Quantitative mineral-resource assessments

Quantitative mineral-resource assessments are defined as the numerical estimate of the amount, quality, and in some cases, value of undiscovered minerals present within a specified area (tract). Their purpose is to provide a framework for making decisions by governments or institutions concerning mineral resources under conditions of uncertainty. Due to the uncertainty inherent in assessment of unknown resources, the results are presented probabilistically. The resources are in undiscovered mineral deposits whose existence is postulated based on indirect geologic evidence. The mineral deposits are believed to exist within a specified distance from the surface of the ground, or an incompletely explored mineral occurrence or prospect that could have sufficient size and grade to be classed a deposit. A mineral concentration of sufficient size and grade richness that it might, under the most favorable of circumstances, be considered to have potential for economic development is a mineral deposit (Ore).

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