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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Richard S. Gates who wrote (15644)	6/18/1999 10:10:00 AM
From: Mike Gold	Respond to of 25548

Here's a relevant topic: Reporting of Mineral Resources: Proven vs. Inferred-do you know the difference? For starters-try this link: ausimm.com.au It is an Adobe formatted report on the Australasian Code for Reporting of Mineral Resources and Ore Reserves(The JORC Code)It is 16 pages long and does a great job in describing the different geological resource terms as defined in Australia. I believe this Code is followed by a number of countries. I don't have the US/Canadian codes but I imagine it is similar. In particular-take a look at "Inferred Mineral Resource". "An 'Inferred Mineral Resource' is that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outrcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource. The category is intended to cover situations where a mineral concentration or occurrence has been identified and limited measurements and sampling completed, but where the data are insufficient to all the geological and/or grade continuity to be confidently interpreted. Due to the uncertainty which may attach to some Inferred Mineral Resources, it cannot be assumed that all or part of an Inferred Mineral Resource will be upgraded to and Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is usually not sufficient to allow the appropriate application of technical economic parameters or to enable an evaluation of economic viability. Caution should be exercised if this category is considered in economic studies." I suggest that those who are not familiar with these terms take a look at them. Cheers.