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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?

Select compliance status.

To ensure that mineral resources are classified according to industry standards.
2
What is the cut-off grade used for resource estimation?

Enter the cut-off grade in g/t.

To verify that the cut-off grade used is appropriate for the resource estimation process.
Min: 0
Target: 0.5 g/t
Max: 10
3
Provide a brief description of the geological model used.

Describe the geological model.

To ensure that a well-defined geological model is in place for reserve estimation.
4
Which estimation method was applied for reserve estimation?

Select the estimation method.

To validate the method used in the reserve estimation process.
5
Is there a mining plan in place for the project?

Indicate if a mining plan exists.

To ensure that a viable mining plan exists to support the resource estimation.
6
Is the geological data considered complete for modeling purposes?

Select the completeness status of geological data.

To ensure that all necessary geological data is available for accurate modeling.
7
What software was used for geological modeling?

Enter the name of the geological modeling software.

To verify the suitability and credibility of the software used for modeling.
8
What is the resolution of the geological model (in meters)?

Enter the model resolution in meters.

To assess whether the model resolution is appropriate for the scale of the project.
Min: 0
Target: 5
Max: 100
9
Has the geological model been validated by an independent expert?

Select the validation status of the geological model.

To ensure that the model has undergone independent validation for accuracy.
10
Are the assumptions made during modeling documented?

Indicate if the assumptions are documented.

To confirm that all assumptions are recorded for transparency and future reference.
11
Has the reserve estimation report been reviewed by a qualified professional?

Provide the name of the reviewer and their qualifications.

To ensure that the report has undergone a thorough review for accuracy and compliance.
12
What is the total amount of reserves estimated (in metric tons)?

Enter the total reserves in metric tons.

To verify the total reserves estimated against the company's expectations.
Min: 0
Target: 100000
Max: 1000000
13
Has an economic viability assessment been performed on the reserves?

Select the status of the economic viability assessment.

To confirm that the reserves are economically feasible for extraction.
14
Has the environmental impact of mining the reserves been considered?

Indicate if environmental impact assessments have been performed.

To ensure that environmental factors are taken into account in the estimation process.
15
What date was the reserve estimation last conducted?

Enter the date of the last reserve estimation.

To track the recency of the reserve estimation and ensure it is up to date.
16
What method was used for collecting exploration data?

Select the data collection method used.

To ensure that appropriate and reliable methods were used for data collection.
17
What was the total number of samples collected during exploration?

Enter the total number of samples collected.

To assess the adequacy of the sampling process for exploration.
Min: 1
Target: 150
Max: 10000
18
Is there documentation available for the fieldwork conducted?

Provide details of the fieldwork documentation.

To confirm that all exploration activities are documented for traceability.
19
Was the exploration conducted in compliance with local regulations?

Indicate if the exploration was compliant with regulations.

To ensure that exploration activities adhere to legal requirements.
20
When did the exploration activities begin?

Enter the start date of exploration activities.

To understand the timeline of exploration activities.
21
Is the mine plan approved by the relevant authorities?

Select the approval status of the mine plan.

To ensure the mine plan meets regulatory and safety standards.
22
What is the projected production rate (in tons per day)?

Enter the projected production rate in tons per day.

To assess the feasibility and efficiency of the mine plan.
Min: 0
Target: 2000
Max: 10000
23
Which software was used for mine planning?

Enter the name of the mine planning software.

To verify the reliability and capabilities of the software utilized.
24
Was a risk assessment performed for the mine plan?

Indicate if a risk assessment was conducted.

To ensure that potential risks have been identified and mitigated.
25
When was the mine plan last updated?

Enter the date of the last update of the mine plan.

To track how current the mine plan is and ensure it reflects the latest data.

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