Assay – To analyze the proportions of metals in an ore; to test an ore or mineral for composition, purity, weight, or other properties of commercial interest.
By–product – A secondary metal or mineral product recovered in the milling process such as copper and silver.
Concentrate – A very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated.
Contained ounces – Represents ounces in the ground before reduction of ounces not able to be recovered by the applicable metallurgical process.
Core Drilling –The process of obtaining cylindrical rock samples by means of annular-shaped rock-cutting bits rotated by a borehole-drilling machine.
Core sample –A cylinder sample generally 1-5" in diameter drilled out of an area to determine the geologic and chemical analysis of the overburden and coal.
Crushing and grinding –The process by which ore is broken into small pieces to prepare it for further processing.
Diamond drill –A rotary type of rock drill that cuts a core of rock that is recovered in long cylindrical sections, two cm or more in diameter.
Dilution –The effect of waste or low-grade ore being included unavoidably in the mined ore, lowering the recovered grade.
Exploration –Prospecting, sampling, mapping, diamond-drilling and other work involved in searching for ore.
Flotation –A process by which some mineral particles are induced to become attached to bubbles and float, and other particles to sink, so that the valuable minerals are concentrated and separated from the uneconomic or valueless gangue or waste.
Grade –The amount of metal in each ton of ore, expressed as troy ounces per ton or grams per tonne for precious metals and as a percentage for most other metals.
Cut-off grade: the minimum metal grade at which an orebody can be economically mined (used in the calculation of ore reserves).
Mill-head grade: metal content of mined ore going into a mill for processing.
Recovered grade: actual metal content of ore determined after processing.
Reserve grade: estimated metal content of an orebody, based on reserve calculations.
Heap leaching –A process whereby gold is extracted by “heaping” broken ore on sloping impermeable pads and continually applying to the heaps a weak cyanide solution which dissolves the contained gold. The gold-laden solution is then collected for gold recovery.
Mill –A plant where ore is ground fine and undergoes physical or chemical treatment to extract the valuable metals.
Mineral Reserves & Resources
Standard –Proven and Probable Mineral Reserves and Measured, Indicated and Inferred Mineral Resources have been estimated in accordance with the definitions of these terms adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") in November 2005 and incorporated in National Instrument 43-101, "Standards of Disclosure for Mineral Projects" ("NI 43-101"), by Canadian securities regulatory authorities. Estimates of coal reserves and resources have been prepared and classified using guidance from the Geological Survey of Canada Paper 88-21. Classification terminology for coal conforms to CIM definitions incorporated into NI 43-101. Mineral Resources are reported separately from and do not include that portion of the Mineral Resources that is classified as Mineral Reserves. That portion of Mineral Resource which is not classified as Mineral Reserve does not have demonstrated economic value.
Definitions – The CIM Definition standards on Mineral Resources and Mineral Reserves provide as follows:
A Mineral Resource is a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals 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.
An Inferred Mineral Resource is 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. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.
An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.
A Measured Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.
A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined.
A Probable Mineral Reserve is the economically mineable part of an Indicated and, in some circumstances, a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.
A Proven Mineral Reserve is the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.
Mineralized material – Mineralized material is the projection of mineralization in rock based on geological evidence and assumed continuity. It may or may not be supported by sampling but is supported by geological, geochemical, geophysical or other data. This material may or may not have economically recoverable mineralization.
Minable reserves – Ore reserves that are known to be extractable using a given mining plan.
Open pit – A mine where the minerals are mined entirely from the surface.
Ore – Rock, generally containing metallic and non-metallic minerals that can be mined and processed at a profit.
Orebody – A sufficiently large amount of ore that can be mined economically.
Ounces – Troy ounces of a fineness of 999.9 parts per 1,000 parts.
Oxide ore – Mineralized rock in which some of the original minerals have been oxidized. Oxidation tends to make the ore more amenable to cyanide solutions so that minute particles of gold will be readily dissolved.
Recovery - A term used in process metallurgy to indicate the proportion of valuable material obtained in the processing of an ore. It is generally stated as a percentage of valuable metal in the ore that is recovered compared to the total valuable metal present in the ore.
Refining - The final stage of metal production in which impurities are removed from the molten metal.
Shaft - A vertical passageway to an underground mine for ventilation, moving personnel, equipment, supplies and material including ore and waste rock.
Stockpile - Broken ore heaped on surface or prepared areas underground, pending treatment or shipment.
Vein - A fissure, fault or crack in a rock filled by minerals that have traveled upwards from some deep source.
Visible gold - Native gold which is discernible, in a hand specimen, to the unaided eye
Frankfurt » Quoted in Euros
Resources Inc. and Guardians of Gold Inc. commences Exchange Offer for a Maximum of 20% of Silver Dragon Resources Inc.
Guardians of Gold (GGUO) Retains Investment Banker Covehill Consulting Inc. To Raise $3,500,000.
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