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    Jorc - Slide1

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    Noviandry
    This document outlines the JORC exploration standard procedure and strategies for resource and reserve estimation. It discusses: - The background and purpose of the JORC code for public reporting - Requirements for competent persons, transparency, materiality, and classification - Benefits of JORC reporting for investors and management risk assessment - Most common exploration strategy including preliminary, deep, and infill drilling - Issues with current exploration practices and recommendations to improve data quality and drilling programs

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    Jorc - Slide1

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    Noviandry
    112 views35 pages
    This document outlines the JORC exploration standard procedure and strategies for resource and reserve estimation. It discusses: - The background and purpose of the JORC code for public reporting - Requirements for competent persons, transparency, materiality, and classification - Benefits of JORC reporting for investors and management risk assessment - Most common exploration strategy including preliminary, deep, and infill drilling - Issues with current exploration practices and recommendations to improve data quality and drilling programs

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    JORC - SLIDE1

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    This document outlines the JORC exploration standard procedure and strategies for resource and reserve estimation. It discusses: - The background and purpose of the JORC code for public reporting - Requirements for competent persons, transparency, materiality, and classification - Benefits of JORC reporting for investors and management risk assessment - Most common exploration strategy including preliminary, deep, and infill drilling - Issues with current exploration practices and recommendations to improve data quality and drilling programs

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    112 views35 pages

    Jorc - Slide1

    Uploaded by

    Noviandry
    This document outlines the JORC exploration standard procedure and strategies for resource and reserve estimation. It discusses: - The background and purpose of the JORC code for public reporting - Requirements for competent persons, transparency, materiality, and classification - Benefits of JORC reporting for investors and management risk assessment - Most common exploration strategy including preliminary, deep, and infill drilling - Issues with current exploration practices and recommendations to improve data quality and drilling programs

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    of 35

    THE JORC EXPLORATION STANDARD PROCEDURE

    INTRODUCING SRK CONSULTING


    Patrick J. Hanna (Principal Consultant) Graeme Duncan (Associate Senior Mine Eng.) Yoga Suryanegara (Senior Consultant) Tri Yoso (Senior Consultant) Galih Lutfihadi (Consultant) Eko Agus (Consultant)

    BACKGROUND JORC Code


    THE 2004 AUSTRALASIAN CODE FOR REPORTING OF MINERAL RESOURCES AND ORE RESERVES

    WHAT JORC CODE DOES


    Sets minimum standards for public reporting of exploration results, Resources and Reserves Provides a code (and guidelines) for classification of tonnage/grade estimates according to geological confidence and technical/economic considerations Describes the qualifications and types of experience required to be a Competent Person Provides a summary list of main criteria to be considered when preparing reports on exploration results, Resources and Reserves

    WHAT JORC CODE DOES NOT DO


    Regulate the procedures used by Competent Persons to estimate and classify Resources and Reserves (methodology) Regulate companies internal classification or reporting systems

    THE PRINCIPLES GOVERNING JORC REPORTS


    'Transparency' requires that the reader of a Public Report is provided with sufficient information, the presentation of which is clear and unambiguous, to understand the report and is not misled. 'Materiality' requires that a Public Report contains all the relevant information which investors and their professional advisers would reasonably require, and reasonably expect to find in the report, for the purpose of making a reasoned and balanced judgment regarding the mineralization being reported. 'Competence' requires that the Public Report is based on work which is the responsibility of a suitably qualified and experienced person who is subject to an enforceable professional code of ethics.

    JORC CLASSIFICATION

    THE BENEFITS OF JORC REPORTING


    Provides an internationally recognized standard for potential investors and financial institutions to readily evaluate a mining companys worth in terms of its Resources and Reserves. Provides a clear understanding to the companys management of the level of CONFIDENCE of their internal estimation of Resources and Reserves and therefore an understanding of the level of FINANCIAL RISK involved in the project.

    THE MOST STRATEGY FOR DELINEATION OF COAL MINE COMPANY TO DETERMINE RESOURCES AND RESERVES (Related to Drilling Program) EXPLORATION PRELIMINARY DRILLING (OUTCROP AND WILD CAT DRILLING) DEEP DRILLING SHALLOW DRILLING MINE DEVELOPMENT INFILL DRILLING

    PRELIMINARY DRILLING
    DEFINES IN-SITU COAL CONDITION (IN FRESH CONDITION) REQUIRED FOR ROUGH GENERAL COAL STRATIGRAPHIC PROVIDES TARGETS FOR NEXT EXPLORATION PROGRAM PROSPECT AREA

    DEEP DRILLING
    DEFINES LIFE-OF-MINE RESOURCES REQUIRED FOR LONG-TERM PLANNING PROVIDES TARGETS FOR POTENTIAL PITS INFERRED RESOURCES

    SHALLOW DRILLING
    DEFINES 10-YEAR RESOURCES IDENTIFIES COAL CHARACTERISTICS FOR PRIORITIZING PITS INITIAL OUTLINE OF SUBCROP LIMITS INDICATED RESOURCES

    INFILL DRILLING
    DEFINES CONCEPTUAL PIT DESIGN FINALISE SUBCROP LIMITS MEASURED RESOURCES FOR 5-YEAR BUDGETS

    ISSUES WITH THE MOST CURRENT EXPLORATION STRATEGY GENERAL GEOLOGY MODEL PRIORITY OF EXPLORATION AREA STAGE EXPLORATION PROGRAM QUALITY OF DATA DRILLING PROGRAM COAL QUALITY PROBLEM

    GENERAL GEOLOGY MODEL (GENERAL INFORMATION) GENERAL STRATIGRAPHIC OF COAL BEARING FORMATION LACK OF DATA (FIELD SECTION DATA) LACK OF COAL QUALITY DATA UN-CORRECT GEOLOGY MODEL INTERPRETATION

    PRIORITY OF EXPLORATION AREA

    STAGE OF EXPLORATION PROGRAM KEY WORD : QUANTITY (BULK), QUALITY, COAL LOGISTIC TRANSPORTATION

    STAGE OF EXPLORATION (GENERAL INFORMATION) KEY WORD: PRELIMINARY, REGIONAL, SEMI-DETAIL, DETAIL, DEVELOPMENT TARGET OF EACH EXPLORATION STAGE EQUIPMENT AND MAN POWER

    QUALITY OF DRILLING DATA MAJOR ISSUES


    CORE RECOVERY
    BOREHOLES HAVE LESS THAN 90% RECOVERY OF COAL SEAM DUE TO CORE DRILLING METHOD NO GEOPHYSICAL LOGS CONSIDER CHANGING BACK TO HQ CORE

    CONSEQUENCES
    UNDER-ESTIMATING RESOURCES AND ECONOMICS INCORRECT COAL QUALITY ESTIMATION

    QUALITY OF DRILLING DATA MAJOR ISSUES


    COAL QUALITY
    UNRELIABLE RESULTS DUE TO SAMPLING PROCEDURES CURRENTLY ESTIMATED AFTER MINING

    CONSEQUENCES
    OVER-ESTIMATING CALORIFIC VALUE OF COAL INCORRECT COAL DENSITY ESTIMATION AND INSITU TONNAGE

    QUALITY OF DATA MINOR ISSUES


    LOGGING IN SPLITS
    MORE ACCURATE SEAM DEPTH AND THICKNESS INFORMATION

    CORE PHOTOGRAPHY
    PERMANENT RECORD OF CORE FOR FUTURE REFERENCE

    JORC DRILLING PROGRAM


    MUST BE PLANNED CAREFULLY
    EXPENSIVE AND CRUCIAL

    REQUIRED TO DELINEATE
    INTERBURDEN VARIATIONS BETWEEN SEAMS CHANGES IN SEAM DIP QUALITY CONTENT IN MORE DETAIL

    QUALITY PROBLEM
    HIGHLY UNPREDICTABLE
    NO CORRECT PATTERN NOT A COMMON PROBLEM NOT UNDERSTOOD

    SUGGESTIONS
    CORRECT STANDARD PROCEDURE IN SAMPLING TRAINED WELL SITE MONITORING OF DRILLING ACTIVITY REPUTABLE LABORATORIUM

    THEREFORE

    PRIORITY OF EXPLORATION AREA


    CATEGORIES MASAHA 2 SEAM WITH GENTLE DIPPING 5800 6200 CLOSE 7KM. 2 JANGKANG 2 SEAM WITH GENTLE DIPPING 5200 5600 VERY CLOSE 1 GUNUNG MAS 1 SEAM WITH FLATT DIPPING 4800 5700 30KM 3

    QUANTITY QUALITY TRANSPORTATION PRIORITY

    EXPLORATION PROGRAM FOR LONG-TERM PLANNING


    REQUIRE TO DELINEATE POTENTIAL MINING AREAS ON-GOING ANNUAL PROGRAM PARALLEL TO OTHER EXPLORATION PROGRAM INCLUDES DETAIL TOPOGRAPHY SURVEY

    EXPLORATION PROGRAM FOR LONG-TERM PLANNING


    400m X 400m DRILL PATTERN DEEP HOLES SURVEY 1:1000 SCALE COSTS APPROX $?????? ANNUALLY ACQUIRE SIROLOG LOGGING TOOL APPROX. $????? (will save $????? in 1 year)

    STRATEGY FOR COMPILING JORC REPORT


    FREQUENCY OF REPORTING EVERY 2 YEARS CONSIDER DRILLING PROGRESS TOO MUCH DATA TO BIG A TASK 1ST REPORT 2ND REPORT 3RD REPORT

    STRATEGY FOR COMPILING JORC REPORT


    TRAIN ALL FIELD GEOLOGIST TRAIN STAFF IN JORC REQUIREMENTS AND PROCESSES ENSURE FIELD PROCEDURES ARE COMPLIANT WITH JORC ENABLE UP-TO-DATE INTERNAL JORC REPORTING REGULARLY

    DRILLING PROGRAM FOR PRELIMINARY TARGET


    MASAHA JANGKANG GUNUNG MAS OTHER POTENTIAL AREA ON-GOING EXPLORATION

    MASAHA AND JANGKANG


    TWO SEAMS (1.5 TO 2.7 M WITH IB 26M TO 40M)
    REQUIRES OUTCROP DRILLING FOR QUALITY ANALYSIS 5 BORES CLOSE TO OUTCROP SHALLOW BORES GEOPHYSICAL LOGGING COAL ANALYSIS

    GUNUNG MAS
    ONE SEAM (1.5M WITH DIP <10DEG)
    REQUIRES DETAIL OUTCROP MAPPING REQUIRES GENERAL EVALUATION REQUIRES OUTCROP DRILLING (?) DRILLING FOR QUALITY ANALYSIS 5 BORES CLOSE TO OUTCROP SHALLOW BORES GEOPHYSICAL LOGGING COAL ANALYSIS

    DRILLING COSTS
    MASAHA DRILLING COSTS ANALYSIS E-LOGGING ADMINISTRATION TOTAL JANGKANG GUNUNG MAS TOTAL

    COST BASIS
    DEEP BORES SHALLOW BORES CORED SEAMS

    MASAHA

    JANGKANG

    GUNUNG MAS

    STRATEGY FOR COMPILING JORC REPORT


    TRAIN STAFF IN JORC REQUIREMENTS AND PROCESSES ENSURE FIELD PROCEDURES ARE COMPLIANT WITH JORC ENABLE UP-TO-DATE INTERNAL JORC REPORTING REGULARLY

    THANK YOU

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