RE: Suspension21 Apr 2026 15:10
ASX and Aussies use Jorc resource
A JORC Mineral Resource Estimate is a standardized, code-compliant report defining the size and grade of a mineral deposit, crucial for valuing mining projects, particularly for ASX-listed companies. Governed by the Joint Ore Reserves Committee, it ensures transparency, materiality, and competence, classifying resources into Inferred, Indicated, or Measured categories.
Key Aspects of JORC Reporting:
Standards: Based on the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Categories: Resources are classified by geological confidence into Inferred (low), Indicated (medium), and Measured (high).
Competent Person (CP): The estimate must be prepared by a qualified, experienced professional.
"Reasonable Prospects": Requires evidence that the deposit has potential for eventual economic extraction.
Reporting Requirements: Public reports must include detailed Table 1, Section 1-3 information (sampling, drilling, estimation methods).
Purpose and Impact:
Investor Confidence: Provides a reliable basis for investment decisions by ensuring consistency and accountability.
Project Valuation: Essential for converting exploration prospects into economic feasibility studies.
Regulatory Compliance: Mandatory for announcements on the Australian Securities Exchange (ASX)