Mineral resources

in #steemit • 8 years ago

Mineral deposits can be classified as:

Mineral resources that are potentially valuable, and for which reasonable prospects exist for eventual economic extraction.
Mineral reserves or Ore reserves that are valuable and legally and economically and technically feasible to extract
In common mining terminology [weasel words], an "ore deposit" by definition must have an 'ore reserve', and may or may not have additional 'resources'[citation needed].

Classification, because it is an economic function, is governed by statutes, regulations and industry best practice norms. There are several classification schemes worldwide, however the Canadian CIM classification (see NI 43-101), the Australasian Joint Ore Reserves Committee Code (JORC Code), the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC)[3] and the “chessboard” classification scheme of mineral deposits by H. G. Dill[4] are the general CRIRSCO_Figure_1.png

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8 years ago in #steemit by
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