Resource & Reserve Estimation

A Mineral Resource is an in-situ concentration of material with reasonable prospects for eventual economic extraction, classified as Inferred, Indicated or Measured by geological confidence. An Ore Reserve is the economically mineable part of a Measured or Indicated Resource, demonstrated by at least a pre-feasibility study with the modifying factors applied. The Reserve is what a mine plan can actually deliver.

Conversion applies the JORC modifying factors through mining-study work: mine design with dilution and mining recovery, a production schedule, processing and metallurgical performance, infrastructure, operating and capital costs, and revenue assumptions brought together in an economic model — plus legal, environmental, social and government considerations. Go Engineering delivers this as part of scoping-to-DFS study workflows, so the Ore Reserve is the output of engineering rather than an assertion.

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — prepared by the Joint Ore Reserves Committee of AusIMM, the Australian Institute of Geoscientists and the Minerals Council of Australia, and mandatory for public reporting by ASX-listed companies. Its principles of transparency, materiality and competence underpin every statement we produce.

Only a Competent Person under the JORC Code: a member or fellow of AusIMM or the AIG (or an overseas Recognised Professional Organisation) with at least five years of experience relevant to the style of mineralisation, type of deposit and the activity being reported. Our statements are prepared and signed by Competent Persons who meet those requirements.