Draft document available for comment

For the past twelve months, a subcommittee of the CIM Mineral Resources and Mineral Reserves (MRMR) Committee has been working diligently on an update of the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines. The initial version of these Estimation Best Practice Guidelines was adopted by CIM Council on November 23, 2003, and incorporated by the Canadian Securities Administrators in the Companion Policy of National Instrument 43-101 under Industry Best Practice Guidelines.

This subcommittee has spent considerable effort preparing this document, which reflects the evolution of industry practices. It has also drawn on the expertise of industry participants who have contributed to the discussion of the parameters that should be considered when converting mineral resources to mineral reserves.

The draft Estimation Best Practice Guidelines were circulated to an initial group of industry practitioners and over 37 responses were received and considered for this draft. The draft document is now available for industry comment.