Multimetal recoverable reserve estimation and its impact on the Cove ultimate pit design

Open pit optimization and mine design depend upon a realistic estimate of the grade-tonnage dis¬tribution. The estimate should reflect what can be reasonably recovered and processed. The McCoy/Cove operation in central Nevada is a gold and silver mine. Recoverable reserve estimations of gold and silver were made using indicator kriging and the indirect log normal variance correction to construct the grade- tonnage distribution. Optimal pits were generated using this distribution, and the results were compared to the pits generated by ordinary kriging and indicator kriging block mean methods. The results indicate that the proposed method for multimetal recoverable reserve estimation shows an improvement in terms of predicting the recoverable tons and grades. The optimal pits generated from the recoverable resource model are larger than those generated by the ordinary kriging and indicator kriging block mean methods. This model maximizes the overall recovery of the mineral resource.