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The style of mineralization or other factors could mean that Proved Mineral Reserves are not achievable in some deposits. Generally the conversion of Mineral Resources into Mineral Reserves requires the application of various Modifying Factors, including, but not restricted to: mining factors; mineral processing / ore dressing related factors;
Mineral Reserves fall under two sub-categories (Proved and Probable). Proved Reserves are derived from Measured Resources and imply a high degree of confidence in the Modifying Factors, whereas Probable Reserves are derived from Indicated Resources and imply a lower degree of confidence in the Modifying Factors. [2]
The JORC [5] Code was first published in 1989, with the guidelines published in 1990. ... The exact definitions of key terms like 'Modifying Factors', ...
The National Instrument 43-101 requires substantially more technical disclosure to the market than the equivalent JORC Code, because the JORC Code is primarily a code for reporting the status of a mineral resource, whereas NI 43-101 is a code of securities disclosure. This distinction is based on the derivation of the two codes: the JORC Code ...
Classification and management of natural resources such as minerals and petroleum are classified using differing schemes. [4] [5] In 1997, UNECE published the United Nations Framework Classification for Reserves and Resources of Solid Fuels and Mineral Commodities (UNFC-1997) as a unifying international system for classifying solid minerals and fuels. [6]
A proven mineral reserve is the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.
The Judicial Officers Recommendation Commission (JORC, Chinese: 司法人員推薦委員會) is a statutory body in Hong Kong responsible for advising and making recommendations to the Chief Executive on judicial appointments and related matters established after the Handover in accordance with the Judicial Officers Recommendation Commission Ordinance (Cap. 92). [1]
The ratio between in place and recoverable volumes is known as the recovery factor (RF), which is determined by a combination of subsurface geology and the technology applied to extraction. [13] When reporting oil & gas volumes , in order to avoid confusion, it should be clarified whether they are in place or recoverable volumes.