CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines

The CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (MRMR Best Practice Guidelines) were prepared by the Canadian Institute of Mining, Metallurgy and Petroleum's (CIM) Mineral Resources and Mineral Reserves Committee (CIM MRMR Committee) to update an earlier version that was accepted by CIM Council on November 23, 2003 (CIM, 2003). These 2019 MRMR Best Practice Guidelines supersede and replace the November 23, 2003 version of the MRMR Guidelines. These 2019 MRMR Guidelines are not intended to be prescriptive and are not intended to provide detailed and exhaustive instructions for preparation of Mineral Resource and/or Mineral Reserve (MRMR) estimates. Rather, they are intended as general guidance to assist professional geoscientists (or equivalent) and engineers (or equivalent) in preparing high quality estimates of MRMR that incorporate sound geoscientific, engineering, evaluation and design practices. They are based on well-established estimation and mine planning principles and are designed to provide general guidelines of best professional practices employed in the preparation of MRMR estimates. Although the 2019 MRMR Best Practice Guidelines are intended for use by Canadian-based mining/exploration practitioners, many of the concepts and practices presented herein are in general agreement with current industry practices in jurisdictions with membership in the Committee for Mineral Reserves International Reporting Standards (CRIRSCO). For this document, persons preparing MRMR estimates are called Practitioners. Preparation of MRMR estimates should be carried out by Practitioners who either hold the status of Professional Geoscientist (or equivalent) or Professional Engineer (or equivalent), or who prepare the estimates under the supervision of a Professional Geoscientist (or equivalent) or Professional Engineer (or equivalent). For the purposes of this document, all references to reporting describe such necessary reports and related documentation that are created as part of the normal-course work flow of preparing MRMR estimates for internal purposes. For clarity, all public disclosure of MRMR estimates made by, or on behalf of, an issuer and intended to be, or reasonably likely to be, made available to the public in a jurisdiction of Canada must comply with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101), as amended from time to time. At least one Qualified Person (QP) must take responsibility for each part of the estimation process when publicly disclosing the results of MRMR estimates. The intended audience for these 2019 MRMR Best Practice Guidelines includes Practitioners at all levels of skill and experience, government agencies, academic institutions, and the public.