The purpose of a Minerals Resource Assessment is to estimate the relative mineral potential of an area before making commercial decisions, negotiating sale or purchase of minerals bearing land or preparing a Minerals Valuation.
Mineral Resource Assessments evaluate the potential of an area to host mineral deposits and are based on the compilation of the best available geological data.
Assessments can be done on regional and local scales and are generally carried out for the purposes of extending existing quarries and sand and gravel pits.
Banks often request assessments as part of the purchase of existing working quarries and pits in order to ensure continuity of minerals supply from that particular operation – and endorse the capital value of the asset.
We can also arrange trial pitting and exploratory drilling and sampling as part of the assessment.