Mineral reserves or Ore reserves that are valuable and legally and economically and technically feasible to extract In common mining terminology [ weasel words ] , an "ore deposit" by definition must have an 'ore reserve', and may or may not have additional 'resources' [ citation needed ] .
Classification of Mineral Resources and Reserves Posted by: Staff @ Geology for Investors in Geology Basics , Mine Planning and Management In the early days of mining there were no standards for the reporting of mineral assets.
Mineral Reserves are those parts of Mineral Resources which, after the application of all mining factors, are the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socio-economic and government factors.
Mineral Resources and Mineral Reserve estimates are shown on a 100% basis for each mine. The Measured and Indicated Mineral Resources are inclusive of those Mineral Resources modified to produce the Mineral Reserves.
The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
Mineral Resource was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
Notes to the above mineral reserves and resources: Effective December 31, 2017. Assumed metal prices for estimated Mineral Reserves were $17.50 per ounce of silver and $1,250 per ounce of gold. Assumed metal prices for estimated Mineral Resources were $20.00 per ounce of silver, $1,400 per ounce of gold, $1.15 per pound Zinc and $1.00 per pound Lead.
Therefore coal reserves represent a small and changeable percentage of coal resources, changing based on the price of coal, the technology used to extract it, and other factors. Both resources and reserves are further subdivided into a number of categories.
Notes to the above mineral reserves and resources: Effective December 31, 2017. Assumed metal prices for estimated Mineral Reserves were $17.50 per ounce of silver and $1,250 per ounce of gold.
A proven mineral reserve is economically mineable part of the measured resource. Since a picture is worth 1000 words and this table summarizes resources and reserves. Projects rise up the Y axis as work improves geological knowledge and confidence and they move across the X axis with the addition of mining, metallurgical, economic, marketing, legal, environmental, social and governmental studies.
Mineral Resources and Mineral Reserves must use only the terms and definitions contained herein. Qualified Person Mineral Resource and Mineral Reserve estimates and resulting Technical Reports must be prepared by or under the direction of, and dated and signed by, a Qualified Person.
Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Mineral Resources are reported at a 0.004 oz/ton (0.137 g/t) AuEq cut-off in consideration of potential open-pit mining and heap-leach processing.
Feb 01, 2018· The ore reserve and mineral resource estimates have been prepared in accordance with the classification criteria of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia , as …
PAGE ASSORE3 MINERAL RESOURCES AND RESERVES REPORT 2014 An “Inferred Mineral Resource” is that part of a Mineral Resource for which volume or tonnage, grade and mineral content can be estimated with only a low level of confidence.
All resource and reserve estimates reported by McEwen Mining Inc. are calculated in accordance with 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission.
Mineral resources that are not mineral reserves have no demonstrated economic viability. About mineral reserves Mineral reserves are the economically mineable part of measured and/or indicated mineral resources demonstrated by at least a preliminary feasibility study.
Principles of a Resource/Reserve Classification for Minerals By the U.S. BUREAU OF MINES and the U.S. GEOLOGICAL SURVEY INTRODUCTION Through the years, geologists, mining engineers, and others operating in the minerals field have
The Company’s Mineral Reserves and Mineral Resource as at December 31, 2017 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum’s “CIM Standards on Mineral Resources and Reserves, Definition and Guidelines” as per Canadian Securities Administrator’s NI 43-101 requirements.
Click to Download PDF of Reserves and Resources Summary. Summary of Mineral Reserve and Mineral Resource Estimates On February 20, 2018, the Company reported consolidated Mineral Reserve and Mineral Resource estimates for its mines and development projects as at December 31, 2017 (excluding Peak Mines).
Mineral resources are defined as natural concentrations of minerals or, in the case of aggregates, bodies of rock that are, or may become, of potential economic interest due to their inherent properties (for example the high crushing strength of a rock or its suitability for use as an aggregate). The mineral will also be present in sufficient quantity to make it of intrinsic economic interest.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Mineral Resources are reported at a 0.004 oz/ton (0.137 g/t) AuEq cut-off in consideration of potential open-pit mining and heap-leach processing.
Iluka reports its Ore Reserves and Mineral Resources in accordance with the JORC Code (2012 Edition). The following table provides a summary of Iluka’s Ore Reserves and Mineral Resources as …
Reserves and resources statement. As at 31 December 2017. We report mineral reserves and resources estimates in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities, in line with the mineral reporting standards applicable to our majority shareholder.
Until mineral resources and ore reserves are mined and processed, the tonnes and grades in mineral resources and ore reserves must be considered as estimates only. Mineral resources and ore reserves vary with changing metal prices, operating costs and other modifying factors, and are therefore dynamic.
Malaysia-Selinsing Gold Mine Current Resources & Reserves - December 2016 The Company filed a report titled “NI 43-101 Technical Report - Selinsing Gold Mine and Buffalo Reef Project” (the 2016 PFS”) at sedar and prepared by Snowden Mining Industry Consultants Pty Ltd (“Snowden”) December 14, 2016.
Mineral Resources. Total Mineral Resources for the Savannah Project, as reported by the Company on 24 August 2016, comprise 226,400t Ni, 104,700t Cu and 15,300t Co metal contained (Table 1) (refer to the Company’s ASX announcement of 24 August 2016).). Mineral Resources are inclusive of Ore Reserves.
Mineral Resources and Ore Reserves underpin the enterprise value of a company and provide a basis for life of mine and annual budgets. Mineral Resources can be defined as the concentration of material of economic interest in or on the earth’s crust, whereas Ore Reserves are the parts of a Mineral Resource that can at present be economically mined.
MINERAL RESERVES, RESOURCES, RESOURCE POTENTIAL, AND CERTAINTY D EFINITIONS OF MINERAL RESERVES, resources, resource potential, and certainty of assessment have been adopted by the Geological
The USGS Mineral Resources Program delivers unbiased science and information to understand mineral resource potential, production, consumption, and how minerals interact with the environment.
Notes on Mineral Resource and Mineral Reserve Table. Mineral Resources and Mineral Reserve estimates are shown on a 100 percent basis for each mine.
RESOURCE/RESERVE REPORTING STANDARDS FOR MINERALS ... ¾1994 - First meeting of “Mineral Resources and Reserves International Definitions Working Group” (CMMI Group, now CRIRSCO) ¾1997/98 – CRIRSCO agreement, and CRIRSCO/United Nations Economic ... Current Mineral Resource/Reserve Reporting Standards.
exclusive of reserves. (4) Mineral resources are based on $1350 gold, $21 silver, $0.95 lead, $1.10 zinc and $3.00 copper, unless otherwise stated. (5) Measured and indicated resources from Gold Hunter and Lucky Friday vein systems are diluted and factored for expected mining r ecovery.
As of January 1, 2017, the demonstrated reserve base (DRB) was estimated to contain 476 billion short tons. In the United States, coal resources are larger than remaining natural gas and oil resources, based on total British thermal units (Btus).