Lu Decomposition Conditional Simulations For Exploration Strategy Evaluations (a8c58db0-01c7-4ab8-ab72-84a8bbca10b0)

Characterizing exploration prospect potential has aspects that differ from those encountered during ore reserve estimation. One problem is determination of the ore reserve potential prior to acquisition of significant volumes of hard data. The evaluation is subjective and data are usually sparse and of uncertain quality. However, estimations of the ore reserve potential are commonly demanded by management before project funding will be approved. The estimations from several prospects, along with the uncertainties inherent to the estimation, are then used to compare and contrast the potential of several prospects, often with widely varying geologic models.