Mineral resource classification

Mineral resource classification is the classification of mineral resources based on an increasing level of geological knowledge and confidence. Mineral deposits can be classified as: In common mining terminology, an 'ore deposit' by definition must have an 'ore reserve', and may or may not have additional 'resources'. Classification, because it is an economic function, is governed by statutes, regulations and industry best practice norms. There are several classification schemes worldwide, the most commonly used are the Canadian CIM classification (see NI 43-101), the Australian Joint Ore Reserves Committee Code (JORC Code), the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC) and the “chessboard” classification scheme of mineral deposits by H. G. Dill.