Mineral Resource and Mineral Reserve Estimation and Reporting - The Canadian System - 2023

Mining & Minerals - Evaluations / Mineral Exploration Activities - General

Pressacco reported in 2023 to the AIPG.

His presentation coverage:

• Review of Mineral Resource and Mineral Reserve (MRMR) Estimation and Disclosure Components,
• Practice vs Disclosure – The Canadian System,
• Introduction of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines,
• Guidance Examples,
• Sources of Additional Information, and
• Questions

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Summary

• There are three components to MRMR estimation and disclosure: definitions, estimates, and disclosure of results.
• A number of countries have adopted a common set of standard definitions relating to MRMR.
• Disclosure is accomplished either by means of reports (NI 43-101 or SK1300) or by means of Table 1.
• While many jurisdictions provide guidance relating to definitions and disclosure, few provide guidance relating to the practice of preparing
  MRMR estimates.
• Disclosure of information relating to mineral properties in Canada and the United States is governed under securities legislation.
• Scientific and technical disclosure in both jurisdictions is supported by a Technical Report (Canada) or Technical Report Summary (United
  States).
• In the author’s opinion, both these reports provide an enhanced level of disclosure relative to a Table 1 summary.
• In addition, the Canadian system differs in that it provides guidance to practitioners for preparation of MRMR estimates by means of a series
  of Best Practice Guidelines.

rpressacco@slrconsulting.com