Geostatistics for the Evaluation of Precious Metals

Deposits of gold, silver and other precious metals often display a high variability of grade values, usually a very low average metal content and are frequently not easy to sample reliably. The characteristics, together with the volatility of precious metal prices, make evaluations of precious metal deposits extremely difficult to make. Geostatistical estimation techniques can be used to make grade estimates of precious metals and to assess the reliability of these estimates. Two case studies are presented.