Possible reserves:
ore in place for which quantitative estimates are based largely on broad knowledge
of the geological character of the area and for which there are few, if any,
samples or measurements.
Ore Reserves
The prime measured assets
of a mine as to tonnage and grade that can be
extracted at a profit at current prices and technology, or in the near future.
Ore reserves may be classified as proven, probable or possible. Other reserve
terms, which do not necessarily constitute the definition of ore,
include geological, in-situ, measured and mineable.
Proven reserves: ore
in place for which the tonnage, grade and shape have been computed from dimensions
revealed in outcrops, trenches, underground workings or drill holes. The grade
is then calculated from results of adequate sampling
to a high degree of confidence.
Probable reserves:
ore in place for which tonnage and grade are calculated partly from specific
measurements, samples or production data and
partly from projection for a reasonable distance on geological evidence and
for which the sites available for inspection, measurement and sampling are too
widely or otherwise inappropriately spaced to outline the orebody
completely or establish its grade throughout.
Geological reserves:
reserves of all types; proven, probable and possible. In-situ
reserves : mineralization that is still in the ground. It may or may not
be economically recoverable.
Measured reserves:
usually proven and possible reserves.
Mineable reserves:
usually proven and probable reserves that may be extracted
by mining, taking into account the mining method and the amount of waste
dilution.