GeoInnova seeks to design a classification scheme in line with international codes, which effectively reflects the confidence in mineral resources, considering the nature of the deposit as well as the project stage.
The estimated resources should be classified according to their level of confidence, the methods commonly used are:
- Geometrical criteria and information quantity
- Geostatistical criteria such as, kriging variance, slope of regression, drillhole grid spacing, to name a few
Besides from using the current practices, Geoinnova has a resource categorization methodology based on the use of conditional simulations, which considers the following aspects:
- Risk function
- Potential estimation errors
- Uncertain of mineral resources (grades and geological units)
- Change of support considering production volumes
- Quality of data
Geoinnova has employees that are enrolled in the Chilean Commission of Qualification of Competency in Resources and Mineral Reserves, which has a reciprocity agreement with the SME of USA, OSC of Canada and the ASX of Australia (JORC).