Key terminology Flashcards
Define mineral
A solid or naturally occurring inorganic substance
Define resource
ALL the material in earths surface that can be extracted economically
Define sedimentary rock
(example x2)
Rock formed through the process of deposition and solidification of sediments
E.g - chalk and sandstone
Define metamorphic rock
(example x2)
Rock that started out as another rock type but has substantially changed by heat and pressure caused by plate tectonics
E.g - limestone to marble and shale to slate
Define reserve
The amount of resources we can extract that is economically viable (exploit it at a profit)
Define igneous rock
rock that is formed by the cooling and solidifying of molten magma or lava
E.g - Basalt and granite
Define stock
Stock includes all the material that exists in the lithosphere. It includes material extracted at a profit, extracted at a loss and material that may never be extracted
Explain what a probable reserve is
Sufficient amount of info about the reserve is known so that further exploration can be justified. An estimation of the reserve is still made
Explain what a proven reserve is
Sufficient exploration has been carried out to accurately estimate the amount of the mineral that can be economically extracted
Explain what an inferred reserve is
Presence of a mineral can be predicted from knowledge of geological structures present but not enough is known to estimate the amount
Explain the difference between a resource and a reserve
A resource is all the material in earth surface that can be extracted where as a reserve is all the material in earths surface that can be exploited that is economically viable
Define cut-off-ore grade (COOG)
The lowest ore purity that can be mined economically, using existing technology
