Mineral Exploration News

Mineral Resource and Reserve Definitions Approved

A new set of definitions and guidelines has been approved for reporting exploration information, mineral resources and mineral reserves in Canada. The approval of CIM Standards on Mineral Resources and Reserves–Definitions and Guideline by the national council of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) took place in August. These standards will replace the previous classification system and definitions contained in the CIM’s Ad Hoc Committee report of February 1996.

The standards are applicable to all minerals including industrial minerals, diamonds and other gemstones, but will not apply to bitumen, natural gas and oil.

It is anticipated that the standards will soon be available on the web site www.cim.org