All realizations all the time

Abstract

Geostatistical simulation of mineral deposits is becoming commonplace. The methodology and software are well established and professionals have access to the training and checking steps required for reliable application. Managing multiple realizations, however, remains daunting and unclear for many: (1) the non-uniqueness of multiple realizations is disturbing; (2) many calculations including mine planning algorithms are aimed at a single block model; and (3) there are concerns of excessive computational requirements. The correct approach to managing multiple realizations is reviewed: Consider all realizations all the time and base decisions on the appropriate expected value. The principles of simulation and decision making are reviewed for resource management.