The Panguna Orebody: A Case Study

Assessment of mineral reserves in any ore- body hinges on both mineralisation characteris- tics and the economics of extraction. The mineral reserves statement depends on interpre- tation of diamond drill information by geolo- gists, determination of the production plan and operating costs by mining and metallurgical engineers and prediction of future income by economists. The techniques used to generate the mineral reserves statement for Bougainville Copper Limited in 1969 are described and the accuracy of predictions discussed. Preliminary results from a geostatistical reassessment are comp- ared with the ore zone model, blast hole data and concentrator reconciled production results.