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North America: Cameco: conditional simulation
Since 2011, SRK has worked with Cameco Corporation to quantify uncertainty in uranium grades for exploration and operation projects in Australia and Canada. This work involves geostatistical analysis for constructing conditional simulation models of grades. Often, these models are benchmarked against conventional resource models to determine the uncertainty distributions for pounds U3O8. Recently, SRK learned that Cameco is using the conditional simulation model at the Cigar Lake operation as the basis for both short-range and long-range production planning.
photo source: Cameco Corporation
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