indicated ore

indicated ore

[′in·də‚kād·əd ′ȯr]
(mining engineering)
A known mineral deposit for which quantitative estimates are made partly from inference and partly from specific sampling. Also known as probable ore.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
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The company has unveiled a new preliminary economic assessment (PEA) with an updated resource estimate identifying almost 1.3 billion tonnes of indicated ore at a grade of 28.38 per cent, enough for a 30-year mine life.
Early indications from ore samples at shallow depths have indicated ore grades well above the expected leves at this site, but we will remain patient." -Mr Wei Feng, China Resources International President.
Nevsun had proposed to develop an exploration decline to access the drill indicated ore zones approximately 50 m below surface.
The work resulted in an increase in the indicated ore resource to around 170 Mt at a nickel grade of 0.29% and a copper grade of 0.20%, containing a reserve of 48 Mt at 0.59% nickel and 0.34% copper.
The deposit has 8.2 Mt of measured and indicated ore grading 18.4% zinc, 8.4% lead and 125 g/t silver.