LETTERS COMPRESSED AIR DEVICE A Perennial Problem

Since efforts in the late 1970s and early 1980s to seek adherence to standard definitions of “proved, probable, and possible,” the clarity of reporting on reserves by companies with active mines has improved admirably. In contrast, the juniors have continued to come up with imaginative ways of describing what they have found, before mineable reserves have been properly established.

Claims such as having a million ounces of gold in the ground may be mixtures of hard information, hope, and (perhaps, in some cases, dare we say it?) hype, at stages where assessments of mineability are yet to be done. Descriptions of promising deposits before reserves have been blocked out will unavoidably leave unanswered questions. It is not this kind of vague description that is new. What makes the difference is the proliferation of active juniors coming up with finds interesting enough to write home about. J. Zwartendyk, Director, Resource Evaluation Division, Energy, Mines and Resources Canada

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