What does a mineral reserve refer to?

What does a mineral reserve refer to?

A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource. Boliden reports Mineral Reserves exclusive of Mineral Resources to avoid double counting. This means that quantities converted to Mineral Reserve are removed from Mineral Resource.

What makes a mineral deposit worth mining?

An “ore deposit” is a mineral deposit which has high enough grades of metal that makes it economic to mine. Rock worth mining is called ore. While natural processes lead to local concentration of metal minerals, metals are distributed throughout the earth, even in seawater and organisms, including our own bodies.

What are mineral resources and mineral reserves?

Mineral Resources can be defined as the concentration of material of economic interest in or on the earth’s crust, whereas Ore Reserves are the parts of a Mineral Resource that can at present be economically mined.

What are known mineral deposits?

Mineral deposits are naturally occurring accumulations or concentrations of metals or minerals of sufficient size and concentration that might, under favourable circumstances, have economic value. Economic concentrations of metals or other mineral commodities are known as ore.

What is the definition of a mineral reserve?

The term “Mineral Reserve” refers to the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a preliminary feasibility study.

What makes an ore deposit a mineral deposit?

A “mineral deposit” is a mineral occurrence of sufficient size and grade that it might, under the most favorable of circumstances, be considered to have economic potential. An “ore deposit” is a mineral deposit that has been tested and is known to be of sufficient size, grade, and accessibility to be producible to yield a profit.

What does the term inferred mineral resource mean?

The term “Inferred Mineral Resource” refers to that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity.

Which is the best definition of a reserve?

The confidence level of a resource/reserve economic feasibility increases from the left to the right while the knowledge of geological existence increases from top to bottom. Ore reserves are resources known to be economically feasible for extraction. Reserves are either probable or proven reserves.

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