The Relative Rating Of Macro Kriging And Other Techniques As Applied To Borehole Valuations Of New Gold Mines

Sampling data from large mined out areas of, existing Witwatersrand mines is split into areas accepted as 'mines' and used to provide for each mine the equivalent of a number of sets of borehole values as well as the follow-up 'actual' value. This data is used to establish the spatial structures on a macro scale between 'mines' for grade as well as variance and the suitability of the three-parameter lognormal model Is tested for the borehole and 'mine' frequency distributions. A comprehensive range of borehole valuation techniques is then applied to a large number of borehole sets on an individual mine basis. The results for each technique are then compared with the corresponding follow-up 'actual' values for these mines. After normalisation via the three- parameter lognormal model the estimates are also correlated with the 'actuals' to define any conditional biasses and to establish the observed error distributions and error variances of the estimates. On this basis the various techniques are rated for their relative efficiencies and the significance of the advantages gained.