Terms and Standards used for Mineral Deposits Classification...

Terms and Standards used for Mineral Deposits Classification The terms and standards used for the classifications of mineral deposits are described below. Competence – It requires that the Public Report be based on work that is the responsibility of suitably qualified and experienced persons who are subject to an enforceable professional code of ethics (the Competent Person). Competent Person – A Competent Person is a mineral industry professional, defined as a corporate member, registrant or licensee of a recognized professional body (including mutually recognized international professional organizations) with enforceable disciplinary processes including the powers to suspend or expel a member. A competent person must have a minimum of five years relevant experience in the style of mineralization or type of deposit under consideration and in the activity which that person is undertaking. Recognized Professional Organizations (RPO) and classes of membership under the standard, which meet these requirements, are listed in the standards or on their websites. If the Competent Person is preparing documentation on Exploration Results, the relevant experience must be in exploration. If the Competent Person is estimating, or supervising the estimation of Mineral Resources, the relevant experience must be in estimation, assessment, and evaluation of Mineral Resources. If the Competent Person is estimating or supervising the estimation of Ore Reserves, the relevant experience must be in the estimation, assessment, evaluation and economic extraction of Ore Reserves. CRIRSCO – CRIRSCO provides an international forum that enables countries to ensure consistency of their reporting standards.  It is an international advisory body without legal authority and relies on its constituent members to ensure regulatory and disciplinary actions at a National level. It was formed in 1994 under the auspices of the Council of Mining and Metallurgical Institutes (CMMI). It was established as grouping of representatives...

United Nations Framework Classification of Mineral Reserves/Resources...

United Nations Framework Classification of Mineral Reserves/Resources United Nations Framework Classification (UNFC) of Mineral Reserves/Resources consists of a three dimensional system with the following three axes: Geological assessment, Feasibility assessment and Economic viability. The process of geological assessment is generally conducted in stages of increasing details (Fig 1) Fig 1 Classification of minerals The typical successive stages of geological investigation i.e. reconnaissance, prospecting, general exploration and detailed exploration, generate resource data with a clearly defined degrees of geological assurance. These four stages are therefore used as geological assessment categories in the classification. Feasibility assessment studies form an essential part of the process of assessing a mining prospect. The typical successive stages of feasibility assessment i.e. geological study as initial stage followed by prefeasibility study and feasibility study/mining report as well defined. The degree of economic viability (economic or sub economic) is assessed in the course of prefeasibility and feasibility studies. A prefeasibility study provides a preliminary assessment with a lower level of accuracy than that of a feasibility study, by which economic viability is assessed in detail. The various terms used in this classification and their definitions are as follows: Total Mineral Resource It is a concentration(or occurrence) of material of intrinsic economic interest. It has resonable prospects for eventual economic extraction. Its location, grade, quantity, geological chracteristic is known, estimated or interpreted from specific geological evidence and knowledge. Total mineral resource are of three types. Measured Mineral Resouce – Itm is that part of mineral resource for which tonnage, density, shape, physical characteristics, grade and mineral content can be estimatedwith a high level of confidence i.e. based on detailed exploration. Inducated Mineral Resource – In this category tonnage, densities, shape, physical characteristic, grade and mineal content can be estimated with reasonable level of...