AIG’s Code of Ethics requires all members to adhere to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code), which sets out minimum standards for public reporting of this information.
The JORC Code stipulates “Public Reports of Exploration Results must contain sufficient information to allow a considered and balanced judgement of their significance. Reports must include relevant information such as exploration context, type and method of sampling, relevant sample intervals and locations, distribution, dimensions and relative location of all relevant assay data, methods of analysis, data aggregation methods, land tenure status plus information on any of the other criteria listed in Table 1 that are material to an assessment.
Public Reports of Exploration Results must not be presented so as to unreasonably imply that potentially economic mineralisation has been discovered. If true widths of mineralisation are not reported, an appropriate qualification must be prominently included in the Public Report.”
Care must also be used in relation to recognising “World Class Deposit” or “Tier 1 deposit“. Inappropriate use of, what could be considered entrepreneurial language could contravene the requirement for balanced reporting in public statements made in compliance with the JORC code.