I've cut & paste from a couple of sources to help clarify the type of document MICON has written for the SKF JV. The first source is Wikipedia and the second source is the MICON Technical 43-101 itself (section 2.2).
Note that this document is a technical assessment report to, among other things, substantiate the preliminary exploration work of the SKF JV. It does not, however, provide a mineral resource classification.
Correct me if I'm wrong, but the real 43-101 will come after more drilling is done to identify the mineral resources and ore reserves in Big Daddy.
Snug
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National Instrument 43-101 (NI 43-101) is a mineral resource classification scheme used for the public disclosure of information relating to mineral properties. The NI is a strict guideline for how public companies can disclose scientific and technical information about mineral projects on bourses supervised by the Canadian Securities Administrators.
NI 43-101 is a national instrument for the Standards of Disclosure for Mineral Projects within Canada. The Instrument is a codified set of rules and guidelines for reporting and displaying information related to mineral properties owned by, or explored by, companies which report these results on stock exchanges within Canada. This includes foreign-owned mining entities who trade on stock exchanges overseen by the Canadian Securities Administrators, even if they only trade on Over The Counter (OTC) derivatives or other instrumented securities.
Mineral resource classification is the systematic organization of information on ores and other mineral deposits which contain economic value. The process guides governmental and industrial planning on how to manage the resources.
Not all mineralization meets these criteria. The specific categories of mineralization in an economic sense are:
- mineral occurrences or prospects which are of geological interest but may not be of economic interest
- mineral resources, include those which are potentially economically and technically feasible, and those which are not
- ore reserves, must be economically and technically feasible to extract
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2.2 PURPOSE
The purpose of this technical assessment report is threefold, viz:
To substantiate the preliminary exploration work completed by the SKF JV leading to the discovery of the Big Daddy chromite deposit and the associated PGE mineralization and in so doing, to ensure that shareholders get an independent review of the company’s activities.
To support documents, which may be required by the Canadian regulatory authorities such as the filing of Annual Information Forms (AIF).
To lend support to possible future financing efforts by the SKF JV partners.
