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By A. Mosqueda Martinez, L. C. Trytten, R. P. Kofluk, J. J. Budac

The Corefco ammonia leach nickel refinery treats Ni-Co mixed sulphides from the high-pressure acid leaching of Moa Bay nickel laterite. Due to the low iron content of the feed, the ammonia leach process generates a leach residue with ~10% Ni+Co. Since commissioning a leach residue pressure filtration circuit in 2002, this residue has been stockpiled, dried, and sold commercially. For several years, the residue was sold to nickel smelters overseas. In 2014, re-processing of the residue in the high-pressure acid leach was tested. Lab test work was completed showing excellent extraction of the contained nickel and cobalt, and additional beneficial effects in the high-pressure acid leach circuit. A plant test in Moa confirmed the results, and preparation for shipment of the valuable leach residue for re-processing has begun. This paper outlines the test work and results, and some commercial considerations.

Jan 1, 2015

By Adrian Dance

Newmont Ghana Gold Limited?s Ahafo operation have been working with Metso Process Technology & Innovation (PTI) since early 2009 to increase mill throughput from a combination of controlled blasting practices and optimised primary crusher and grinding circuit conditions. For such Mineto- Mill projects, PTI?s methodology is termed Process Integration & Optimisation (PIO). Ahafo operate a SAG mill, ball mill and pebble crusher (SABC) circuit that processes a range of primary ore of varying hardness from different pits which is blended with soft oxide material. The PTI study focussed on ball mill limited material from the Apensu open pit. Following a benchmarking study of all blasting, crushing and grinding practices in January 2009, PTI recommended changes in both blasting and crushing conditions in order to generate a finer feed size to the SAG mill. Additional operating changes in the grinding circuit were recommended. A series of trials were conducted in November 2009 where three blasts were fired using a different blast design (hole diameter and explosive type) in the same area of the Apensu pit as the benchmarked material in January 2009. Top and bottom benches (or flitches) from each blast were sent exclusively to the grinding circuit and the material was tracked using PTI?s SmartTag? system. The results from the six trials showed a significant increase in primary ore throughput at a reduced blend of oxide material. Ahafo have since standardised on these modified blasting conditions for all Apensu ore zones and have been able to sustain higher throughput compared to historical performance on similar material. This paper summarises the phases of the PIO project, the changes made in operating practices and the outcomes of the blasting trials that validated the predicted increase in mill throughput.

Jan 1, 2012

By Peter A. Cain, John C. Folinsbee

"A 4-ft.-diameter shaft has been drilled to a depth of 2,790 ft. in strong, hard, basic Precambrian rocks at Lynn Lake Manitoba. This was done on the property of Sherritt Gordon Mines Limited for the purpose of ventilating and developing the ""N"" orebody, which is located approximately 4,000 ft. south of the Farley shaft.The drilling was done under contract by two drilling companies. Peter Bawden Drilling (1964) Limited drilled the initial 12:1,4-in. pilot hole to a depth of 3,000 ft. Shaft Drillers Limited of Canada then reamed the hole to 4 ft. in diameter to a depth of 2,790 ft. At this point, the reaming was stopped because of the difficulty in passing a change in direction in the line of the pilot hole. The hole was completed by driving a raise 200 ft. from the 3000 level to the bottom of the 4-ft. hole using an Alimak raise climber.Cuttings from the reaming operation were directed into the 12:1,4-in. pilot hole, where they fell to the 3000 level and were removed by a mucking machine and standard mine development cars.The elapsed time from the start of the pilot hole to the completion of the reaming operation was ten months, with an average advance of 279ft. per month. There was a two-month delay between the completion of the pilot hole and the start of the reaming operation.The 12:1,4-in. hole was drilled in an elapsed time of 45 days from the time of setting up the rig. The average advance per day was 66.8 ft.The reaming operation was done in an elapsed time of 194 days. A one-month delay required to repair damaged equipment left 163 days for the drilling and setting-up operation, for an advance per day of 17.1 ft."

Jan 1, 1966

By P. D. R. Maltby

This paper describes the background and markets for calcium carbonate and silica sand in Canada, as well as the results of recent test work carried out at the Ontario Research Foundation. Tests on sericite, tremolite, vermiculite, barite and graphite are also mentioned.

Jan 1, 1979

By A. Mazhary

"Although sensor-based ore sorting has gained significant attention recently, sorting gold deposits still face a high level of skepticism by gold mining companies. In order to shed some light on the matter, this article looks at two different gold deposits that were examined using X-ray Fluorescence, Electromagnetic and X-ray Transmission sensors. The heterogeneity of each sample is measured based on the assay results of each particle and is related to its sortability. Multivariate linear regression analysis was also performed on the XRF results to find potential proxy elements for detecting gold. The results from these deposits were varied and each sample showed different levels of sortability. While both X-ray sensors proved efficient for different deposits, the electromagnetic sensor failed to produce any promising results. Despite unsatisfactory result for one sample, this technology can have significant advantages in terms of lowering the operational costs and improving head grades and recoveries providing that the deposit is amenable to such separation methods. Therefore, it is important to mention that sensor-based ore sorting is ore and sensor dependent, and as a result, it cannot be applied and be beneficial to all deposits. Therefore, amenability tests are required in order to examine the potential for sensor-based ore sorting before one can reject the idea.INTRODUCTION Although sensor-based ore sorting has gained significant attention recently, sorting gold deposits still face a high level of skepticism by gold mining companies. Except for a few cases presented previously, no new case studies have been published. Previously, mines such as Kloof Gold Mine in South Africa used an optical sorter to sort their waste stockpile in 2003–2004 (Von Ketelhodt, 2009) and then again in 2009 (Von Ketelhodt, Falcon, & Falcon, 2011). More recently, Coeur Operations utilized an XRT sorter for their Kensington Mine in Alaska (Lasley, 2014) and also Anglo-American Platinum used an XRF sorter to pre-concentrate Platinum Group Metals through an algorithm that used chrome, copper and nickel as proxies (Rule, Fouchee, & Swart, 2015)."

Jan 1, 2017

By W H. Poole, E. R. W. Neale

A new style of tectonic map based on age of folding has been prepared for the Canadian Appalachian region as part of the Tectonic Map of Canada Project. This style of map pro-vides a clearer picture of the tectonic history of the region than any meth-od hitherto attempted. Precambrian blocks that were relatively unaffected by Palaeozoic de-formation are distinguished on the Great Northern Peninsula and in the Conception Bay region of Newfound-land. K/ A age determinations suggest that these blocks were intruded and metamorphosed during Grenville orogeny. Other Grenville-like rocks, on Cape Breton Island and in New Brunswick, were more actively involved in subsequent Palaeozoic orogeny. Taconic orogeny, the first phase of Palaeozoic deformation, took place in Middle and/or Late Ordovician time and was accompanied by intrusion of ultrabasic rocks. Evidence of the -

Jan 1, 1961

By H. Qi, J. L. Feng, D. J. Li

"In the present paper, the characteristics of the granite burst under loading/unloading conditions was studied by means of both laboratory experiment and finite-discrete element method (FDEM). After gaining the mechanical properties of the granite samples under uniaxial compression conditions, the parameters taken as input arguments in the FDEM modelling were then carefully calibrated so as to provide some basic data including Young’s modulus, Poisson’s ratio, uniaxial strength, Lame constants, cohesive strength, and frictional angle for further being used in simulating granite bursts. All the simulating results by the FDEM were basically in agreement with that obtained from the uniaxial compression test and triaxial granite bursts in laboratory, respectively. This study shows that that such computational mechanics of discontinua can be employed to gain powerful insight into the failure mechanism of granite burst, which could also be a useful tool to clarify the collapse mechanism of rock structures in rock engineering design and rock test scheme optimisation. INTRODUCTIONBased on discontinuum state a priori, discontinuous modeling techniques that are commonly referred to as discrete element methods (DEM) treat the material directly as an assembly of separate blocks or particles, which was originally proposed by Cundall (1971) and Cundall and Strack (1979) from the viewpoint of analogous molecular dynamics simulation to better account for and understand the interaction between the blocks. The distinct feature of these formulations is that a constantly changing problem of geometry and contact conditions can be addressed by solving the equations of motion using an explicit time marching scheme (most often in a ‘leap-frog’ format), while updating contact force histories as a consequence of contacts between different discrete elements and/or resulting from contacts with model boundaries (Bicanic 1998). The most notable implementations of DEMs are arguably represented by the universal distinct element code (UDEC) (Itasca Consulting Group Inc., 2013) and the particle flow code (PFC) (Itasca Consulting Group Inc., 2012). Another formulation is the discrete crack framework that is based upon some criteria for an advancement of crack front, which is coupled with extensive local and global re-meshing while simulating by numerical methods such as finite element technique, commonly using fracture theories. Certainly, it is relatively easy to trace the propagation of single crack front governed by some principles of energy release rates (Ingraffea 1997) but tracing of multiple cracks leads to topological and algorithmic complexities. Otherwise, there is no consideration of interacting cracks in these formulations of finite element or enhanced finite element techniques (e.g., in XFEM and ABAQUS)."

Jan 1, 2015

By P. Kordi, L. Egorova, R. J. Bowell, D. Gurevich, V. Sedov, A. Mikhailov, D. A. Holwell

ABSTRACT Reconnaissance exploration in the Kuene region Namibia has included geological mapping, soil and stream sediment geochemistry, and ground geophysical methods. Copper mineralization occurs within a well-defined belt with north-northwest to south-southeast trend, parallel to the regional strike of the sedimentary rocks. The occurrences vary in size but are generally stratabound. The mineralization is centred on the transition from calcareous shale and interbedded limestone, through carbonate rocks, to quartzite. Geochemical anomalies have been identified correlating to induced polarization (IP) and magnetic anomalies. The anomalies identify one potential metallogenic zone more than 17 km in strike length.

Jan 1, 2012

By Rodney A. Cooper

The Mary River iron ore deposits were discovered in the 1960?s. The high quality of the deposits was immediately evident, and drilling programs were successful in defining a resource adequate for supporting a feasibility study. Through a combination of ownership, market and political forces, the deposits were not developed. Having missed the window of opportunity, the project remained dormant for over three decades. Baffinland Iron Mines Corporation, with its 100% ownership of the Mary River deposits, began trading publicly in 2004. Modern exploration and metallurgical test work began in 2004 and has continued in 2005 and 2006, resulting in total expenditures during this period of almost C$60 million. In May 2006, an engineering team lead by Aker Kvaerner E&C, a division of Aker Kvaerner Canada Inc., completed a scoping study based on the first of five identified deposits. Highlights of that study include direct shipping of high quality lump ore to Europe over a 34 year mine life at a production rate of 10 million tonnes per annum, based on an indicated resource of 309 million tonnes at 66.1% Fe and an inferred resource of 28 million tonnes at 65.9% Fe. Capital costs were estimated at C$1.5 billion. Using iron ore prices approximately 36% below that of the 2006 market, a pre-tax internal rate of return of 15% was estimated assuming equity financing. Payback on initial capital was 5.9 years. The pre-tax life-of-mine cash flow was estimated to be C$6.3 billion. As a result of this study, Baffinland initiated a Definitive Feasibility Study, under the management of Aker Kvaerner, which is scheduled for completion in December 2007. This paper touches on the geology of the deposits, the current resource and the outlook for expansion. Project permitting, construction planning, logistical challenges and ocean shipping considerations are discussed, providing a current perspective on the project scale, scope and timeline for commercial production. In addition, an overview of the Company?s bulk sampling program will be provided.

May 1, 2007

By D. J. M. Farnsworth

Since the 1.940's, the bulk of the ore production from the Sullivan Mine has come from pillars. These pillars, located from 100 to 2000 feet below surface, have been subjected to considerable ground pressure. Mining techniques were adopted to minimize the problems of deteriorating ground conditions. These techniques included an orderly sequential blasting of pillars along a retreat front, stage blasting of tall pillars in horizontal slices and utilization of broken pillars as "buffers". The latter two techniques involved leaving substantial tonnages of broken ore in place for as long as 4 years. Rapid oxidation of metal sulphides, with attendant heat and noxious gas generation, had occurred in a few very localized areas of the mine associated with a major water course. However, in a very short period starting in 1972, sulphide fires spread to several of the large blocks of broken ore that had been left inactive for lengthy periods. There proved to be no feasible method of extinguishing these fires, except by complete removal of the burning ore. The attendant problems of handling large tonnages of burning ore have had considerable negative impact on the mine operation. The chemical reactions involved in these sulphide fires have been studied by the mine staff to determine the conditions necessary for' initiation and propagation of the tires. Techniques to safely and efficiently handle hot ore have been implemented and refined. Lastly, and most important, mining methods at the Sullivan Mine have been revised to ensure that additional fires do not occur.

Jan 1, 1977

By Francoi Robert, Andre J. Audet, Alex C. Brown

"The Sigma gold deposit is in a band of deformed metavolcanic rocks that are cut by an irregular mass of porphyritic diorite and by narrow undeformed feldspar porphyry dykes. The gold is in veins consisting mainly of quartz and tourmaline with minor pyrite, carbonate, chlorite, scheelite and free gold. The results presented here concern the structural setting of the ore and are based on a study of the mode of emplacement.Two principal types of veins have been recognized: subvertical and oblique veins. Both types are contemporaneous, mechanically linked and postdate regional deformation. The sub-vertical veins are composed of numerous mineralized lenses that occupy the central part of ductile shear zones of great lateral and vertical extent. Normally, several lenses occur in the same shear zone. The vein material seems to have resulted from incremental filling of openings by repeated vertical movement along rupture planes developed in the central part of the shear zones.The oblique veins are small elliptical lenses of ribboned vein material which formed essentially by progressive vertical opening of oblique fractures. Two types of oblique veins are known: one is restricted to feldspar porphyry dykes, within which they are arranged in an en-echelon fashion; the other is of greater extent and is not restricted to one rock type, but tends, however, to occur in the more competent porphyritic diorite.Vein orientation and mode of formation suggest that both sub-vertical and oblique veins developed during progressive deformation associated with the formation of the ductile shear zones. The latter probably formed in response to a compression that took place late in the tectonic history of the host rocks at Sigma."

Jan 1, 1983

By John H. Nicholls

In this paper, Imperial Oil Limited reports briefly on the drilling by contract rigs of twenty-nine slim holes in the Virden, Smiley, and Souris Valley areas. The investigations showed that slim-hole penetration rates, as a result of careful control of drilling variables, can approach those achieved with 7 7/8-inch bits. It is concluded that slim-hole drilling is acceptable for development or exploratory work. Imperial also reports on the completion techniques and equipment that have been developed on twenty-seven tubingless 2 1/2-inch casing completions. Indications are that the method is economically desirable where excessive gas or water production is not anticipated.

Jan 1, 1958

"Acid resistant brick lined autoclaves and related vessels are utilized in pressure oxidation for the recovery of gold, copper, and other metals. The combination of the corrosion resistant membrane, acid resistant brick, mortar and steel shell is a composite system that requires a sophisticated stress analysis. In order to obtain meaningful results both the model and physical properties of the materials must be carefully selected. Evaluation of the calculated results requires an understanding of both the failure mechanisms of ceramics and experience with the performance of existing lining systems.INTRODUCTIONAcid brick lining systems are used in pressure oxidation autoclaves and related vessels to provide thermal and mechanical protection for corrosion resistant membranes that are applied directly to the interior of the vessel shell. The acid brick and mortar must be resistant to the process conditions and must provide a mechanically reliable structure.The construction of lined vessels incorporates a wide range of materials that can include the carbon steel vessel, austenitic weld overlay, lead lining, organic membrane, ceramic brick, mortars and other alloy components. The physical properties of the materials can vary by orders of magnitude and when combined in the construction of the lined vessel create a complex composite structure. The materials may be bonded together or act independently of each other. Stresses are induced into the lined vessel include pressure, thermal expansion, chemical expansion and mechanical loads.The complexity of these systems makes it is very difficult to account for all of the variables in the structural analysis of lined vessels. Historically calculations were simplified and designers primarily relied on experience with previous applications.The greatly improved tools for Finite Element Analysis (FEA) available today allow for detailed calculation of the stresses imposed on the vessel shell and lining. Koning & Lauzon (2004) presented a paper on design fundamentals including a discussion on the application of FEA methods at Pressure Hydrometallurgy 2004 in Banff. When a designer carefully constructs a model and selects the correct materials properties for the calculations, meaningful and useful results can be achieved."

Jan 1, 2012

By Francoi Robert, Andre J. Audet, Alex C. Brown

"The Sigma gold deposit is in a band of deformed metavolcanic rocks that are cut by an irregular mass of porphyritic diorite and by narrow undeformed feldspar porphyry dykes. The gold is in veins consisting mainly of quartz and tourmaline with minor pyrite, carbonate, chlorite, scheelite and free gold. The results presented here concern the structural setting of the ore and are based on a study of the mode of emplacement.Two principal types of veins have been recognized: subvertical and oblique veins. Both types are contemporaneous, mechanically linked and postdate regional deformation. The sub-vertical veins are composed of numerous mineralized lenses that occupy the central part of ductile shear zones of great lateral and vertical extent. Normally, several lenses occur in the same shear zone. The vein material seems to have resulted from incremental filling of openings by repeated vertical movement along rupture planes developed in the central part of the shear zones.The oblique veins are small elliptical lenses of ribboned vein material which formed essentially by progressive vertical opening of oblique fractures. Two types of oblique veins are known: one is restricted to feldspar porphyry dykes, within which they are arranged in an en-echelon fashion; the other is of greater extent and is not restricted to one rock type, but tends, however, to occur in the more competent porphyritic diorite.Vein orientation and mode of formation suggest that both sub-vertical and oblique veins developed during progressive deformation associated with the formation of the ductile shear zones. The latter probably formed in response to a compression that took place late in the tectonic history of the host rocks at Sigma."

Jan 1, 1983

By Andrew Kerr

Overview of Presentation ? Introduction ? An historical context: From 1866 to the 21st century. ? Geological framework for iron ore in the region known as the ?Labrador Trough?. ? Producing iron-ore deposits of the Labrador City ? Wabush area, and near-future production from the Schefferville area. ? Exploration projects representing potential future production?.or expansion of the district. ? Some concluding remarks???

May 1, 2011

By David S. Robertson, Richard F. Douglas

"Uranium is a lithophile element of relatively low natural abundance. Concentrations of uranium form through processes of erosion and sedimentation, and over 90 per cent of the western world's uranium ore reserves are in sedimentary rocks.Proterozoic quartz-pebble conglomerates contain about 60 per cent of the known uranium reserves. These are all similar in appearance, in mode of distribution and in manner of origin. They carry uranium minerals and/or gold and abundant pyrite. Their unique distribution in Huronian time required a pre-existing crust well enough evolved to have plentiful quartz and abundant gold, uranium and pyrite. The materials of value were deposited as detrital heavy minerals prior to the appearance of an oxidizing atmosphere in late Proterozoic time.Epigenetic uranium deposits occur in arkosic sedimentary rocks through the entire geological column. About 30 per cent of the western world's known ore reserves are in _these rocks. This type of deposit is particularly prominent in semi-arid parts of the United States, having yielded most of the uranium ore produced and containing nearly all of the known reserves.The Western States type"" of deposits occur in lenticular, permeable stream-laid sedimentary rocks. The de-posits are believed to have been precipitated from moving ground water at locations where plant debris or other organic matter had accumulated. The uranium may be derived from volcanic sediments, which are commonly associated with the units containing the ore, or it may be leached from exposed granite surfaces or from granitic debris which forms the sediments.A significant part of the world's uranium resources are in black shales and lignitic rocks. The lignites that contain uranium are virtually valueless as potential sources of heat. Uranium concentrations at levels such as to be potential sources of by-product uranium occur in many phosphorites.Reworked sediments may provide uranium in pegmatites and vein-like deposits."

Jan 1, 1970

By W A. Bardswich

The numerous factors associated with the prov1s1on of satisfactory air conditions in hot and humid Canadian mines are described. The main heat sources are auto-compression and the actual flow of heat from the rock. Temperatures reach 97°F at a depth of 8,100 feet. Various methods used in coping with high temperatures are described, including the use of ice stopes and heat exchangers. Moisture control, desirable air volumes and velocities, sizes of airways and methods of distribution are important considerations. A comparison of the temperatures, humidities and types of airways of two deep mines should prove useful in the design of future ventilation systems. Introduction OUTDOOR temperatures in northern Ontario vary from a low of around -40°F in winter to a high of about +90°F in summer. The average annual mean temperature over a 12-year period was +35°F, with a summer mean of 54 o and a winter mean of 16°. Because of low outdoor temperatures, a number of northern mines must heat fresh air for underground ventilation in winter; others, with high rock temperatures, are faced with a year-round cooling problem.

Jan 1, 1965

By D. R. Boyle

"The basal type uranium deposits in south central British Columbia occur within unconsolidated, late Miocene fluvial paleochannel sediments that overlie major fault zones within the Okanagan Highlands Intrusive Complex. Prior to the formation of mineralization, paleovalleys containing host sediments were flooded by Pliocene valley basalts of the Plateau Basalt Formation. Five uranium deposits have been outlined to date, of which the Blizzard (4020 tonnes U) and TYee (650 tonnes U) are the largest. The basement intrusive complex underlying the deposits varies in age from early Cretaceous to Eocene and is comprised of quartz monzonite, granodiorite, Coryell monzonite, porphyritic granite and pegmatite.The mineralized host sediments comprise a complex sequence of interfingering conglomerates, arkosic sandstones and mudstones. Organic material is abundant in many, but not all, mineralized beds. Uranium mineralization is present in the form of uranous (ningyoite) or uranyl (saleeite, autunite) phosphates coating clastic grains and filling voids. Because of very strong reducing conditions related to large concentrations of marcasite and organic material, ningyoite is the only uranium mineral in the Tyee deposit, whereas the Blizzard deposit contains a more complex assemblage of minerals (saleeite, autunite, ningyoite). The observed paragenetic sequence of mineral precipitation in the Blizzard deposit (autunite-saleeite-ningyoite) indicates that the uranyl minerals, saleeite and autunite, are primary. Small amounts of Zn, Ni, Co and Mo have been introduced into the Blizzard deposit whereas Mo is the only non ore-forming element enriched in the Tyee deposit. Mn is the only depleted element in both deposits."

Jan 1, 1986

"Industry Guide 7 contains the Securities and Exchange Commission’s basic mining disclosure policy. It provides guidance for Registrants on various matters including the definition and disclosure of proven and probable reserves and the definitions of exploration, development and production stages. The definitions and disclosure instructions contained in this Guide apply to all public mining entities and their public disclosures. As NI 43-101 is law in Canada, the SEC allows mineral resources and mineral reserves prepared under CIM Definition Standards for issuers that are reporting in Canada but are also registered with the SEC. The SEC places conditions on the disclosure of these estimates. US shareholders are cautioned that the requirements under NI 43-101 and the CIM Definition Standards differ significantly from those of Industry Guide 7.Note: this Guide contains the Commission's basic mining disclosure policy. The definitions and disclosure instructions contained in this Guide apply to all public mining entities and their public disclosures pursuant to the rules of Regulation S-K. Questions regarding the application of these definitions and rules to specific situations should be asked of the Commission's mining engineers or geologists at either the Office of Engineering, Division of Corporation Finance, 202-272-3252, or the Branch of Geology, Central Regional Office, 303-844-1000.(a) Definitions. The following definitions apply to registrants engaged or to be engaged in significant mining operations:(1) Reserve. That part of a mineral deposit which could be economically and legally extracted or produced at the time of the reserve determination.Note: Reserves are customarily stated in terms of DoreD when dealing with metalliferous minerals; when other materials such as coal, oil shale, tar, sands, limestone, etc. are involved, an appropriate term such as Drecoverable coalD may be substituted.(2) Proven (Measured) Reserves. Reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes, grade and/or quality are computed from the results of detailed sampling and (b) the sites for inspection, sampling and measurement are spaced so closely and the geologic character is so well defined that size, shape, depth and mineral content of reserves are well- established.(3) Probable (Indicated) Reserves. Reserves for which quantity and grade and/or quality are computed from information similar to that used for proven (measured) reserves, but the sites for inspection, sampling, and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points of observation.(4)(i) Exploration StageDincludes all issuers engaged in the search for mineral deposit (reserves) which are not in either the development or production stage."

Jan 1, 2003

By William E. Roscoe

"Valuation methods are well established for mineral properties with production or imminent production, and include discounted cash flow and comparable transactions. Valuation methods for non-producing mineral properties, however, are more subjective. Non-producing mineral properties include those at various stages of exploration, properties at the prefeasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. Different valuation methods may be appropriate for different types of mineral properties.Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage. The market approach is generally appropriate to all types of mineral properties, although it is difficult to find good comparables because of the unique nature of mineral properties and the small number of transactions. Cost approach methods, such as appraised value and geoscience factor, are commonly used for exploration stage properties.Canadian standards and guidelines for valuation of mineral properties are in the process of being finalized by a Special Committee of the Canadian Institute of Mining, Metallurgy and Petroleum (CIMVal Committee). The CIMVal Standards are intended to be consistent with National Instrument 43-101, which sets regulatory standards of disclosure for mineral projects, and with International Valuation Standards. The intent of the CIMVal Standards and Guidelines is that mineral property valuation be carried out by appropriately qualified individuals and that all relevant information be disclosed."

Jan 1, 2003