Core Values: Strategies To Maximize The Value of New Drillholes

Author(s): 
Brooke Miller
Date: 
Thursday, December 3, 2015
First presented: 
AEMA 2015
Type: 
Presentation
Category: 
Geology
 
 
A successful drilling program should be guided by the milestones of project development. Drillholes designed for a variety of analytical objectives can have multiple applications to increase the value of the project. By considering the types of information available and the required studies for permitting and project economics, stakeholders can maximize the value of their new drillholes. The resource estimate is the main vehicle for property valuation, and it is important to understand that the resource is defined by more than just metal grades. In addition to the abundance of economic elements, metallurgical recovery and rock density directly impact the resource. Rock quality, geochemistry, and groundwater influence the conceptual mining shape to which the resource is constrained, or the mine design, for more advanced projects. Although these characteristics may not be evaluated for all drilling samples, an abundance of additional data are available at minimal added cost, compared to re-drilling for those data later. 
 
A drilling program presents an opportunity to test the current conceptual model of a deposit, typically based on previous drilling programs. Validation of the historical dataset with data from strategically located new drillholes may increase the modeler’s confidence in the existing data set, and save the time and expense required for an extensive drillhole twinning program. By considering all technical studies required for project development, new drillholes can add value to the property beyond the resource estimate.

 

Feature Author

Brooke Miller
Brooke Miller is a resource geologist with over eleven years of experience in exploration and mining projects in the western United States. She is a Qualified Persons (“QP”) according to CIM NI 43-101 requirements. Her primary expertise is in geological modeling and data analysis, and she has contributed to technical reports from resource to feasibility stage. Field experience includes drill core and chip logging, highwall and drift mapping, and drilling program management. Software proficiency includes Leapfrog 3D®, MineSight 3D®, and familiarity in a variety of related programs.
Geological Modeling and Data Analysis Expert
MSc, CPG
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