Definitions for "Mineral resources"
are classified as inferred, indicated, and measured. The definitions of the classifications are as used by the Canadian Institute of Mining, Metallurgy and Petroleum. Inferred to measured resources have increasing degrees of competence and in order to be a resource mineralized material mush have a reasonable expectation of potentially being mined profitably, although at the resource stage this is not supported by a feasibility study.
A mineral resource is a concentration of material, not necesarilly one that is economically viable to mine... more on: Mineral Resources
Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. An Inferred Mineral Resource has a lower level of confidence than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher level of confidence than an Inferred Mineral Resource but has a lower level of confidence than a Measured Mineral Resource. A Mineral Resource is a concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Financial Term