The Gold Report: Andrew, you do a lot of work vetting deposits. You have worked on epithermal gold, copper-gold porphyries, iron and coal deposits—just to name a few. We're here today to help retail investors gain a better understanding of NI-43-101-compliant resources and deposit grades. Let's start with resource classifications
Andrew Richmond: The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) defines an "Inferred mineral resource" as that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence, limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through techniques from locations such as outcrops, trenches, pits, workings and drill holes.
An "Indicated mineral resource" is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations that are spaced closely enough for geological and grade continuity to be reasonably assumed.
A "Measured mineral resource" is that part of a mineral resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations that are spaced closely enough to confirm both geological and grade continuity.
To read the remainder of this interview is worth the effort for anyone who wishes to understand Grade, Width and JORC measurements.... The Gold Report has some very worthwhile interviews if one is truly a Gold Investor.
:) Fish
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