CPR23 Oct 2012 09:47
I thought it would be a good idea to repost what the differences should be between the Mineral Resource and the Mineral Reserve in the upcoming CPR.......From SAMREC
A ‘Mineral Resource’ is a concentration or occurrence of material of
economic interest in or on the earth’s crust in such form, quality and
quantity that there are reasonable and realistic prospects for eventual
economic extraction. The location, quantity, grade, continuity and other
geological characteristics of a Mineral Resource are known, or estimated
from specific geological evidence, sampling and knowledge interpreted
from an appropriately constrained and portrayed geological model. Mineral
Resources are subdivided, and must be so reported, in order of increasing
confidence in respect of geoscientific evidence, into Inferred, Indicated or
Measured categories.
A deposit is a concentration (or occurrence) of material of possible economic
interest, in or on the earth’s crust, that may include mineralized material
that cannot be estimated with sufficient confidence to be classified in the Inferred category. Portions of a deposit that do not have reasonable and
realistic prospects for eventual economic extraction are not included in a
Mineral Resource.
A ‘Mineral Reserve’ is the economically mineable material derived from a
Measured or Indicated Mineral Resource or both. It includes diluting and
contaminating materials and allows for losses that are expected to occur
when the material is mined. Appropriate assessments to a minimum of a
Pre-Feasibility Study for a project and a Life of Mine Plan for an operation
must have been completed, including consideration of, and modification
by, realistically assumed mining, metallurgical, economic, marketing, legal,
environmental, social and governmental factors (the modifying factors).
Such modifying factors must be disclosed.
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