An Approach to More Objective Classification of Mineral Resources

The categories of Mineral Resources and Ore Reserves that may be used for public reporting in Australasia are defined in the current JORC Code (2004). Most internationally accepted codes emphasise the principles of transparency, materiality and competence in classifying resources. They also provide some guidance in considering the impact of data quality. There is no method recommended in the JORC Code to classify a Mineral Resource into the allowed categories of Measured, Indicated and Inferred for public reporting. A clearly defined procedure is desirable for many reasons, including consistency, repeatability and auditability. The demonstrated use of geological knowledge in the classification method is desirable. In deposits with abundant historical data there can be large variations in data type and quality. Quantification of the error of the estimates may also be considered. Ways to formally incorporate such information into the resource classification process are presented as a first step towards establishing an objective, repeatable methodology that allocates resources into appropriate categories based on defined criteria of accuracy and precision.