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Glossary of Terms

Ag - chemical symbol for silver

Agglomeration - A method of concentrating valuable minerals based on their adhesion properties.

Airborne survey - A survey made from an aircraft to obtain photographs, or measure magnetic properties, radioactivity, etc.

Alteration - changes in the chemical or mineralogical composition of a rock, generally produced by weathering or hydrothermal solutions.

Andesite - a variety of volcanic rock.

Anomalous - value of a given element that is deemed to be above the background or normal value.

Assay - To analyze the proportions of metals in an ore; to test an ore or mineral for composition, purity, weight, or other properties of commercial interest.

Au - chemical symbol for gold

Average Grade - Percent of amount of ore found on average in a deposit. Copper is typically expressed as a percentage per tonne, while gold grades are denoted as percentage grams per tonne.

Backfill - Waste material used to fill the void created by mining an orebody.

Ball Mill - A Ball Mill is industrial equipment utilized in the grinding circuit of ore processing. Grinding is conducted using steel balls which crush the ore feed. This technology will be used in the primary and secondary crushing stages at the Ajax Project. A ball mill is an industrial machine containing steel alloy balls in large diameter drum tumblers. Ore, mixed with water, is passed through the ball mill where the balls pulverize the ore by tumbling onto the ore as the mill rotates.

Base metal - non-ferrous, non-precious metal, including copper, lead and zinc.

Bench - Horizontal steps/increments mined as an open pit progresses deeper.

Blasthole - A drill hole in a mine that is filled with explosives in order to blast loose a quantity of rock.

By-product - A secondary metal or mineral product recovered in the milling process such as copper and silver.

Capitalization - A financial term used to describe the value financial markets put on a company. Determined by multiplying the number of outstanding shares of a company by the current stock price.

Chalcopyrite - A sulphide mineral of copper and iron; the most important indicator mineral for copper / gold mineralization.

Clay - A fine-grained material mostly composed of phyllosilicate minerals and containing variable amounts of water trapped in the mineral structure.

Concentrate - A very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated.

Contained ounces - Represents ounces in the ground before reduction of ounces not able to be recovered by the applicable metallurgical process.

Core Drilling - The process of obtaining cylindrical rock samples by means of annular-shaped rock-cutting bits rotated by a borehole-drilling machine.

Core sample - A cylinder sample generally 1-5" in diameter drilled out of an area to determine the geologic and chemical analysis of the overburden and coal.

Cu - chemical symbol for copper.

Cyanidation - A method of extracting gold, copper or silver by dissolving it in a weak cyanide solution.

Deposit - an anomalous occurrence of a specific mineral or minerals within the Earth's crust.

Diamond drill - A rotary type of rock drill that cuts a core of rock that is recovered in long cylindrical sections, two centimeters or more in diameter.

Diamond drilling - drilling method which obtains a cylindrical core of rock by drilling with an annular bit set with diamonds.

Dilution - The effect of waste or low-grade ore being included unavoidably in the mined ore, lowering the recovered grade.

Dip - inclination of a geological feature/rock from the horizontal (perpendicular to strike).

Disseminated - fine grained material scattered quite evenly throughout the rock.

Dorè - unrefined gold, usually in bar form and consisting primarily of gold with smaller amounts of other base metals, which will be further refined to high purity gold bullion.

Drill Core Logging - the process of recording geological observations of drill core either on paper or on computer disk

Drillhole Collar - identification post indicating past drill holes. Information about the hole will be indicated by a tag and will generally include: drillhole identification number (drilling log), location, depth, azimuth, and dip).

Electromagnetic Survey - a geophysical survey method which measures the electromagnetic properties of rocks.

Exploration - Prospecting, sampling, mapping, diamond-drilling and other work involved in searching for ore.

Exploration Geophysics - the applied branch of geophysics which employs various methods to measure the physical properties of the earth's subsurface, in order to detect or infer the presence and position of valuable minerals, hydrocarbons, geothermal reservoirs, groundwater reservoirs, and other geological structures. Seismic, gravitational, magnetic, electrical and electromagnetic methods are often employed.

Fault - a fracture in a rock along which there has been relative displacement.

Feasibility study - a detailed study of the economics of a project based on technical calculations and specific mine parameters to justify a decision on construction.

Fire assay - assaying method commonly used for the determination of precious metal content.

Fixed Assets - Possessions such as buildings, machinery and land that are unlikely to be converted into cash during the normal business cycle.

Flotation - A milling process in which valuable mineral particles become attached to bubbles and float as others sink.

Footwall - the underlying side of a fault, ore body or mine working

g - gram

Gangue - Non-profitable minerals in an ore deposit, often associated with the host rock.

Geochemical prospecting - technique, which measures the content of specific metals in soils and rocks, geochemical sampling defines anomalies for further testing.

Geophysical prospecting - technique which measures the physical properties (chargeability, resistivity, magnetism etc) of rocks and define anomalies for further testing.

Geotechnical - diamond drilling targeted and utilized specifically for the collection of information used for mine stability purposes.

Grade - The amount of metal in each tonne of ore, expressed as troy ounces per tonne or grams per tonne for precious metals and as a percentage for most other metals.
  • Cut-off grade: the minimum metal grade at which an orebody can be economically mined (used in the calculation of ore reserves).
  • Recovered grade: actual metal content of ore determined after processing.
  • Reserve grade: estimated metal content of an orebody, based on reserve calculations.
g/t - unit of grade for precious metals: grams per tonne (= parts per million)

Head Grade - The average grade of ore fed into a mill.

Heap leaching - A process whereby copper or gold is extracted by "heaping" broken ore on sloping impermeable pads and continually applying to the heaps a weak cyanide solution which dissolves the contained copper or gold. The copper or gold laden solution is then collected for copper or gold recovery and recycled to the heaps.

High grade - Rich ore. Refers to selective mining of the best ore in a deposit.

Hydrothermal - the name given to geological processes associated with heated or relating to heat derived from within the Earth, commonly related to igneous intrusions.

Induced Polarization - a method of ground geophysical surveying employing an electrical current to determine indications of mineralization.

In-fill Drilling - any method of drilling intervals between existing holes, used to provide greater geological detail and to help establish reserve estimates.

In-situ - in place.

Intrusion - body of igneous rock that invades older rocks.

LIDAR Survey - Laser Induced Differential Absorption Radar (LIDAR) is a high-resolution digital elevation maps generated by airborne Lidar have led to significant advances in the ability to detect subtle topographic features. Very precise topographical map data is created through Lidar surveys.

Magnetometer - geophysical instrument used to measure the magnetic attraction of underlying rocks.

Massive sulphide - relatively dense, fine grained, sometimes bedded, sulphide mineralization, commonly lens-shaped and stratiform, i.e. restricted to a particular geologic horizon

Metallurgy - The study of extracting metals from their ores.

Metallurgical test - studies pertaining to the production, purification and properties of metals and their extraction

Mill - A processing plant in which ore is treated and metals are recovered or prepared for smelting; can also include equipment for grinding ores in preparation for floatation.

Milling Ore - Ore that contains sufficient valuable mineral to be treated by milling process.

Mineral Reserves & Resources

Standard - Proven and Probable Mineral Reserves and Measured, Indicated and Inferred Mineral Resources have been estimated in accordance with the definitions of these terms adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") in November 2005 and incorporated in National Instrument 43-101, "Standards of Disclosure for Mineral Projects" ("NI 43-101"), by Canadian securities regulatory authorities. Mineral Resources are reported separately from and do not include that portion of the Mineral Resources that is classified as Mineral Reserves. That portion of Mineral Resource which is not classified as Mineral Reserve does not have demonstrated economic value.

Definitions - The CIM Definition standards on Mineral Resources and Mineral Reserves provide as follows:

A Mineral Resource is a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals and industrial minerals 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.
An Inferred Mineral Resource is 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.
An Indicated Mineral Resource is 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.
A Measured Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and 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.
A Mineral Reserve is 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.
A Probable Mineral Reserve is the economically mineable part of an Indicated and, in some circumstances, 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 can be justified.
A Proven Mineral Reserve is 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.
Mineralized material - Mineralized material is the projection of mineralization in rock based on geological evidence and assumed continuity. It may or may not be supported by sampling but is supported by geological, geochemical, geophysical or other data. This material may or may not have economically recoverable mineralization.

Mineable reserves - Ore reserves that are known to be extractable using a given mining plan.

Net Smelter Return (NSR) - the net revenues generated from the sale of metal produced by a mine.

Open pit - A mine where the minerals are mined entirely from the surface. Also referred to as open-cut or open-cast mine.

Ore - Rock, generally containing metallic and non-metallic minerals that can be mined and processed at a profit.

Orebody - A sufficiently large amount of ore that can be mined economically.

Ounces - Troy ounces of a fineness of 999.9 parts per 1,000 parts.

Oxidized - a soft, weathered rock having undergone a chemical reaction with oxygen by oxidation of such elements as sulphur, iron and carbon.

Oxide ore - Mineralized rock in which some of the original minerals have been oxidized. Oxidation tends to make the ore more amenable to cyanide solutions so that minute particles of gold will be readily dissolved.

Porphyry - Any igneous rock in which relatively large crystals, called phenocrysts, are set in a fine-grained groundmass.

Porphyry Copper - A deposit of disseminated copper minerals in or around a large body of intrusive rock.

Processing Plant - A building or group of buildings in which ore crushing and processing is performed.

Reclamation - The process by which lands disturbed as a result of mining activity are reclaimed back to a beneficial land use. Reclamation activity includes the removal of buildings, equipment, machinery and other physical remnants of mining, closure of tailings impoundments, leach pads and other mine features, and contouring, covering and re-vegetation of waste rock piles and other disturbed areas.

Recovery - A term used in process metallurgy to indicate the proportion of valuable material obtained in the processing of an ore. It is generally stated as a percentage of valuable metal in the ore that is recovered compared to the total valuable metal present in the ore.

Refining - The final stage of metal production in which impurities are removed from the molten metal.

Resistivity survey - a geophysical technique used to measure the resistance of a rock formation to an electric current.

Royalty - An amount of money paid at regular intervals by the lessee or operator of an exploration or mining property to the owner of the ground. Generally, it will be based on a certain amount per tonne or a percentage of the total production or profits. Also, the fee paid for the right to use a patented process.

Sample - a small portion of rock or a mineral deposit taken so that the metal content can be determined by assaying. This term can also be applied to environmental monitoring as samples are taken to establish baseline studies as well as to observe over time.

Semi-Autogenous Grinding (SAG) - A method of grinding rock into fine powder whereby the grinding media consist of larger chunks of rocks and steel balls.

Skarn - Name for the metamorphic rocks surrounding an igneous intrusive where it comes in contact with a limestone or dolostone formation.

Stockpile - Broken ore heaped on surface, pending treatment or shipment.

Strike length - The longest horizontal dimension of an orebody or zone of mineralization.

Strip - To remove the overburden or waste rock overlying an orebody in preparation for mining by open pit methods.

Stripping Ratio - The ratio of tonnes removed as waste relative to the number of tonnes of ore removed from an open-pit mine.

Sulphide - metalliferous minerals formed with sulphur and often iron.

Stockpile - Broken ore heaped on surface or prepared areas underground, pending treatment or shipment.

Tailings - The material that remains after all economically and technically recoverable precious metals have been removed from the ore during processing.

Tailings Pond - Facility used to confine tailing runoff or leached effluents permitting heavy metals to settle out before water is processed and discharged.

Trenching - a means of exposing and sampling near-surface geology by digging a trench.

Vein - A fissure, fault or crack in a rock filled by minerals that have traveled upwards from some deep source.

Volcanic - pertaining to igneous rocks which have been erupted from volcanoes.

Waste - Rock that is contains no, or non-economical, amounts of minerals.

Weathering - degradation of rocks at the Earth's surface by climatic forces.  

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