The problem
After the first holes, everyone asks the same question: how big could this be? A formal mineral resource estimate cannot answer it yet, because the drilling is too sparse, and the estimate would cost more than the stage justifies. A single guessed number answers it badly.
What the data can support at this stage is a range: a low case and a high case, the assumptions that separate them, and the drilling that would bring them closer together.
What you send
Drillhole data with assays, any density measurements, and the 3D model if one exists. Tell us who the answer is for: an internal decision, a partner or a funding round.
What we do
- Build the mineralised volume under more than one geological interpretation where the data allows it
- Derive tonnage and grade as ranges, with low and high cases and the assumptions behind each
- Test how the range moves with cut-off, metal price and depth
- Rank additional holes by how much each would narrow the range
- Write down the limits of the exercise in the same document as the numbers
What you get
A screening report with ranges, sensitivities and a recommended drilling plan, and the scenarios shown in the browser model.
Example: a conceptual tonnage and grade range from 25 existing holes (“8–15 Mt at 0.4–0.6 % CuEq, open to the east”), its sensitivity to metal prices and depth, and the ten additional holes that would narrow the range most.
What it cannot say
The figures are conceptual. They are not a mineral resource or reserve under NI 43-101 or JORC, they carry no classification, and it is uncertain whether further exploration would turn them into a resource. They are decision support for you and your partners. Any public disclosure requires a qualified or competent person and the cautionary language the codes prescribe.
Questions
Is this a mineral resource estimate?
No. It is a conceptual range for internal decisions. A mineral resource is estimated and classified by a qualified or competent person under NI 43-101 or JORC, on denser drilling than a screening uses.
Why give a range and not one number?
Because at this drilling density one number would hide most of what is unknown. The width of the range is information: it shows how much the next holes are worth.
Can the ranges be shown to investors?
Privately, as part of a data room, with their conceptual status stated. Public disclosure by a listed company is regulated and needs a qualified person's sign-off.