Geological and economic assessment of reserves

projects implemented

400+

Why is a geological and economic assessment of reserves needed?

A geological and economic assessment is carried out in order to obtain data on the amount of reserves in the subsoil, their quality and features of the geological structure; economic indicators of the feasibility of developing the deposit are calculated based on this data. Such an assessment allows to assess all the risks and costs of developing the subsoil and, accordingly, shows the balance between costs and profits and the pay-off period for capital investments in the project.

What stages does a geological and economic assessment consist of?

– geological exploration materials for the past periods are studied;
– an audit of these materials is carried out and the quality of previously carried out works and their compliance with modern requirements for exploration and assessment of reserves is determined, the quality of raw materials is assessed;
– if necessary, the deposit is further explored and verification wells are drilled with core sampling and laboratory tests;
– reserves are calculated;
– a feasibility study is performed;
– a report on geological and economic assessment is prepared and submitted for state examination to the State Commission for Mineral Resources of Ukraine