EXPM:HRTFF - Post by User
Comment by
rollonon Feb 21, 2019 11:34am
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Post# 29394233
RE:RE:RE:???
RE:RE:RE:???FlyingHighAgain wrote:
Thanks rollon...
A mineral reserve is the economically mineable part of a measured or indicted mineral 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. A mineral reserve includes diluting materials and allowances for losses that may occur when the material is mined.
I think this is the part whitch applies to the next step for us...if i understand the 1.1M can grow a little or shrink a little...am i right ?
That is correct. A proven or measured reserve is bankable in terms of economics. We had the pre-economic assessment report and now we will get in Q1 the Feasibility study. This will show measured/proven. This of course will be less than the current indicated number and as time moves on more drilling will be done to move indicated to measured/proven. In 2018 80% of the drilling was designated to adding inferred to indicated. Only 20% was targeted at exploration in terms of defining inferred. Thus the results. For 2019 SR says the following " Near mine exploration in 2019 will focus on the expansion of Inferred Mineral Resources along strike and the convergence of all three zones Sugar, Middle and Wolf at depth. We wont know much until the Annual meeting in April in terms of mill operations, cash flow generated and operational funding moving forward. How much will be available for exploration other than adding measured/proven from indicated. So we wait unless there is a glory hole event. Long and Strong. One step at a time.