Definitions for "Mineral reserves"
are classified as probable and proven. The classifications are as set out by the Canadian Institute of Mining, Metallurgy and Petroleum. Mineral reserves are supported by an economic assessment and a feasibility study that demonstrate they can be mined profitably.
The economically mineable part of the measured and indicated mineral resources.... more on: Mineral Reserves
The parts of mineral resources which, after the application of all mining factors, result in an estimated tonnage and grade which, in the opinion of the Qualified Person(s) making the estimates, is the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socio-economic and government factors. Mineral Reserves are inclusive of diluting material that will be mined in conjunction with the Mineral Reserves and delivered to the treatment plant or equivalent facility. The term ‘Mineral Reserve’ need not necessarily signify that extraction facilities are in place or operative or that all governmental approvals have been received. It does signify that there are reasonable expectations of such approvals.