My point being NAGs is no where near qualifying as a Reserve or...

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JetBlue

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12/03/23

14:32

Post #: 66721138
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Originally posted by JetBlue: ↑

Terminology in mining is important and it is standardised so that definitions are specific and can only be classified by competent persons, so as to avoid confusion & protect Investors from the unscrupulous claims of 'pretenders'.

This is an extract from "Geology for Investors" ... Quote:
......
Over the past two decades work has been done to harmonize an internationally accepted standard for mineral asset reporting.

In 1994 theCommittee for Mineral Reserves International Reporting Standards (CRIRSCO)was formed. The committee is a grouping of representatives of organizations that are responsible for developing mineral reporting codes and guidelines in most parts of the world (Australia, Asia, Canada, Chile, Europe, South Africa and the USA).

Thereporting standardsimplemented by CRIRSCO require that report estimates be carried out by a “Competent Person”, also referred to as a “Qualified Person”.

This person must be an accredited professional with at least five years experience in the activity, commodity and situation being reported on. This is generally a geologist or engineer with significant experience in mineral exploration, mineral project assessment or mine development.
The terminology used to define mineral assets is divided into 2 major groups: Resources and Reserves.
Figure 1. Resources and Reserves: The relationships between the five groups of mineral asset reporting.

Source: https://www.geologyforinvestors.com/classification-of-mineral-resources-and-reserves/

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My point being NAGs is no where near qualifying as a Reserve or Resource, after only 10 DHs with Assays back.

Having said that the results after 10 DHs is very encouraging, with 18 Mineable Intersections and average grades of AuEq being over 5x the MCOG.

We couldn't ask for much more re the grades but what we could ask for is a lot more Assayed DHs & a much faster turn around from when the DHs are completed & the Assays are done & Announced.

The number of DHs will obviously help to define the extent & magnitude of the mineralisation. There is no substitute for the number of DHs so I hope NAG can up the anti with throughput & reporting of DHs, because that will move us closer towards the being classified as a Resources or later as a Reserve.

By a competent person I might add rather than by wantabe posters on an Internet Forum that don't even know in some cases, that the terminology is regulated.

NAG Price at posting: 5.5¢ Sentiment: Buy Disclosure: Held
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