Ore Reserve definition

Ore Reserve means the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre‐feasibility or feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified. The reference point at which Ore Reserves are defined, usually the point where the ore is delivered to the processing plant, must be stated. It is important that, in all situations where the reference point is different, such as for a saleable product, a clarifying statement is included to ensure that the reader is fully informed as to what is being reported.

Ore Reserve means the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.

Ore Reserve means the volume of known ore zones that a mine has identified as being suitable for mining at some time in the future;

Examples of Ore Reserve in a sentence

• Miraflores Mineral Reserve Estimate, as at 27 November 2017 (100% basis)The Miraflores Project Ore Reserve estimate has been estimated by Ausenco in accordance with the JORC Code (2012 Edition) and first publicly reported on 18 October 2017 and updated on 27 November 2017.

• The project has an Ore Reserve of 48.2 million tonnes with high grade total alumina of 50.2% and reactive silica of 6.3%.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• No material change has occurred after that date that may affect the JORC Code (2012 Edition) Ore Reserve estimation.Source: Ausenco, 2017 Dosquebradas Inferred Mineral Resource Estimate, as at 25 February 2020 (100% basis) Notes:i) No more than 6m internal waste is included in the weighted intervalsii) Inferred Mineral Resources shown using various cut offs.iii) Based on gold selling price of US$1,470/oz.iv) Mineral Resource estimated by Resource Development Associates Inc.

• In the case of Mineral Resource estimates, Ore Reserve estimates, production targets and forecast financial information derived from the production targets, all material assumptions and technical parameters underpinning the estimates, production targets and forecast financial information derived from the production targets contained in the relevant market announcement continue to apply and have not materially changed.

• The Group estimates its Ore Reserve and Mineral Resource based on information compiled by appropriately qualified persons relating to the geological data on the size, depth and shape of the ore body, and requires complex geological judgments to interpret the data.

• One of the systems commonly adhered to in Western countries is the JORC Code (the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserve Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia), which was released in 1989 and last updated in 2012.

• Nambonga Mineral Resource (50%) Ore ReserveNo Ore Reserve has been estimated for the Nambonga deposit.

• It may be converted to a Proved Ore Reserve or under certain circumstances to a Probable Ore Reserve.

• This Ore Reserve statement has been compiled in accordance with the guidelines defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

More Definitions of Ore Reserve

Ore Reserve means is the economically mineable part of a Measured and/or Indicated Mineral Resource; it includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-Feasibility or feasibility level as appropriate that include application of Modifying Factors; such studies demonstrate that, at the time of reporting, extraction could reasonably be justified, as defined in accordance with the JORC Code.

Ore Reserve means the economically minable part of a measured or Indicated Mineral Resource as determined by the JORC Code;

Ore Reserve means, according to the JORC Code, the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined. Appropriate assessments and studies have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction could reasonably be justified. Ore Reserves are sub-divided in order of increasing confidence into Probable Ore Reserves and Proved Ore Reserves