Inferred Mineral Resource definition

Inferred Mineral Resource means 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.

Inferred Mineral Resource means that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

Inferred Mineral Resource means, under CIM Definition Standards, 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. U.S. INVESTORS ARE CAUTIONED NOT TO ASSUME THAT ANY PART OR ALL OF AN INFERRED RESOURCE EXISTS, OR IS ECONOMICALLY OR LEGALLY MINEABLE.

Examples of Inferred Mineral Resource in a sentence

• At Santa Elena M&I totalled 18.8 million ounces of silver and 544,000 ounces of gold, corresponding to 70.8 million ounces of silver equivalent representing an 11% increase.⮚ Inferred Mineral Resource estimates for the Company’s material assets totalled 235.1 million silver equivalent ounces consisting of 75.3 million ounces of silver and 2.08 million ounces of gold.

• A summary of the Copper Projects is set out below.Queensland Project The Company announced obtaining rights to the Queensland Project in its announcement of 18 August 2021 which also addresses the prospectivity of this Project The Queensland Project contains a JORC Code Inferred Mineral Resource of 143Mt @ 0.29% copper at a 0.2% cut-off grade and is close to major infrastructure including Gladstone deep-water port, 50km to the east.

• Undrilled porphyry copper mineralisation is visible at surface within a 2km geochemical anomaly surrounding the Inferred Mineral Resource, indicating excellent potential to substantially increase the size of the resource with further exploration drilling.

• Indicated Mineral Resource Inferred Mineral Resource Cut-offsTonnes Tonnes Company The information in this report which relates to Mineral Resources is based on information compiled by Mr Zhu and Dr Jia, full time employees of SRK Consulting (China) Ltd and members of the Australasian Institute of Mining and Metallurgy.

• Maiden JORC (2012) Inferred Resource EstimateOn 6 February 2018, the Company announced a Maiden independent Inferred Mineral Resource estimate completed in accordance with JORC (2012) in respect of the Toral Project, Spain.

More Definitions of Inferred Mineral Resource

Inferred Mineral Resource and “inferred resource” means “inferred mineral resource” as defined by the CIM in the CIM Definition Standards and is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

Inferred Mineral Resource and “inferred resource” means “inferred mineral resource” as defined by the CIM in the CIM Definition Standards and is that part of a mineral resource for which quantity and grade or quality are estimated on the

Inferred Mineral Resource means 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,

Inferred Mineral Resource means that part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability"KOV Open Pit"means the open pit mine situated near Kolwezi in the Lualaba province of DRC, consisting of the Kamoto East, Oliveira, Virgule, Variante and FNSR ore bodies"lithology" or "lithogical"geological description pertaining to different rock types"Lower Roan"subgroup of the Roan Group consisting of shales with grit; dolomites; argillaceous dolomites; arenites and argillites; main Cu stratiform mineralization, also referred to as R2"Mashamba East Open Pit"Mashamba east mine, an open pit mine in development"Material Assets"means those assets set out in Section 1.5 of the 2018 Technical Report. A summary of the 2018 Technical Report is included in Schedule "B""measured mineral resource"means that part of a mineral resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It 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. The locations are spaced closely enough to confirm geological and grade continuity."metasedimentary"metamorphosed sedimentary rock"mineral"a naturally occurring inorganic substance typically with a crystalline structure"mineral resource"a concentration or occurrence of material of economic interest in or on the earth's crust in such form, quality and quantity that there are reasonable and realistic prospects for eventual 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. Mineral resources are sub-divided in order of increasing geological confidence, into inferred, indicated and measured categories"MW"means a megawatt"Mwashya" or "R4"altered stratified greyish siliceous dolomitic rock with oolitic horizons and a few bands of light yellow talcose schist"ore"a mineral or rock that can be worked economically"ore or mineral reserve...

Inferred Mineral Resource means, according to the JORC Code, that part of a

Inferred Mineral Resource means a mineral resource inferred from geoscientific evidence, drill holes, underground openings or other sampling procedures where the lack of data is such that continuity cannot be predicted with confidence and where geoscientific data may not be known with a reasonable level of reliability.

Inferred Mineral Resource has the meaning given in and is to be determined as prescribed in SAMREC.