A mineral resource is a concentration or occurrence of diamonds,
natural solid inorganic material, or natural solid fossilized
organic material including base and precious metals,
coal, and industrial minerals in or on the Earth’s crust in such
form and quantity and of such a grade or quality that it has
reasonable prospects for economic extraction. The location,
quantity, grade, geological characteristics and continuity of a
mineral resource are known, estimated or interpreted from
specific geological evidence and knowledge.Mineral resources
are sub-divided, in order of increasing geological confidence,
into inferred, indicated and measured categories.
An inferred mineral resource is that part of a mineral resource
for which quantity and grade or quality can be estimated on
the basis of geological evidence and limited sampling and reasonably
assumed, but not verified, geological and grade continuity.
The estimate is based on limited information and
sampling gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes.
An indicated mineral resource is that part of a mineral resource
for which quantity, grade and quality, densities, shape and
physical characteristics, can be estimated with a level of
confidence sufficient to allow the appropriate application of
technical and economic parameters, to support mine planning
and evaluation of the economic viability of the deposit. The
estimate is based on detailed and reliable exploration and testing
information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill
holes that are spaced closely enough for geological and grade
continuity to be reasonably assumed.
A measured mineral resource is that part of a mineral resource
for which quantity, grade or quality, densities, shape and physical
characteristics are so well established that they can be estimated
with confidence sufficient to allow the appropriate application of technical and economic parameters, to support
production planning and evaluation of the economic viability
of the deposit. The estimate is based on detailed and reliable
exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops,
trenches, pits, workings and drill holes that are spaced closely
enough to confirm both geological and grade continuity.
Mineral resources, which are not mineral reserves, do not have
demonstrated economic viability.
A mineral reserve is the economically mineable part of a
measured or indicated mineral resource demonstrated by at
least a preliminary feasibility study. This study must include
adequate information on mining, processing, metallurgical,
economic and other relevant factors that demonstrate, at the
time of reporting, that economic extraction can be justified.
A mineral reserve includes diluting materials and allowances
for losses that may occur when the material is mined.Mineral
reserves are sub-divided in order of increasing confidence into
probable mineral reserves and proven mineral reserves.
A probable mineral reserve is the economically mineable part of
an indicated and, in some circumstances, a measured mineral
resource demonstrated by a least a preliminary feasibility
study. This study must include adequate information on mining,
processing, metallurgical, economic and other relevant
factors that demonstrate, at the time of reporting, that economic
extraction can be justified.
A proven mineral reserve is the economically mineable part
of a measured mineral resource demonstrated by at least a preliminary
feasibility study. This study must include adequate
information on mining, processing, metallurgical, economic
and other relevant factors that demonstrate, at the time of
reporting, that economic extraction can be justified.
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