Nova-Bollinger unfolding versus DA estimate

Resource characterisation is critical for informed decisions in both strategic and operational space. The sources of information for resource characterisation are limited by: direct measurement of resource attributes, such as grades, rock-types, mineralogy, and are available only from sparse locations, ie drill holes; or indirect geophysical measurements such as seismic, gravity or electro[1]magnetic survey. Data collection tools, methods, and processing technologies are constantly improving providing a broad spectrum of options for data collection strategies. The cost of each data survey varies from thousands to millions of dollars with the value of each additional data having diminishing return for a particular business decision. The value of information analysis provides the optimal decision on data collection strategy within a limited available budget. This work presents an example of value of information analysis for new Blast Hole Assay Tool (BHAT) and Reverse Circulation Grade Control (RCGC) data used in addition to the wider spaced exploration data. The value of information is quantified in terms of reduction of grade uncertainty, ore loss and dilution by comparing different combinations of data collection methods. Four different strategies were considered: exploration samples in addition to 50 per cent of blastholes surveyed with BHAT, exploration samples in addition to 33 per cent of blastholes surveyed with BHAT, exploration with wide-spaced RCGC data, and exploration without additional grade control. For each strategy the observed values have been simulated using advanced multivariate geostatistical simulations and compared with simulated ground truth models. The calculated uncertainty, ore loss and dilution informed the optimal data collection strategy. Opportunity to reduce sample density from the nominal 50 per cent of drill holes was evaluated.