Great Bear Resources Ltd. GTBAF

Here's some interesting bits.

[captainpooby]

The NI 43-10 leaves a lot of decisions about defining the resouce to the qualified person at the mine site.

Mineral resource

• Definition of a mineral resource [CIM Definition Standards - May 2014] Concentration or occurrence of solid material of economic interest in or on the

Earth’s crust
Form, grade or quality, and quantity is such that it has reasonable prospects for

eventual economic extraction

Location, quantity, grade or quality, continuity and other geological characteristics are known, estimated or interpreted from specific geological evidence and knowledge, including sampling

Additional Guidance:
• Tonnes & grade figures are not precise calculations and should be referred to as “estimates” • Round-off the estimate to a reasonable number of significant figures (i.e. 2 to 3) 
 

CIM guidance – “reasonable prospects”

• Implies a judgment call by the QP in respect of the technical and economic factors likely to influence the prospect of eventual economic extraction

• Basis for determining “reasonable prospects” needs to be clearly stated and should include:

  Cut-off grade
  Commodity price
  Metallurgical recovery
  Mining and processing method
  Mining, processing, and general and administrative costs

  “Resource estimates are expressions of judgement and opinion based on knowledge, experience,