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Mineral Resources are further sub-divided, in order of increasing geological confidence, into inferred, indicated and measured as categories. Inferred Mineral Resource is the part of a mineral resource for which quantity, grade (or quality) and mineral content can be estimated with a low level of confidence. It is inferred from geological ...
In 1997, the participating countries of CRIRSCO [6] - Australia, Canada, South Africa, USA and the UK reached an agreement on these definitions and presented a document defining the two main categories, Mineral Resources and Mineral Reserves, and their associated subcategories (Measured, Indicated and Inferred Mineral Resources and Proved and ...
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 ...
Diagram as published by McKelvey in 1973 [1] Diagram as published by McKelvey in 1976 [2]. A McKelvey diagram or McKelvey box is a visual representation used to describe a natural resource such as a mineral or fossil fuel, based on the geologic certainty of its presence and its economic potential for recovery.
Quantity, grade, or metal or mineral content of a deposit that has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral reserve or a proven mineral reserve; Results of an economic analysis that includes inferred mineral resources
Sustainability of a culture (human system) within its resources and environment; Sustainability of a specific stream of benefits or productivity (usually just an economic measure); and; Sustainability of a particular institution or project without additional assistance (institutionalization of an input).
If Ĵ is a reasonable approximation to J, then the quality of inference on J can in turn be inferred. As an example, assume we are interested in the average (or mean) height of people worldwide. We cannot measure all the people in the global population, so instead, we sample only a tiny part of it, and measure that.
Proven reserves (also called measured reserves, 1P, and reserves) is a measure of fossil fuel energy reserves, such as oil and gas reserves and coal reserves. It is defined as the "quantity of energy sources estimated with reasonable certainty, from the analysis of geologic and engineering data, to be recoverable from well established or known ...