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A Probable Mineral Reserve has a lower level of confidence than a Proved Mineral Reserve but is of sufficient quality to serve as the basis for decision on the development of deposit. A Proved Mineral Reserve is the economically mineable part of a Measured Mineral Resource. It includes diluting materials and allowances for losses which occur ...
The terminology used may vary somewhat, [6] [7] but resources in a McKelvey diagram fall into three main areas: [8] Reserves, which are already discovered and commercially-viable mineral deposits, [8] [1] Contingent [8] or conditional [1] resources, whose existence is known but which are not commercially viable at present,
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]
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 ...
A Mineral Reserve is the economically mineable part of a Measured or Indicated 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 can ...
Resource estimates are undiscovered volumes, or volumes that have not yet been drilled and flowed to surface. A non-reserve resource, by definition, does not have to be technically or commercially recoverable and can be represented by a single, or an aggregate of multiple potential accumulations, e.g. an estimated geological basin resource. [14]
Silver Bay's taconite ponds, 2010. United States of America v. Reserve Mining Company, 408 F. Supp. 1212 (D. Minn. 1976), was a United States District Court for the District of Minnesota case that determined the Reserve Mining Company was responsible for amphibole asbestos fibers found in the public drinking water of Duluth, Minnesota and other North Shore (Minnesota) communities.
Schematic unconventional reservoir classification expressed as fluid energy vs flow potential based on initials without stimulation. Unconventional (oil and gas) reservoirs, or unconventional resources (resource plays) are accumulations where oil and gas phases are tightly bound to the rock fabric by strong capillary forces, requiring specialized measures for evaluation and extraction.