PERC 2008 (Multi-Jurisdiction) - Pan-European Code for Reporting Of Exploration Results, Mineral Resources and Reserves – 2008

"In the UK, Ireland, and Western Europe, the mineral resource and reserve reporting standard is the PERC Code, developed and maintained by the Pan-European Reserves and Resources Reporting Committee, which is a standing committee set up under the auspices of a number of professional organisations which include the Institute of Materials, Minerals and Mining (loM3), the Geological Society of London (GSL), the European Federation of Geologists (EFG) and the Institute of Geologists of Ireland (IGI) to develop a Pan-European reporting code. The PERC Code supercedes the old IMMM Reporting Code 2001 and is recognised by the UK securities regulators and stock exchanges.""FOREWORD1 The Pan European Reserves and Resources Reporting Committee (PERC) Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (further referred to as 'the Code') sets out minimum standards, recommendations and guidelines for Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves in the United Kingdom, Ireland and Europe. The history of development of this code is summarised in Appendix 4.This 2008 edition supersedes all previous editions of The Reporting Code and the IMM Reporting Code.INTRODUCTION2 In this edition of the PERC Code, important terms and their definitions are highlighted in bold text. The guidelines are placed after the respective Code clauses using indented italics. They are intended to provide assistance and guidance to users in interpreting the application of the clauses in the Code. The same indented italics typeface formatting has been applied to Table 1, and to Appendices 1 and 2 which form part of the Guidelines.3 The Code has been adopted by the Institute of Materials, Minerals and Mining (loM3), the Geological Society of London (GSL), the European Federation of Geologists (EFG) and the Institute of Geologists of Ireland (IGI), and is therefore binding on their individual members.Appendix 1 contains a table of generic terms and their equivalents, designed to avoid unnecessary duplication or ambiguity in the textAppendix 2 provides Rules of Conduct for Mineral Resource and Mineral Reserve estimators that should be considered in addition to the Codes of Ethics normally applying to members of professional institutions."