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UNEARTH THE BASIC FOUNDATIONS
OF RESOURCE EVALUATION
Patrick Maher
Manager - Eastern Australia & Pac-RIM
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Resource Project Evaluation
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Mineral Exploration & Mining Project Evaluation
Resource Project Evaluation
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Resources & The Investors
Evaluation of Risks
Resource Project Evaluation
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Decreasing Risk
Exploration Study Phase Operations
Resource Project Evaluation
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Strengths
Weaknesses
OPPORTUNITIES
Threats or RISKS
Resource Project Evaluation
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Resource Project Evaluation
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Basic Foundations –
Geology and Mineral Resource Estimation
What underpins a project’s value?
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Source: Burgundy Mining Advisors, 2013
Foundations of Value
= Geology & Mineral
Resource Estimation
Wrong geology = rubbish resource
= fantasy NPV
With Mineral Resource estimates
focus on:
Volume / Grade / Density
Focus on Basic Foundations
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Public Reporting Codes (e.g. JORC) provide an excellent
starting point
• The Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves (‘the JORC Code’) is a
professional code of practice that sets minimum standards for
Public Reporting of minerals Exploration Results, Mineral
Resources and Ore Reserves.
• Table 1
• Table 1 provides a checklist or reference of criteria to be considered by
the Competent Person in developing their documentation and in
preparing the Public Report.
• This includes Geology and Mineral Resource estimation.
Where to look?
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Basic Steps in the Big Picture
• Essential basic steps in evaluating any resource project
(exploration or mining) focus on the quality of work done
at the geology and resource estimation stages.
• Generating an understanding of these two aspects of a
mineral resource project can lead to a solid understanding
of the projects worth and potential for success.
• A Mineral Resource estimate built upon solid geological
interpretation is the best foundation for any subsequent
Mining Study.
Resource Project Evaluation
www.csaglobal.com18th October 2018 Brisbane Resources Roundup
CSA Global is a leading mining, geological, technology and management consulting
company which provides high quality solutions to our clients in the global minerals
industry. Our staff include geologists, mining engineers, project managers, data
management professionals and technical personnel.
About CSA Global
www.csaglobal.com18th October 2018 Brisbane Resources Roundup
For more information
please contact:
Follow Us On:
18th October 2018 Brisbane Resources Roundup www.csaglobal.com
Graham Jeffress
Manager – Corporate