Open pit
A form of surface mining in which ore is extracted from a large open pit
or burrow.
Ore
Rock, generally containing metallic or non-metallic minerals, that can be
mined and processed at a profit.
Ore body
A sufficiently large amount of ore or a natural concentration of valuable
material that can be economically extracted.
Placer
An alluvial, marine, or glacial deposit containing valuable metals,
especially gold.
Preliminary
Feasibility Study*
A comprehensive study of the viability of a mineral project that has
advanced to a stage where the mining method, in the case of underground
mining, or the pit configuration, in the case of an open pit, has been
established and an effective method of mineral processing has been
determined, and includes a financial analysis based on reasonable
assumptions of technical, engineering, legal, operating, economic, social,
and environmental factors and the evaluation of other relevant factors that
are sufficient for a Qualified Person, acting reasonably, to determine if all or
part of the Mineral Resource may be classified as a Mineral Reserve.
Probable Mineral
Reserve*
The economically mineable part of an Indicated and, in some
circumstances, a Measured Mineral Resource demonstrated by at least a
Preliminary Feasibility Study. This Study must include adequate information
on mining, processing, metallurgical, economic, and other relevant factors
that demonstrate, at the time of reporting, that economic extraction can be
justified.
Proven Mineral
Reserves*
The economically mineable part of a Measured Mineral
Resource demonstrated by at least a Preliminary Feasibility Study.
This Study must include adequate information on mining, processing,
metallurgical, economic, and other relevant factors that demonstrate,
at the time of reporting, that economic extraction is justified.
Qualified Person*
An individual who is an engineer or geoscientist with at least five years
of experience in mineral exploration, mine development or operation, or
mineral project assessment, or any combination of these; has experience
relevant to the subject matter of the mineral project and the technical
report; and is a member or licensee in good standing of a professional
association.
Rare earth metals
A set of 17 chemical elements that are typically dispersed and not often
found in concentrated and economically exploitable deposits: scandium
(Sc), yttrium (Y), lanthanum (La), cerium (Ce), praseodymium (Pr),
neodymium (Nd), promethium (Pm), samarium (Sm), europium (Eu),
gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er),
thulium (Tm), ytterbium (Yb), and lutetium (Lu).
Recovery
The percentage of valuable metal that is recovered from the ore.
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A Guide to Canadian Mining Taxation