyone will have an idea, you just want everybody to have the same idea for the same category. Commercial personnel and Engineers will generally have a more optimistic view of the confidence intervals than Geologists – you all need to be on the same page to manage expectations.
This week’s 30 Seconds of Info comes from Ian Glacken our Director of Geology and Principal Geology Consultant. firstname.lastname@example.org
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