Survey and critique of quantitative methods for the appraisal of mineral resources. Progress report. [Appraisal models for regional mineral resources]
Two major categories of appraisal methods (models) for regional mineral resources are identified by virtue of the manner in which mineral endowment is treated in the appraisal: implicit and explicit models. Implicit models do not identify nor specify the mineral endowment model. Mineral resources are inferred to exist as required to fulfill economic or secular relationships. Econometric models of mineral supply and Hubbert's time-rate trend projection are varieties of implicit models. Explicit mineral resource models separate the economic and endowment models and state the endowment model explicitly. Explicit models describe mineral endowment as a function of some physical aspect of the earth's crust, such as geology, volume of rock, density of mineral occurrences, and crustal abundance of an element. Economic factors are introduced subsequent to the appraisal of endowment either as an explicit model which interacts with the deposits inferred by the endowment model, or as a simple adjustment made directly on some aggregate measure of endowment.
- Research Organization:
- Arizona Univ., Tucson (USA). Dept. of Mining and Geological Engineering
- DOE Contract Number:
- AT(05-1)-16344
- OSTI ID:
- 7344933
- Report Number(s):
- GJO-6344; TRN: 76-018418
- Country of Publication:
- United States
- Language:
- English
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