Poor sampling, compounded by poor laboratory subsampling, leads to questionable geostatistics, and generates severe conciliation problems between the geological model, the mine, and the plant estimates. These problems also affect the price of commodities and the validity of environmental assessments. The result is a huge money loss for the company involved, evolving later in likely litigation. It is of key importance for geologists, miners, metallurgists, chemists, and environmental specialists to extract maximum information from the available data, as large investments and crucial decisions depend on it.
The course offers simple ways to quantify money losses for a given sampling precision, and it provides a good strategy to prevent catastrophic sampling inaccuracy for which there is no statistical cure. Unless sampling precision and accuracy are clearly connected to economic issues, it is unlikely that any manager would understand the reason for improving sampling protocols and the way they are implemented. At the end of the course, the attendee will be better equipped to present the economic advantages of good sampling to company executives. Therefore, the course is pre-requisite for bank investment: Bankers must listen, and trust the Sampling Theory.
This course is offered as part of the Statewide Extended Studies Program of the Colorado Commission on Higher Education. The Colorado School of Mines will award 2.6 Continuing Education Units (CEUs) upon successful completion of this course.