Abstract:
The feasibility and pronouncement to invest in the mining industry comes with all forms of challenges that will have to be managed with care. Chiefly because, it involves huge capital disbursement and the associated risks are very high.
The valuation process of the commercial viability of the ore deposit consists of two major components; the estimation of the quantity (including quality) of the commodity and the decision as to whether or not to mine (or invest).
This study estimated the tin ore reserve using triangulation method. These involved the valuation of the avenge grade, tonnage, areal extends of the deposit, the stratigraphic column characteristic of the deposit and the approval based on the exploration work done by the company.
The decision to do detailed exploration or to abandon the mine was made with the help of the estimated ore reserve parameters, taking into consideration the prevailing cut-off grade for cassiterite.
The results indicate that, the average grade is 0.033% cassiterite which is below the cut-off grade of 0.5% cassiterite, therefore it's recommended that the company do detailed exploration and if the exploration results is still no sustainable, the mine is to be abandoned.
