Mineral Resource Classification ? Review of Current Practices in NI Technical Reports

The introduction of the National Instrument (?NI?) 43-101 Standards of Disclosure for Mineral Projects has led to some very specific requirements to reporting a Mineral Resource estimate for mineral projects to the public. There are elements of the Mineral Resource estimate that are based on the qualified person (?QP?) completing the work to accepted industry practices and applying their relevant experience. There is no document that defines what is considered the accepted industry practices. There are guidelines provided by the Canadian Institute of Mining, Metallurgy and Petroleum (?CIM?) but, in general, the industry practices are dynamic and often different QPs will estimate the same mineral project in different ways. This sometime happens on exploration projects as they proceed from one study to the next. The focus of this paper is to provide a review of some of the current practices that are published in Technical Reports (Preliminary Assessment to Feasibility studies) with respect to classifying a Mineral Resource as Inferred, Indicated and Measured and the grade interpolation and modeling methods, data support (i.e. geological drill hole spacing) and validation methods employed.