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Mine Site Mineral Resource Management and Reserve Estimation Audit Checklist

A comprehensive audit checklist for evaluating and improving mineral resource management and reserve estimation practices in mining operations to ensure accurate reporting and optimal mine planning.

Mine Site Mineral Resource Management and Reserve Estimation Audit Checklist

by: audit-now
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About This Checklist

The Mine Site Mineral Resource Management and Reserve Estimation Audit Checklist is a vital tool for ensuring accurate, reliable, and transparent reporting of mineral resources and reserves in mining operations. This comprehensive checklist addresses key aspects of geological modeling, sampling methods, grade estimation, cut-off grade determination, and reserve classification. By implementing regular audits using this checklist, mining companies can improve the quality of their resource and reserve estimates, optimize mine planning and production strategies, and maintain investor confidence through adherence to international reporting standards. Effective mineral resource management and reserve estimation are crucial for sustainable mine development, operational efficiency, and long-term economic viability of mining projects.

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Industry

Mining and Metals

Standard

Mineral Reserve Reporting Standards

Workspaces

Mine Site
Exploration Areas
Geological Modeling Offices

Occupations

Resource Geologist
Geostatistician
Mining Engineer
Economic Geologist
Competent Person (as defined by reporting codes)
1
Is the resource classification compliant with JORC Code or NI 43-101?
2
What is the cut-off grade used for resource estimation?
Min: 0
Target: 0.5 g/t
Max: 10
3
Provide a brief description of the geological model used.
4
Which estimation method was applied for reserve estimation?
5
Is there a mining plan in place for the project?
6
Is the geological data considered complete for modeling purposes?
7
What software was used for geological modeling?
8
What is the resolution of the geological model (in meters)?
Min: 0
Target: 5
Max: 100
9
Has the geological model been validated by an independent expert?
10
Are the assumptions made during modeling documented?
11
Has the reserve estimation report been reviewed by a qualified professional?
12
What is the total amount of reserves estimated (in metric tons)?
Min: 0
Target: 100000
Max: 1000000
13
Has an economic viability assessment been performed on the reserves?
14
Has the environmental impact of mining the reserves been considered?
15
What date was the reserve estimation last conducted?
16
What method was used for collecting exploration data?
17
What was the total number of samples collected during exploration?
Min: 1
Target: 150
Max: 10000
18
Is there documentation available for the fieldwork conducted?
19
Was the exploration conducted in compliance with local regulations?
20
When did the exploration activities begin?
21
Is the mine plan approved by the relevant authorities?
22
What is the projected production rate (in tons per day)?
Min: 0
Target: 2000
Max: 10000
23
Which software was used for mine planning?
24
Was a risk assessment performed for the mine plan?
25
When was the mine plan last updated?

FAQs

The audit should be performed annually, with additional reviews following significant exploration results, changes in economic parameters, or modifications to mining methods.

The checklist covers geological data collection and validation, QA/QC protocols, geostatistical analysis, 3D modeling techniques, cut-off grade determination, mining dilution and recovery factors, and classification of resources and reserves.

The audit team should include qualified geologists, geostatisticians, mining engineers, economic geologists, and independent consultants with expertise in resource estimation and reporting standards.

By ensuring accurate resource and reserve estimates, the checklist helps optimize mine design, production scheduling, and investment decisions, leading to more efficient and economically viable mining operations.

Yes, the checklist can be customized to address specific geological characteristics, estimation challenges, and operational considerations for various mineral deposit types and mining methods, while maintaining core principles of best practice in resource estimation.

Benefits of Mine Site Mineral Resource Management and Reserve Estimation Audit Checklist

Enhances accuracy and reliability of mineral resource and reserve estimates

Ensures compliance with international reporting standards (e.g., JORC, NI 43-101)

Optimizes mine planning and production strategies based on robust estimates

Improves investor confidence through transparent and credible reporting

Supports long-term sustainability and economic viability of mining operations