THREE-PART QUANTITATIVE ASSESSMENTS OF UNDISCOVERED MINERAL RESOURCES AND MONTE CARLO SIMULATION

The three-part quantitative assessment of undiscovered mineral resources is a comprehensive decision-making process that involves multi-levels and many factors. The three-part quantitative assessment is not a methodology completely but a protocol that results in quantitative estimates of undiscovered mineral resources, and the three-part assessment does not preclude the use of any method that is consistent with the other parts of the assessment. With the development of computer science and information-processing technology, the three-part quantitative assessment of undiscovered mineral resources tends to systematization, modeling, digitalization, and visualization. During Monte Carlo computer simulation, it should ensure that all statistical parameters, such as the number of estimated deposites, grades, and tonnages, are independent each other.