Greg Corbett and Stuart Hayward are presenting their popular epithermal Au-Ag and Porphyry Cu-Au Exploration short course, 14-16 May 2019.
May 14 & 15, Chatswood Club, 11 Help Chatswood, NSW (5 mins walk from Chatswood train station) lunch, morning and afternoon teas provided. Two days of PowerPoint lectures focus upon mineral exploration for epithermal and porphyry ore deposits derived from Dr Corbett’s 40 years field experience, including earlier short courses provided with the late Terry Leach from the early 1990’s. Exploration and mining examples from over 40 countries are used to delineate the characteristics of different epithermal and porphyry ore types, and controls to mineralisation, using tools such as alteration, structure and breccias. A final section considers geological features recognised in exploration marginal to ore bodies. Participants will be provided with a current draft of the new short course notes. Drafts of the first few chapters are available here.
May 16 – A practical exercise held at the W B Clarke Geoscience Centre, Londonderry, uses diamond drill core referred to in the lectures (above) and a set of teaching specimens to provide hands on training in ore and alteration mineralogy and the use of geological models. Greg is helped by and Stuart Hayward, who has over 30 years experience in epithermal-porphyry ore deposit exploration and mining. Return bus from Chatswood and lunch provided.
Registration includes handouts, lunch, morning and afternoon teas and transport to and from Londonderry. Minimum of 20 participants required and limited to a maximum of 40.
Students from $150 + GST but if you need assistance contact Greg Corbett
Unemployed geologists from $400 + GST
Employed geologists from $1500 + GST
Follow the link to download the short course registration form.
Updated regulations to allow U.S. mining and exploration companies to report mineral resources resources. Competent person requirements also feature in the new rules for the first time.
In October, the U.S. Securities and Exchange Commission (SEC) adopted a final rule that overhauls its existing disclosure requirements for mining company issuers. This represents the first major change since Guide 7 was adopted almost 30 years ago and brings the U.S. into line with countries following CRIRSCO reporting codes. U.S. companies will be required to begin to comply with the new rules in its first fiscal year beginning on or after Jan. 1, 2021.
Under the current SEC reporting rules, mining companies are not permitted to disclose mineral resources. In Canada, Australia, South Africa and other countries, companies have been required to disclose resources where it would be material information for investors.
Dual listed companies will benefit from decreased compliance costs. Previously, companies listed in the U.S.A. and a country following the CRIRSCO convention for mineral resource and ore reserve reporting were compelled to produce different annual reports and other public disclosure documents dealing with resources and reserves for different markets. U.S. exploration companies should find that the new rules assist with raising funds for exploration in the U.S.A. rather than having to resort to listing on overseas markets, including the TSX, TSX.V and ASX.
U.S. companies that are only subject to the SEC rules, may experience increased compliance costs because of the new requirement to disclose mineral resources and have statements of resources and reserves prepared by a qualified person. Canadian companies that are dual-listed in the US and Canada, have been allowed to comply with Canadian rules (NI 43-101) so are unlikely to be affected by the change.
The SEC announcement included some important provisions.
Geothermal energy is specifically excluded from the new rules.
A principles-based definition of materiality, consistent with Securities Act Rule 405 and Exchange Act Rule 12b-2, was adopted by the commission, whereby a matter is material if there is a substantial likelihood that a reasonable investor would attach importance to it in determining whether to buy or sell securities. The commission also proposed that a company should follow an approach requiring aggregation of all mining properties, regardless of size or type of commodity produced, when assessing the materiality of a registrant’s mining operations.
The commission also adopted a definition of mining operations that includes operations on all mining properties that:
- a company owns or in which it has, or it is probable that it will have, a direct or indirect economic interest;
- possesses, or lis likely to possess under a lease or other legal agreement, a right to sell or otherwise dispose of mineral products; or,
- has, or probably has, an associated royalty or similar right.
The commission also requires that companies materially disclose the basis for setting forward prices for commodities which form an essential component of asset valuation and, therefore, asset materiality. Companies may not exceed the average price for the preceding 24 months. Beyond this, however, qualified persons may use any reasonable and justifiable price, with transparent justification.
The new rules permit a mineral resources to be disclosed inclusive of mineral reserves, as long as mineral resources exclusive of reserves are also stated. This rule is more specific than current requirements of some other reporting codes, including the JORC Code (2012).
Inferred resources are also able to be used in economic analysis, as long as certain conditions are met.
The new rules adhere to the CRIRSCO convention where a public report about a company’s exploration results, mineral resources, and mineral reserves must be based on and fairly reflect information and supporting documentation prepared by a “competent” or “qualified person.” This is the first time that the commission has defined a role for competent persons which may be both individuals, or companies employing individuals responsible for preparing reports.
A “qualified person” is defined as a “mineral industry professional with at least five years of relevant experience in the type of mineralization and type of deposit under consideration and in the specific type of activity that person is undertaking”. Additionally, qualified persons must be “an eligible member or licensee in good standing of a recognised professional organisation at the time the technical report is prepared”. These requirements effectively mirror those of the JORC Code (2012).
The new rules allow multiple qualified persons to prepare a technical report provided the sections of the report for which individuals are responsible are clearly specified, signed dated and consented to by each individual.
Reports must include a consent statement from the qualified person, state whether the qualified person is an employee of the company and, if not an employee, what relationship or interests the qualified person may have in the company.
The rules specifically indemnify the qualified person from findings and conclusions regarding certain aspects of modifying factors discussed in technical reports that the qualified person specifically states were based on information provided by the company – another first and an important legal protection for individuals or groups acting as qualified persons.
A “recognised professional organisation” would have to be either recognised within the mining industry as a reputable professional association, or be a board authorised by U.S. federal, state or foreign statute to regulate professionals in the mining, geoscience, or related field.
Furthermore, the organization must:
- Admit eligible members primarily on the basis of their academic qualifications and experience;
- Establish and require compliance with professional standards of competence and ethics;
- Require or encourage continuing professional development;
- Have and apply disciplinary powers, including the power to suspend or expel a member regardless of where the member practices or resides; and,
- Provide a public list of members in good standing.
The commission has elected, however, to adopt a principles-based approach to professional organisation recognition rather than the approach adopted by existing CRIRSCO codes of publishing a list of Recognised Overseas Professional Organisations (ROPO) updated by organisations responsible for reporting standards in individual countries from time to time. AIG is considered to fully meet the commissions requirements of a recognised professional organisation, supported by it being recognised in all current jurisdictions where CRIRSCO template reporting codes are in use.
AIG welcomes the SEC announcement which brings the U.S.A. closer to countries with effective, transparent and material codes for exploration result, mineral resource and ore reserve reporting that provide informed investors with a basis for sound mineral asset investment decisions. The new rules also provide an opportunity for Australian geoscientists, experienced in the application of the JORC Code and Canada’s National Instrument NI 43-101, to share their knowledge and experience with their U.S. counterparts.
The SEC release announcing the new rules is available here.
Are you heading to Vancouver for Mineral Exploration Roundup in January 2019? Edumine are running a Mineral Deposit Evaluation in just prior to Roundup.
The course is for professionals with a basic understanding of mineral resource estimation and linear geostatistics. Over the four days, participants will learn about:
- the mining project development cycle and studies that are carried out at different stages of the cycle (e.g. conceptual, pre-feasibility, and feasibility studies);
- the fundamental concepts of controls of mineralization and the different styles of mineralization;
- the importance of assay and geology field data quality and understanding of data through exploratory data analyses;
- interpolation techniques, with focus on the kriging technique; and
- resource classification and validation of resource estimation and reporting.
Participants will also learn about software tools used in resource estimation. Participants are encouraged to bring their laptop computers loaded with their preferred software application.
This is a highly interactive course where participants are encouraged to learn through discussion, group tasks, and quizzes.
At the end of the course, participants will have learned the procedures and best practices used in resource estimation, classification, and reporting mineral resources as per international guidelines.
More details regarding the course are available here. AIG members receive a 10% discount on registration fees for this course.
A geological conference with a session in honour of Dr Roger Taylor, Atherton Tablelands, Queensland, Australia 24 – 28 June 2019
The conference convenors invite extended abstracts on topics related to the setting, genesis and characteristics of Sn-W-Critical Metal mineralisation. Information on abstract submission is available here.
Submission Opens: Tuesday 20th November 2018
Submission Closes: Thursday 28th February 2019
Notification: Friday 22nd March 2019
Monday 24th June: Welcome function
Tuesday 25th – Thursday 25thJune: Technical Presentations
(includes half-day trip to the historical tin mining town of Herberton)
Friday 28th June: Optional one-day field trip (details TBA)
The program of technical presentations will include world-class researchers in the field, including:
- Prof. Rolf Romer (GFZ, Potsdam,Germany)
- Prof. Jingwen Mao (Chinese Academy of Geological Sciences, Beijing,China)
- Prof. Shao-Yong Jiang (China University of Geosciences, Wuhan, China)
- Prof. Ryan Mathur (Juniata College, Huntingdon, Pennsylvania, USA)
- Dr Phillip Blevin (Mineral Systems, Geological Survey of NSW, Maitland, Australia)
- Prof. Zhaoshan Chang (Colorado School of Mines, Denver, USA)
- Prof. David Cooke (CODES, Hobart, University of Tasmania)
- Dr Peter Pollard (Pollard Geological Services, Brisbane, Australia)
- Dr Yanbo Cheng (EGRU, James Cook University, Townsville, Australia)
EGRU warmly welcomes academic, industry and government colleagues, to join us at the conference in the glorious setting of the Atherton Tablelands in tropical far north Queensland.
For further information please contact the Conference Conveners:
Or contact the EGRU Administration Officer: Judy Botting
Conference web page – click here
EGRU welcomes support from organisations interested in being a part of this timely conference. Information on sponsorship is available here.
PACRIM 2019 will be held in Auckland New Zealand, 3-5 April 2019 by AusIMM with the support of kindred societies and professional institutes.
The theme of the conference will be mineral systems of the Pacific rim.
The preliminary programme for the conference is now available. Check out the different streams and concurrent sessions.
Details of field trips and short courses being held in conjunction with the conference are also now available:
There will be 6 field trips running before, during and after the conference:
- Geology and Mineral Deposits of New Caledonia – View Field Trip.
- Southern South Island Gold Fields – View Field Trip.
- Active and Extinct Epithermal Environments of the North Island – View Field Trip.
- Porphyry and Vein copper-gold Deposits in the Ordovician Macquarie Volcanic Province – View Field Trip.
- Auckland Volcanoes – View Field Trip.
- Rangitoto Island – View Field Trip.
Choose from a series of 8 short courses being held before and after the conference.
- Rapid and Reliable Mineralogy using Spectral Geology and aiSIRIS – View Short Course.
- Phanerozoic Gold in Metamorphic Rocks: Geology and Exploration – View Short Course.
- QA/ QC and Sampling: Practical foundations for good decision-making in resource estimations, metallurgical accounting and exploration – View Short Course.
- Exploration for Skarn Deposits – View Short Course.
- An Introduction to Machine Learning and Data Analytics – View Short Course.
- Porphyry Copper-gold Deposits in the Circum-Pacific and Elsewhere – View Short Course.
- Geology, Genesis and Exploration of Epithermal Ore Deposits – View Short Course.
- Exploration Geochemistry: Applying Fundamentals in the Field – View Short Course.
Head to the PACRIM website for more information on keynote speakers, abstracts submitted and sponsorship and exhibition opportunities.