Probable Reserve definition

Probable Reserve. ’ means, in a context other than oil and gas, the economically mineable part of an Indicated Resource and, in some circumstances, a Measured 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.

Probable Reserve means the estimated quantity and grade of that part of an Indicated Resource for which the economic viability has been demonstrated by adequate information and engineering, operating, economic and legal factors, at a confidence level that will allow positive decisions on major expenditures.

Probable Reserve means, in a context other than oil and gas, the economically mineable part of an indicated, and in some circumstances, a Measured Mineral Resource. The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proven Mineral Reserve.

Examples of Probable Reserve in a sentence

• In order to progress to an Indicated Resource, and from there to a Probable Reserve, it is likely that much more extensive bulk sampling would be needed to fully determine the stone size distribution and value.

• The Proven and Probable Reserve estimation is sufficient for approximately 29 years of mining life at the expanded rate of 2.8 million tonnes of product per year.

• All Indicated Resource and associated dilution w as classified as Probable Reserve.

• Mere inference of the continuity of coal thickness and quality from an operating mine onto a neighboring block or property is not sufficient to declare Measured and Indicated Resources and subsequently a Proven and Probable Reserve.

• Where bulk samples have not been used, the Competent Person should provide an explanation why they have not been used In order to progress to an Indicated Resource, and from there to a Probable Reserve, it is likely that much more extensive, representative bulk sampling (and/or trial mining) would be needed to determine fully the stone size distribution and value.

• It must be verified by the Company’s independent engineering consultant based on a preliminary feasibility study or feasibility study; it must consist of only JORC Measured and Indicated resource estimate on a single project (e.g. Elan South, or Isolation South etc) and can be a combination of Proven and Probable Reserve under the JORC code.

• On January 7, 2021, we announced the updated Indicated Resource and Probable Reserve Estimates of the Gold Bar mine and subsequently filed the 43-101 Technical Report on February 22, 2021.

• The status of the modifying factors are considered sufficient to support the classification of the Probable Reserve when based upon the Indicated Resource.

• The Proven and Probable Reserve estimate has been reported to conform with the CIM Standards on Mineral Resources (CIM, 2005) of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM).

• Mere inference of the continuity of coal thickness and quality from an operating mine onto a neighboring block or property is not sufficient to estimate Measured and Indicated Resources and subsequently a Proven and Probable Reserve.

More Definitions of Probable Reserve

Probable Reserve means the estimated quantity and grade of that part of an Indicated Resource for which the economic viability has been demonstrated by adequate information regarding, inter alia, mining, engineering, operating, economic and legal factors, at a confidence level (of at least a pre- feasibility Study) that will allow positive decisions on major expectations. 2. CORPORATE STRUCTURE Name, Address and Incorporation‌‌‌Atlatsa Resources Corporation (formerly known as Anooraq Resources Corporation) was incorporated on April 19, 1983 under the Companies Act (British Columbia) (the “Old Act”). The Company was transitioned under the Business Corporations Act (British Columbia) (the “BCBCA”) on June 11, 2004, on which date the Company altered its Notice of Articles to change its authorized share structure from 200,000,000 common shares without par value to an unlimited number of common shares without par value. In 2016, the Company further altered its Notice of Articles to remove the pre-existing company provisions applicable to a company incorporated under the Old Act and adopt a new form of articles which grant the Company increased flexibility as provided for under the BCBCA.The Company’s registered office is Suite 1700, Park Place, 666 Burrard Street, Vancouver, British Columbia, V6C 2X8, Canada, telephone: (604) 631-1300, facsimile: (604) 681-1825. The South African head office of the Company is located at 2nd Floor, North Wing – The Business Exchange, 90 Rivonia Road, Sandton, South Africa, 2146, telephone: +27 010 286 1166. The Company’s common shares are listed for trading on the TSX (symbol ATL), and the JSE (symbol ATL). Intercorporate Relationships‌ Atlatsa, through its wholly owned South African subsidiary, Plateau, holds a 51% controlling interest and management control in Bokoni Holdco. Bokoni Holdco holds a 100% interest in several PGM projects, including the operating Bokoni Mine and exploration companies such as Boikgantsho, Ga- Phasha and Kwanda. As a result of a transaction with RPM on December 13, 2013, Boikgantsho and Ga-Phasha do not currently hold any mineral properties and are now dormant. Atlatsa also holds direct interest in the Central Block (see Item Central Block) and Rietfontein properties (see Item Rietfontein Block) and indirect in the Kwanda properties (see Item Kwanda Project (North Block and South Block)). Below is a list of the Company’s subsidiaries. Notes

Probable Reserve means that portion of an Indicated Resource which has been adjusted for mining dilution and mining recovery which has been designated as such by the Borrower, audited and approved by the Independent Engineer, after consultation with the Administrative Agent, to be technically and economically mineable under current economic and operating conditions, all in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum standard therefor.

Probable Reserve means the estimated quantity and grade of a Mineral Resource based on drill samples for which the potential for economic viability has been demonstrated by engineering, operating, economic, and legal factors at a level that will allow decisions on major expenditures;

Probable Reserve means the economically mineable part of an Indicated, and in some circumstances Measured Mineral Resource. It includes diluting materials and allowances for losses which may occur when the material is mined. Appropriate assessments, which may include feasibility studies, have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction could reasonably be justified.

Probable Reserve. ’ means the economically mineable part of an Indicated Resource and, in some circumstances, a Measured Resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining,