54 - Applications of Conditional Simulation - PART 1

In this episode of Fresh Thinking by Snowden Optiro, join Executive Consultant Ian Glacken and Principal Geostatistician Dr. Oscar Rondon as they explore the applications of Conditional Simulation in a two-part series. This is the first episode. This podcast at a glance: 0:30 Ian starts the podcast, introducing the topic and explaining what Conditional Simulation means briefly.  1:35 Oscar talks about the concept of simulation, specifically focusing on the idea of the space of uncertainty. 03:22 Ian moves on to discuss applications of simulation, emphasizing the importance of the group of realizations. 03:50 Oscar covers various things people might explore in the realm of applications. 04:30 Oscar explains the types of statistics that can be performed with the suite of realisations. 05:00 Oscar goes deeper, explaining what a transfer function is. 06:00 Ian provides examples of the most common applications of simulations. 06:20 Oscar and Ian talk about the difference between simulation and estimation. 08:20 Ian shifts to simulating geological uncertainty. 09:05 Oscar explains how to approach simulating both geological and grade uncertainty. 10:20 Ian introduces resource classification as one application involving multiple simulations and realisations. 11:30 Ian explains the difference between classifications in the JORC code and those used in simulations. Join our experts as they explore the PART 1 of applications of Conditional Simulation in episode 54 of the Fresh Thinking podcast. If you'd like to connect with Ian and Oscar, please reach out to them at [email protected].