Technical Reports

Technical reports are the moment of truth for a junior mining company. Confusion is avoided by having only one current report, and only one associated with a property.

Consultants chosen by the company for this purpose must be unbiased observers and are referred to as Qualified Persons. Mistakes in either direction imperil far more than the project and as a consequence reputation in technical reporting is a title of distinction.

Reports are released corresponding to stage of development between the initial prospect and the proposed mine with each consecutive release detailing an expanded resource with a greater degree of certainty. The title applied to all technical reports is National Instrument 43-101. Under this heading is included the Preliminary Economic Assessment, the Pre Feasibility Study, and the Feasibility Study. Each of these would be considered a type of technical report that would follow in a sequential order.

Reports at a minimum must cover certain key sections:

Location: Any relevant maps consulted in the report will be placed toward the front. A map of land claims, adjacent properties, and priority infrastructure will all be included.

License: A mine requires an expansive list of permits, agreements, and studies to become operational. Royalty agreements, Taxes to local government, and community relations are all negotiated from the outset. A company is advantaged by holding more permits and enjoying positive relations with stakeholders which together expedite development.

Geology: The regional geology is often well understood and the report can cite existing research. Local geology on the property will use samples and other test work to identify possible trends and areas of potential discovery.

History: Attractive properties in a prolific mineral district often have historical documents. Past exploration data and the development plan for any mining will be useful to the current owners.

Interpretation: Consultants limit their analysis to the end of the document. What they want to understand is where the highest grade of material will be found, and in which mineralized structures. They consider the amount of exploration data compiled in the database, and what degree of confidence can be had. Important to this section is the uncertainties identified and the risk to the viability of the project.

Recommendations: There is a limited range of options available to mining companies based on their available funding and what their current data shows. An experienced consultant will be mindful when producing cost estimates for their list of steps required to advance the project. Whatever the resource estimate currently states the objective will be to further define and expand where possible.

Appendix: Any maps, charts, images or other figures that did not fit in with the rest of the report will be here. Current best practices emphasize a reduced appendix page count to better clarify reporting.

References: If sufficient data is available the consultants will have citations from reports used, and likely any discussion they had with relevant experts. Site visits will be documented and so will their method and approach to reporting.