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...