This news release uses the terms indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimates disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. It cannot be assumed that all or any part of
an inferred mineral resource will ever be upgraded to an indicated or measured mineral resource category; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility
or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.
McFarlane, 109.6 metres, 0.69 g/t gold, inferred mineral resources, NI 43-101, CIM Definition Standards, mineral reserves
0.69 g/t sounds like nothing tbh.
So they’re saying it’s gold but also not really? Like inferred means maybe, and reserves means actual money, right? I’m confused why this is news either way.
Wait, inferred resources can’t be used for feasibility studies? That seems backwards like they found it but can’t even test it for profit. 0.69 g/t is also super specific—like is that per ton or what? I don’t get it.
Every time I see “inferred” I assume it’s basically made up marketing numbers. They keep saying it might be affected by permitting and legal stuff so… how is it not just speculation? If it can’t become a mineral reserve, then what are they actually doing besides looking for more investors?