mapping of crirsco template to unfc-2009...template, for use internationally for market purposes -...

Almaty, 10-11 December, 2009

Mapping of CRIRSCO Template

to

UNFC-2009UN-ECE WORKSHOP

ALMATYDecember 10th 2009

60

John A Clifford


PRESENTATION OUTLINE

61

• UNFC General Principles

• CRIRSCO – UNFC Alignment

• CRIRSCO and the Russian Code

Almaty, 10-11 December, 2009 62

UNFC GENERAL PRINCIPLES


CRIRSCO – UNFC – SPE

63

Range of Technical Uncertainty

RESERVES

PRODUCTION

PROSPECTIVERESOURCES

UNRECOVERABLE

UNRECOVERABLE

TOTA

L PE

TRO

LEU

M IN

ITIA

LLY-

IN-P

LAC

E (II

P)

DIS

CO

VE

RE

D I

IP

Su

b-C

om

me

rcia

lC

om

me

rcia

l

UN

DIS

CO

VE

RE

D I

IP

Incr

ea

sin

g C

om

me

rcia

l C

ert

ain

ty

Po

ten

tia

lly

Co

mm

erc

ial

CONTINGENTRESOURCES

ExplorationResults

Geo

logi

cal K

now

led

ge a

nd

Con

fid

ence

MineralResources

Probable

ProvedMeasured

Indicated

Inferred

MineralReserves

(the “modifying factors)

Separate butCross-referenced


UNFC (2009) - AXES

64

• The E axis designates the degree of favourability of social and economic conditions in establishing the commercial viability of the project, including consideration of market prices and relevant legal, regulatory, environmental and contractual conditions.

• The F axis designates the maturity of studies and commitments necessary to implement mining plans or development projects.

• The G axis designates the level of confidence in the geological knowledge and potential recoverability of the quantities.

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4

Geological Knowledge

Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – “E” AXIS

65

• E1 = Extraction and sale has been

confirmed to be economically viable.

• E2 = Extraction and sale is expected

to become economically viable in

the foreseeable future.

• E3 = Extraction and sale is not

expected to become economically

viable in the foreseeable future or

evaluation is at too early a stage to

determine economic viability

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – “F” AXIS

66

• F1 = Feasibility of extraction by a defined

development project or mining operation

has been confirmed.


development project or mining operation is

subject to further evaluation.


development project or mining operation

cannot be evaluated due to limited

technical data.

• F4 = No development project or mining

operation has been identified.

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – “G” AXIS

67

• G1 = Quantities associated with a known

deposit that can be estimated with a high

level of confidence.


deposit that can be estimated with a

moderate level of confidence.


deposit that can be estimated with a low

level of confidence.

• G4 = Estimated quantities associated with

a potential deposit, based primarily on

indirect evidence.

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


CRIRSCO – UNFC ALIGNMENT


UNFC (2009) – CRIRSCO “EXPLORATION RESULTS”

69

• Exploration Results include data and

information generated by exploration

programmes that may be of use to

investors but which may not be part of

a formal declaration of Mineral

Resources or Mineral Reserves.

• E3; F3; G4

• = 334

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO “RESOURCES”

70

• A ‘Mineral Resource’ is a concentration

or occurrence of material of economic

interest in or on the Earth’s crust in such

form, quality and quantity that there are

reasonable prospects for eventual

economic extraction. The location,

quantity, grade, continuity and other

geological characteristics of a Mineral

Resource are known, estimated or

interpreted from specific geological

evidence, sampling and knowledge.

• UNFC (2009): E2 - F2 Axes

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC – CRIRSCO INFERRED

71

• An ‘Inferred Mineral Resource’ is that part of a

Mineral Resource for which tonnage, grade

and mineral content can be estimated with a

low level of confidence. It is inferred from

geological evidence, sampling and assumed

but not verified geological and/or grade

continuity. It is based on information gathered

through appropriate techniques from locations

such as outcrops, trenches, pits, workings

and drill holes which is limited or of uncertain

quality and reliability.

• UNFC (2009): E2; F2; G3 = 223

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO “INDICATED”

72

• An ‘Indicated Mineral Resource’ is that part of a

Mineral Resource for which tonnage, densities,

shape, physical characteristics, grade and

mineral content can be estimated with a

reasonable level of confidence. It is based on

exploration, sampling and testing information

gathered through appropriate techniques from

locations such as outcrops, trenches, pits,

workings and drill holes. The locations are too

widely or inappropriately spaced to confirm

geological and/or grade continuity but are spaced

closely enough for continuity to be assumed.

• UNFC (2009): E2; F2; G2 = 222

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO “MEASURED”

73

• A ‘Measured Mineral Resource’ is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are spaced closely enough to confirm geological and grade continuity.

• UNFC (2009): E2; F2; G1 = 221

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO “RESERVES”

74

• A ‘Mineral Reserve’ is the economically mineable

part of a Measured and/or Indicated Mineral

Resource. It includes diluting materials and

allowances for losses, which may occur when the

material is mined. Appropriate assessments and

studies have been carried out, and include

consideration of and modification by realistically

assumed mining, metallurgical, economic,

marketing, legal, environmental, social and

governmental factors. These assessments

demonstrate at the time of reporting that

extraction could reasonably be justified.

• UNFC (2009): E1 – F1 Axes

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO “PROBABLE”

75

• A ‘Probable Mineral Reserve’ is the economically mineable part of an Indicated, and in some circumstances, a Measured Mineral Resource. It includes diluting materials and allowances for losses which may occur when the material is mined. Studies to at least Pre-Feasibility level will have been carried out, including consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. The results of the studies demonstrate at the time of reporting that extraction could reasonably be justified.

• UNFC (2009) = E1; F1; G2 = 112

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO “PROVED”

76

• A ‘Proved Mineral Reserve’ is the economically

mineable part of a Measured Mineral Resource.

It includes diluting materials and allowances for

losses, which may occur when the material is

mined. Studies to at least Pre-Feasibility level

will have been carried out, including

consideration of, and modification by,

realistically assumed mining, metallurgical,

economic, marketing, legal, environmental,

social and governmental factors. These studies

demonstrate at the time of reporting that

extraction is justified.

• UNFC (2009): E1; F1; G1 = 111

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility


UNFC (2009) – CRIRSCO TEMPLATE

77

E1

E2

E3

F1

F2

F3

F4

G1 G2 G3 G4


Socio‐Econ

omic Viability

Project Feasibility

334 = Exploration Results

221 = Measured Resources222 = Indicated Resources223 = Inferred Resources

111 = Proved Reserves112 = Probable Reserves


CRIRSCO AND THE RUSSIAN CODE


PROTOCOL OF 22ND OCTOBER 2008

79


CRIRSCO-GKZ MAPPING• Working Group established to:

– Develop a clear understanding of the two resource and reserve reporting

systems

– Agree a basis for mapping of the Russian classification to the CRIRSCO

Template

– Publish Conversion Guidelines: A Consultation Draft will be published shortly.

• Objective

– Development of a new Russian standard, aligned with the CRIRSCO

Template, for use internationally for market purposes - in parallel with the

existing Russian system for regulatory purposes

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mapping of crirsco template to unfc-2009...template, for use internationally for market purposes -...

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