- Mining FAQ for Non-Geologists
Q: What does “12m at 3.5 g/t Au from 85m” mean?
A: Gold at 3.5 grams per tonne over a 12-metre drill core section, starting at 85m depth. GT = 3.5 × 12 = 42.
Q: Is higher grade always better?
A: Not always. A narrow high-grade vein may contain less total metal than a wide moderate-grade zone. Grade must be read alongside width. GT captures this.
Q: What is the difference between a resource and a reserve?
A: A resource is a geologically defined estimate. A reserve is the economically mineable portion after accounting for mining, processing, and economic factors. Reserves require higher engineering confidence.
Q: Why do some drill results say “including”?
A: A higher-grade zone within a broader intercept. Example: “40m at 1.5 g/t Au including 8m at 6.2 g/t Au.” The 8m is the high-grade core.
Q: What does “assay” mean?
A: Chemical analysis of drill core or rock samples by an accredited lab to determine metal concentration.
Q: What is a “competent person” or “qualified person”?
A: A geologist or mining engineer with 5+ years’ relevant experience who takes legal responsibility for technical disclosures under JORC (CP) or NI 43-101 (QP).
Q: How long from discovery to a producing mine?
A: Typically 7–15 years. Minestarters vaults focus on the early stages where the discovery premium offers the most significant value uplift.
Q: What is “true width” vs. “apparent width”?
A: Apparent width = length along the drill hole. True width = actual perpendicular thickness of the mineralised zone. If the drill intersects at an angle, apparent width overstates true width.
Q: What does “in-situ” mean?
A: “In place.” An in-situ value is the theoretical value of metal in the ground before extraction costs. A gross value, not net economic.
Q: Why does deposit type matter for grades?
A: Different deposits have different grade distributions. 0.5% Cu is excellent in a porphyry but mediocre in a VMS. The Quality Badge Matrix adjusts thresholds by deposit type.
Q: What is a PEA, PFS, and DFS?
A: Engineering studies at increasing detail. PEA = first economic evaluation. PFS = more detailed, uses indicated resources. DFS = final bankable study used to secure project financing