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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (7590)	2/7/2003 5:03:39 PM
From: Bruce Robbins	Read Replies (1) \| Respond to of 39344

William, Here are the official Canadian documents covering the subject of resources and reserves: cim.org cim.org And here is a link to the JORC which is used outside of Canada: jorc.org From the CIM Guidelines: Probable Mineral Reserve A ‘Probable Mineral Reserve’ is the economically mineable part of an Indicated, and in some circumstances a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. Proven Mineral Reserve A ‘Proven Mineral Reserve’ is the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified. Application of the Proven Mineral reserve category implies that the Qualified Person has the highest degree of confidence in the estimate with the consequent expectation in the minds of the readers of the report. The term should be restricted to that part of the deposit where production planning is taking place and for which any variation in the estimate would not significantly affect potential economic viability. In essence: 1) an adequate amount of drilling needs to be done so that the ore zone can be predicted (in between drill holes) with a high degree of confidence. 2) a pre-feasibility study must be completed. This study examines the mining, processing, metallurgical, economic, and other relevant factors (e.g. environment, land reclamation) pertaining to the orebody. It determines whether the extraction of the orebody would be economic or not. Let me know if you need more info. Bruce