Mineral Resources Reporting

<p>Portions lacking reasonable prospects for extraction. (C)</p> Signup and view all the answers

<p>Low-grade minerals that reduce overall quality. (A)</p> Signup and view all the answers

<p>Assumptions must be disclosed if considered material. (C)</p> Signup and view all the answers

<p>Adequate size and continuity of mineralization. (A)</p> Signup and view all the answers

<p>Depending on the commodity or mineral involved. (A)</p> Signup and view all the answers

<p>10 to 15 years (B)</p> Signup and view all the answers

<p>Measured Mineral Resource (D)</p> Signup and view all the answers

<p>Low reliability with unverified continuity (B)</p> Signup and view all the answers

<p>Any adjustments made to the data (A)</p> Signup and view all the answers

<p>They are often upgraded to Indicated Mineral Resources (C)</p> Signup and view all the answers

<p>Indicated resources have a higher confidence level and closer spacing (B)</p> Signup and view all the answers

<p>They are based on detailed and reliable sampling data (A)</p> Signup and view all the answers

<p>Company reputation of the Competent Person (A)</p> Signup and view all the answers

<p>Coal inventory reports (B)</p> Signup and view all the answers

<p>Geological continuity can be confidently confirmed (A)</p> Signup and view all the answers

<p>They can be used directly for detailed planning (B)</p> Signup and view all the answers

<p>From limited data and geological evidence that is assumed (A)</p> Signup and view all the answers

<p>They use skilled judgment to determine resource categories (C)</p> Signup and view all the answers

<p>High confidence in the estimate (D)</p> Signup and view all the answers

<p>Caution should be exercised in using these estimates for planning. (C)</p> Signup and view all the answers

<p>Rounded off to appropriately significant figures (A)</p> Signup and view all the answers

<p>Probable Ore Reserves come from Indicated Mineral Resources while Proved Ore Reserves come from Measured Mineral Resources. (B)</p> Signup and view all the answers

<p>They imply detailed planning and technical feasibility. (C)</p> Signup and view all the answers

<p>Mining, metallurgical, economic, marketing, legal, environmental, social, and governmental factors (B)</p> Signup and view all the answers

<p>To clarify the reliability of the estimations. (B)</p> Signup and view all the answers

<p>Extraction has been demonstrated viable under reasonable financial assumptions. (D)</p> Signup and view all the answers

<p>Combining categories without proper details (B)</p> Signup and view all the answers

<p>By including estimated mineral processing recovery factors (C)</p> Signup and view all the answers

<p>They can vary significantly based on limited information. (B)</p> Signup and view all the answers

<p>They allocate the appropriate category of Ore Reserve based on confidence levels. (B)</p> Signup and view all the answers

<p>When dealing with Inferred Mineral Resources and uncertainty exists (A)</p> Signup and view all the answers

<p>They are responsible for assessing geological and grade continuity. (C)</p> Signup and view all the answers

<p>They provide the highest confidence in the resource estimation. (C)</p> Signup and view all the answers

<p>The economically mineable part of an Indicated or sometimes a Measured Mineral Resource. (D)</p> Signup and view all the answers

<p>The nature of the adjustment or modification (D)</p> Signup and view all the answers

<p>Err on the side of providing more information than necessary. (D)</p> Signup and view all the answers

<p>A sudden drop in commodity prices expected to recover (B)</p> Signup and view all the answers

<p>The material is included despite being borderline profitable. (C)</p> Signup and view all the answers

<p>Geological, grade continuity, and cutoff grades (A)</p> Signup and view all the answers

<p>Both must state that they mean the same as Ore Reserves as defined. (A)</p> Signup and view all the answers

<p>It may mislead investors or stakeholders. (D)</p> Signup and view all the answers

<p>Comprehensive individual item discussions (C)</p> Signup and view all the answers

<p>A mine plan that is both technically achievable and economically viable. (C)</p> Signup and view all the answers

<p>The rationale and specifics of adjustments must be clearly stated. (D)</p> Signup and view all the answers

<p>The type of deposit and the level of study carried out. (B)</p> Signup and view all the answers

<p>The uncertainties in the Modifying Factors (D)</p> Signup and view all the answers

<p>It indicates the highest degree of confidence in the estimate. (D)</p> Signup and view all the answers

<p>By rounding off to appropriately significant figures. (D)</p> Signup and view all the answers

<p>One or both of the categories of ‘Proved’ and ‘Probable’ must be specified. (B)</p> Signup and view all the answers

<p>A statement on whether Mineral Resources are inclusive of, or additional to, Ore Reserves. (A)</p> Signup and view all the answers

<p>Inferred Mineral Resources (A)</p> Signup and view all the answers

<p>Combining Proved and Probable figures without break down. (C)</p> Signup and view all the answers

<p>To discuss the relative accuracy and/or confidence. (A)</p> Signup and view all the answers

<p>A brief comment on their potential for conversion must be made. (B)</p> Signup and view all the answers

<p>Changes in economic or political factors. (B)</p> Signup and view all the answers

<p>Ore Reserves may incorporate dilution material not included in Mineral Resources. (B)</p> Signup and view all the answers

<p>The nature of the adjustment or modification. (A)</p> Signup and view all the answers

<p>The figures are approximate and properly rounded. (A)</p> Signup and view all the answers

A concentration of economically-interesting material in the Earth's crust, with reasonable prospects for future extraction.

Mineral resources are categorized as Inferred, Indicated, and Measured, based on geological confidence.

The possibility of profitably extracting a mineral resource.

Data and knowledge used to estimate a mineral resource's location, quantity, grade, etc.

A qualified individual assessing economic factors influencing resource extraction.

Considerations affecting the estimation of ore reserves from mineral resource, such as the economic viability to extract from it

The minimum quality of ore needed to make extraction worthwhile.

A judgment by the Competent Person considering if a Mineral Resource can likely be extracted profitably.

Part of a mineral resource estimated with low confidence, inferred from geological evidence.

Mineral resource estimated with reasonable confidence, based on exploration data; locations spaced close enough to assume continuity.

Mineral resource estimated with high confidence, based on detailed data confirming geological and grade continuity.

Resources estimated as economically extractable, from a confirmed mineral resource, based on technical and economic parameters.

Length of time it's possible that mining would be economically viable to extract materials.

Document containing data on mineral resource estimates, with clear explanations of all adjustments.

The consistent presence of a mineral deposit over a measured distance.

Characteristics of the information used to estimate mineral resources, including accuracy and reliability.

Measure of certainty in estimating the quantity and grade of mineral deposits.

Natural concentration of valuable minerals in the earth.

Data used in evaluating a mine's economical viability (cost, market, etc).

The consistency of mineral deposits in terms of patterns and concentrations of the mineral.

An interpretation of data estimating the amount of minerals present, not an exact calculation.

Reflect the accuracy of estimates, especially important for Inferred Resources, rounding to appropriate significant digits.

Rules and regulations requiring explicit reporting of Mineral Resource categories (Measured, Indicated, Inferred).

Mineral Resources are not allowed to be aggregated with Ore Reserves, avoid combining.

Discussion of how reliable mineral resource estimates in the report are.

Adjustments made to mineral resource estimates, such as reconciliation with production data.

Changes in economic viability reclassify reserves back to mineral resources.

Reporting of uncertainties that could affect the accuracy of resources estimation.

Results of exploration activities and investigations.

A category of Ore Reserve with the highest level of confidence, implying a high degree of certainty about its economic extraction.

A category of Ore Reserve with a high level of confidence but slightly less certainty than 'Proved', indicating a good probability of economic extraction.

The process of transforming Mineral Resources into Ore Reserves, based on economic and technical factors.

The public disclosure of Ore Reserve estimates, adhering to strict guidelines and transparency.

Comparing previous reports to current ones, explaining significant changes and differences in estimates.

The inherent uncertainty surrounding Ore Reserve calculations, influenced by various factors and limitations.

Combining Ore Reserves and Mineral Resources figures, providing a consolidated view.

A descriptive explanation of the potential limitations and uncertainties affecting Ore Reserve estimates.

External circumstances, such as market price fluctuations or changing regulations, influencing Ore Reserve estimations.

Updating Ore Reserve estimates based on actual production data, reflecting any deviations from initial projections.

A resource that can be extracted at a profit based on all relevant financial and technical factors.

This term varies depending on the deposit type, study level, and the company's financial criteria. It's not a fixed definition, but considers all factors realistically.

While some companies prefer to use 'Mineral Reserve,' JORC advocates for 'Ore Reserve' to maintain clarity between resource and reserve.

These terms are used for coal reporting, with 'Coal Resource' representing potential and 'Coal Reserve' representing economically mineable portions.

It's better to err on the side of providing more information for transparency and completeness when reporting Ore Reserves.

A Competent Person determines the category based on the level of confidence in the Mineral Resource and any uncertainties in Modifying Factors.

There's a direct relationship between Indicated Mineral Resources and Probable Ore Reserves, and between Measured Mineral Resources and Proved Ore Reserves.

While the main relationship is direct (Indicated to Probable, Measured to Proved), there are situations where Measured Mineral Resources can be converted to Probable Ore Reserves due to uncertainties in Modifying Factors.

It signifies that the extraction has been demonstrated to be viable under reasonable financial assumptions and that there are reasonable expectations of receiving the necessary approvals and contracts.

The most important factors to consider are the economic viability of the extraction process, the environmental impacts, and the social and legal implications. These factors can vary significantly from one project to another.