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___mining Iaws > 2020 Philippine Mineral Reporting Code > Flashcards

2020 Philippine Mineral Reporting Code Flashcards

1
Q

PMRC full title

A

Philippine Mineral Reporting
Code for Reporting of Exploration Results, Mineral Resources, and Mineral Reserves

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2
Q

PMRC is of what edition?

A

2020

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3
Q

what does NRO mean?

A

National Reporting Organization

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4
Q

when was the latest NRO formed?

A

November 22, 2018

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5
Q

how many parent organization does NRO have?

A

3

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6
Q

three parent organization for NRO

A

-Geological Society of the Philippines
-Society of Metallurgical Engineers of the Philippines
-Philippine Society of Mining Engineers

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7
Q

while the Associate Organizations are:

A
  1. Philippine Stock Exchange
  2. Chamber of Mines of the Philippines
  3. Philippine Mining and Exploration Association
  4. Philippine Chamber of Coal Mines
  5. Philippine Australia Business Council
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8
Q

is a private non
profit and non stock
organization created to provide and
maintain a fair, efficient, transparent and
orderly market for the purchase and sale
of securities such as stocks, shares, and
others.

A

Philippine Stock Exchange

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9
Q

Have jurisdiction and supervision over all
corporations, partnerships or associations who
are the grantees of primary franchises and/or a
license or permit issued by the Government

A

Security and Exchange Commissions

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10
Q

the PMRC committee is composed of:

A

katong parent orgs and association orgs

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11
Q

purpose of PMRC

A
  1. sets out minimum standards,
    recommendations, and guidelines for Public Reporting in the Philippines of: Exploration Results, Mineral Resources, and Mineral Reserves
  2. formulated to set minimum standards
    for Public Reporting that are
    compatible with global standards; modeled substantially after:______
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12
Q

Public Reports are modeled substantially after:

A

-International Reporting Template (2019) of the Committee of Mineral
Reserves International Reporting Standards (CRISCO)

-Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) of the Australian Joint Ore Reserves Committee (JORC)

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13
Q

also known as JORC Code

A

Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves of the Australian Joint Ore Reserves Committee

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14
Q

JORC means:

A

Joint Ore Reserves Committee

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15
Q

CRISCO means

A

Committee of Mineral
Reserves International Reporting Standards

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16
Q

Principles of PMRC

A

Transparency
Materiality
Competence

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17
Q

Scope of the PMRC

A

The PMRC 2020 Edition applies to all solid mineral raw materials for which Public Reporting of
Exploration Results, Mineral
Resources, and Mineral Reserves is required by any relevant regulatory authority

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18
Q

the 2020 PMRC applies to all:

A

solid raw materials

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19
Q

16 standard definitions

A
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20
Q

16 standard definitions of PMRC is adopted from

A

(adopted from CRISCO 2019

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21
Q

Mineral

A

-Metalliferous minerals
-Mineralize fills, remnants, pillars
- Industrial minerals
- Dimension stone
-other raw mineral material

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22
Q

reports prepared for the purpose of informing
investors or potential investors and their
advisers on Exploration Results, Mineral
Resources or Mineral Reserves.

A

Public Reports

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23
Q

Public reports include but are not limited to:

A

-annual and quarterly company reports
-media releases
-information memoranda
-technical papers
-website postings
-public presentations
-corporate disclosures
required to be submitted to both the SEC and
PSE

24
Q

what does ACP mean?

A

Accredited Competent Person

25
Q

an ACP must be a member or fellow of:

A

PSME, GSP, SMEP

26
Q

t or f: each organization has an individual ACP

A

T

27
Q

an ACP must have a minimum of _______ relevant
experience in the style of ________ or
_______________
and to the activity which that person is undertaking

A

five years; mineralization; mineral deposit under consideration

28
Q

Illustrate general relationship between Exploration Results, Mineral Resources, and Mineral Reserves

A
29
Q

Modifying Factors

A

mining, processing, metallurgical, economic, marketing, legal, environmental, infrastructure, social, and governmental factors

30
Q

a statement or estimate of the exploration
potential of a mineral deposit in a defined
geological setting

A

exploration target

31
Q

exploration target must specifically discuss:

A

geological setting, the exploration strategy, and
exploration activity already completed and the
presence of or lack of the following attributes:

*mineralized outcrops and assays,
*surface geochemical sampling results,
*surface and subsurface geophysical survey
results, and
*drill holes, test pits, and underground workings.

32
Q

include data and information generated by
mineral exploration programs that might be of
use to investors, but which do not form part of a
declaration of Mineral Resources or Mineral
Reserves

A

Exploration Results

33
Q

Exploration Results do not form part of a declaration of:

A

Mineral Resources or Mineral Reserves

34
Q

Examples of Exploration Results include :

A

results of:

outcrop sampling
assays of drill hole intercepts
geochemical results
geophysical survey results

35
Q

a concentration or occurrence of solid material
of economic interest in or on the Earth’s crust in such form, grade (or quality ), and quantity that there are reasonable prospects for
eventual economic extraction.

A

mineral resources

36
Q

Mineral resources are defined by their:

A

quantity
grade (quality)
continuity
form

37
Q

Mineral Resources are subdivided, in order of
increasing geological confidence:

A

Inferred
Indicated
Measured

38
Q

is that part of a Mineral Resource for which
quantity and grade (or quality) are estimated
on the basis of limited geological evidence
and sampling.

A

Inferred Mineral Resource

39
Q

Geological evidence of inferred mineral resources is
sufficient to imply but not verify _______________

A

geological and grade (quality) continuity

40
Q

inferred mineral resources is based on:

A

exploration , sampling, and
testing information gathered through
appropriate techniques

41
Q

appropriate locations for sampling

A

outcrops, trenches, pits, workings , and drill
holes.

42
Q

is that part of a Mineral Resource for which
quantity , grade (or quality), densities, shape,
and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the mineral deposit.

A

Indicated Mineral Resource

43
Q

allow application of Modifying Factors

A

Indicated and Measured Mineral Resources

44
Q

is that part of a Mineral Resource for which quantity , grade (or quality), densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support
detailed mine planning and final evaluation of
the economic viability of the mineral deposit.

A

Measured Mineral Resource

45
Q

is the economically mineable part of a Measured and/or Indicated Mineral Resource.

A

Mineral Reserve

46
Q

Mineral Reserves include

A

It includes diluting materials and allowances for losses

47
Q

Mineral Reserves is defined
by studies at ________ or ________ level as ________ that include application of
__________.

A

Pre-Feasibility or Feasibility; appropriate; Modifying Factors

48
Q

Mineral Reserves are subdivided in order of
increasing confidence into

A

Probable Mineral
Reserves and Proved Mineral Reserves

49
Q

is the economically mineable part of an indicated and sometimes measured mineral resources

A

probable mineral reserve

50
Q

is the economically mineable part of the measured mineral resource

A

proved mineral reserve

51
Q

represents the highest confidence category of reserve estimate

A

proved

52
Q

technical studies include

A

scoping
pre-feasibility
feasibility

53
Q

a comprehensive study of a range of options for
the technical and economic viability of a mineral
project that has advanced to a stage where a
preferred mining method, underground or
surface , has been established and an effective
method of mineral processing has been
determined. It includes a financial analysis
based on reasonable assumptions on the
Modifying Factors.

A

Pre-feasibility study

54
Q

a comprehensive technical and economic
study of the selected development option for
a mineral project that includes appropriately
detailed assessment of applicable Modifying
Factors together with detailed financial
analysis.

A

Feasibility study

55
Q

The results of this study may reasonably
serve as the basis for a final decision by a
proponent or financial institution to proceed
with, or finance, the development of the
project.

A

Feasibility Study

56
Q

Sustainability considerations:

Public reports should include:

A

Environmental, social, and health and safety impacts during development and operation and their corresponding mitigation

___mining Iaws (11 decks)

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