Mineral Resources and Ore Reserves underpin the enterprise value of a company and provide a basis for life of mine and annual budgets.
Red River’s estimates of Mineral Resources and Ore Reserves are undertaken by a team of highly skilled technical personnel including geologists, mining engineers and metallurgist that qualify as Competent Persons under the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).
The JORC Code is a framework for classifying Mineral Resource and Ore Reserve estimates. Mineral Resources can be classified as Measured, Indicated and Inferred, according to the level of geological knowledge and confidence. Ore Reserves can be classified as Proved or Probable on the basis of the Mineral Resource classification and consideration of all JORC modifying factors. Only Measured and Indicated Mineral Resources can be converted to Ore Reserves.
Figure 1 General Relationship between Exploration Results, Mineral Resources and Ore Reserves
The figures included in our Mineral Resources and Ore Reserves statement are estimates only and not precise calculations, therefore appropriate rounding according to JORC guidelines has been applied.
The Mineral Resource and Ore Reserve tables on this page provide a detailed breakdown of the estimates, which have been prepared according to the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code, 2012 Edition).
To download the current Ore Reserve and Mineral Resource statement please click here