What is a JORC Code?
What is the JORC Code? The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’) is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.
What is the objective of JORC Code Why do we need the code?
The JORC Code is a Code for Public Reporting not a Code that regulates the manner in which a Competent Person estimates Mineral Resources or Ore Reserves. The term ‘JORC compliant’ therefore refers to the manner of reporting not to the estimates.
Who is on the JORC Committee?
JORC Committee executive members
| Member | Affiliation/Representing | Professional Background |
|---|---|---|
| Steve Hunt, Chairman | MCA | Geologist |
| Peter Stoker, Deputy Chair | AusIMM | Geologist |
| Graham Jeffress | AIG | Geologist |
| Jillian Terry | MCA | Geologist |
What does mineral reserve mean?
A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource.
How do you become a JORC Competent Person?
A Competent Person must have a minimum of five years’ experience working with the style of mineralisation or type of deposit under consideration and relevant to the activity which that person is undertaking.
How the JORC Code affects mining finance?
The JORC Code sets out the minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code is fundamental to the way capital markets work in respect to reporting mineral projects.
What is a Competent Person in mining?
2010-09 of the Department of Environment and Natural Resources (DENR) provides that a Competent Person is a technical or professional expert who must be a Geologist, a Mining Engineer or a Metallurgical Engineer licensed by the PRC; must be a member of good standing of any of the Accredited Professional Organization ( …
What continent has the most gold?
World’s Largest Deposits of Gold The massive deposits of the Witwatersrand mines in South Africa have produced more than 40 percent of the world’s total production of gold.
What is a Competent Person’s report?
A Competent Person’s report is an independent technical and geological-focused report of a project. The aim of a CPR is to provide a responsible, unbiased and independent opinion on the technical aspects of the project, with the ultimate purpose of informing and protecting investors.
What are 5 uses of minerals?
Buildings use a wide range of minerals:
- iron (as steel) in the framework of large building,
- clay in bricks and roofing tiles,
- slate for roofing tiles,
- limestone,
- clay,
- shale and gypsum in cement,
- gypsum in plaster,
- silica sand in window glass,
How do I become a JORC Competent Person?
A Competent Person must have a minimum of five years relevant experience in the style of mineralisation or type of deposit under consideration and in the activity which that person is undertaking. If the Competent Person is preparing documentation on Exploration Results, the relevant experience must be in exploration.
What is an independent Competent Person’s report?
The Socio-Economic Development element requires an Independent Competent Person (ICP) to present an Independent Competent Person’s Report to confirm that the requirements of an organisation’s Socio-Economic Development contributions have been met and that a claim is indeed legitimate.
What are the 3 basic types of rocks?
Earth > If Rocks Could Talk > Three Types of Rock
- Igneous rocks are formed from melted rock deep inside the Earth.
- Sedimentary rocks are formed from layers of sand, silt, dead plants, and animal skeletons.
- Metamorphic rocks formed from other rocks that are changed by heat and pressure underground.
Are there prescribed standards in the JORC Code 2012 for exploration such as spacing or depth of drill holes?
Are there prescribed standards for exploration such as spacing or depth of drill holes? No.