|Projects | Inferred Resources
Substantial progress has been made over the last ten years in the development of uniform national and international standards covering the definition, estimation and public reporting of mineral resources and mineral reserves.
There are 5 recognized categories that describe the earliest stages of exploration to the highest level of confidence about underground resources. These are:
- Inferred Resources
- Measured / Indicated Resources
- Proven / Probable Reserves
Most exploration projects get their start from visible mineralization shown on surface, from tests of stream sediments to airborne surveillance techniques. The project evolves from initial surface sampling to where drilling is utilized to test and confirm the underground mineralized structures.
Inferred Resources are the first level of quantifiable exploration and are still considered speculative geologically to have economic considerations applied to them. Inferred Resources require further exploration to upgrade them to the higher Measured and Indicated categories. Eagle Plains Sphinx project for example, has approximately 20 drill holes providing an Inferred Resource of 62,005,615 tonnes grading 0.035% Mo, using a cut-off grade of 0.01% Mo for a contained metal calculation of 47,844,630 lbs Molybdenum. This project may need anywhere from 200-300 drill holes before it reaches the Measured / Indicated level and a further 100-200 drill holes to attain the Proven / Probable category.