Glossary of Terms
Definitions of mining, geological and financial terms
- Assay
- A chemical test performed on a sample of ores or minerals to determine the amount of valuable metals contained.
- Bornite
- A copper iron sulfide mineral (Cu₅FeS₄) with a metallic luster and iridescent tarnish; an important ore of copper.
- Chalcopyrite
- A copper iron sulfide mineral (CuFeS₂) and the most abundant copper ore mineral.
- Chrysocolla
- A hydrated copper silicate mineral commonly found in oxidized copper deposits.
- Cu
- Chemical symbol for copper.
- Cut-off Grade
- The lowest grade of mineralized material that qualifies as ore in a given deposit, used in the calculation of mineral resources.
- DDH
- Diamond Drill Hole — a core drilling method using a diamond-impregnated drill bit.
- Feasibility Study
- A comprehensive technical and economic study of a mineral project that evaluates all geological, engineering, environmental, legal, operating, social and financial aspects.
- g/t
- Grams per tonne — a standard unit for measuring precious metal concentrations.
- ha
- Hectares — a unit of area equal to 10,000 square metres or approximately 2.471 acres.
- Indicated Mineral Resource
- That part of a mineral resource for which quantity, grade, densities, shape and physical characteristics can be estimated with a reasonable level of confidence.
- Inferred Mineral Resource
- That part of a mineral resource for which quantity and grade can be estimated on the basis of geological evidence and limited sampling and reasonably assumed geological and grade continuity.
- IRR
- Internal Rate of Return — the discount rate that makes the net present value of all cash flows equal to zero.
- ISCR
- In-Situ Copper Recovery — a mining method that recovers copper by injecting a leaching solution into a deposit and pumping out the copper-bearing solution.
- LOM
- Life of Mine — the estimated duration of mining operations at a project.
- Measured Mineral Resource
- That part of a mineral resource for which quantity, grade, densities, shape and physical characteristics are estimated with a high level of confidence.
- Mineral Reserve
- The economically mineable part of a Measured or Indicated Mineral Resource, as demonstrated by a preliminary feasibility study or feasibility study.
- Mineral Resource
- A concentration of naturally occurring material in or on the Earth's crust in such form and quantity that extraction is potentially feasible.
- Mo
- Chemical symbol for molybdenum.
- MRE
- Mineral Resource Estimate — a technical evaluation of the tonnage and grade of a mineral deposit.
- NI 43-101
- National Instrument 43-101 — a Canadian securities regulation that governs public disclosure of scientific and technical information about mineral projects.
- NPV
- Net Present Value — the present value of future cash flows minus the initial investment.
- NSR
- Net Smelter Return — a royalty calculated as a percentage of the revenue from the sale of minerals after deducting smelting and refining costs.
- oz
- Troy ounce — a unit of measure for precious metals (approximately 31.1 grams).
- PEA
- Preliminary Economic Assessment — an early-stage economic analysis of a mining project that may include inferred mineral resources.
- PFS
- Prefeasibility Study — an intermediate-level study that provides a more detailed analysis of the economic viability of a project than a PEA.
- Porphyry
- A type of igneous rock with large crystals in a fine-grained matrix. Porphyry copper deposits are large, low- to medium-grade copper deposits formed in association with porphyritic intrusive rocks.
- SX/EW
- Solvent Extraction / Electrowinning — a hydrometallurgical process used to recover copper from leach solutions.