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The JORC [5] Code was first published in 1989, with the guidelines published in 1990. During the 1990s, it became clear that the evaluation of mineral deposits should be based on an internationally recognised code of reporting in order to improve the security of investments in this economic sector (e.g. Bre-X case).
There are several classification systems for the economic evaluation of mineral deposits worldwide. The most commonly used schemes base on the International Reporting Template, [1] developed by the CRIRSCO – Committee for Mineral Reserves International Reporting Standards, like the Australian Joint Ore Reserves Committee – JORC Code 2012, [2] the Pan-European Reserves & Resources Reporting ...
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 ...
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Mineral resource estimation is used to determine and define the ore tonnage and grade of a geological deposit, from the developed block model.There are different estimation methods used for different scenarios dependent upon the ore boundaries, geological deposit geometry, grade variability and the amount of time and money available.
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