Replies to post #5578 on Comstock Inc (LODE)

[ThSeeker]

National Instrument 43-101 (NI 43-101) is a mineral resource classification and is a national instrument for the Standards of Disclosure for Mineral Projects with the Canadian Securities Administrators. The NI is a strict guideline for how public Canadian companies can disclose scientific and technical information about mineral projects. Disclosures include press releases, presentations, oral comments, and websites.

The instrument requires that a "qualified person" be attributed to the information. A qualified person is defined as:

an engineer or geoscientist with at least 5 years experience in the mineral resources field
a subject matter expert in the mineral resources field and has a professional association

[ThSeeker]

allchipin
We had one on the resources. Less detailed than the next one.
We should one in August on the Reserves. Should be very detailed and include the full plan on mining those resources. It will be a very big deal IMO for the price of GSPG.

[ThSeeker]

Education - mining terms important to Gold Spring's PRs

For Gold Spring:
43-101 resource report released
43-101 Reserve report due in August
(this will be significant for the price/share)

http://www.insidemetals.com/index.php?view=mining_glossary

some important terms used in GSPG PR's

Cut-Off Grade – A grade level below which the material is not “ore” and considered to be uneconomical to mine and process. The minimum grade of ore used to establish reserves.



Mineral Resources and Mineral Reserves Definitions are as set out in the Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves Definitions and Guidelines (the “CIM Standards”) adopted by the CIM Council on August 20, 2000:



Mineral Resource – a concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.



Inferred Mineral Resource – that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.



Indicated Mineral Resource – that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.



Measured Mineral Resource – that part of a Mineral Resource for which quantity, grade or quality, densities, shape, physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate 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 that are spaced closely enough to confirm both geological and grade continuity.



Mineral Reserve – the economically mineable part of a Measured or Indicated 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. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined.



Probable Mineral Reserve – the economically mineable part of an Indicated, and in some circumstances a Measured Mineral Resource demonstrated by at lease 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 Reserve – 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.