Review of geological reports for compliance with NI 43-101


Review of geological reports for compliance with NI 43-101

The uploaded document, titled “NI43-101 Technical Geological Report for Limani Gold Prospect,” outlines geological, environmental, and operational aspects of a mining project. However, compliance with NI 43-101, a Canadian standard for the disclosure of mineral project information, is stringent and requires adherence to specific content and reporting guidelines.

The uploaded document, titled “NI43-101 Technical Geological Report for Limani Gold Prospect,” outlines geological, environmental, and operational aspects of a mining project. However, compliance with NI 43-101, a Canadian standard for the disclosure of mineral project information, is stringent and requires adherence to specific content and reporting guidelines.

Summary of Issues:

  1. Qualified Person (QP) Statement:

    • NI 43-101 requires all reports to be prepared and certified by a Qualified Person (QP) as defined under the standard. While the document mentions a “Competent Person’s Report,” it does not explicitly state adherence to the NI 43-101 requirements, and the credentials of the person are not clarified in line with NI 43-101 expectations.
  2. Resource and Reserve Classification:

    • NI 43-101 mandates clear definitions and classifications of mineral resources and reserves (Measured, Indicated, Inferred). This report provides resource estimates (e.g., 55,562 oz of gold at 2.88 g/t), but lacks the detailed classifications and justifications required under NI 43-101.
  3. Economic Analysis:

    • An economic assessment (Preliminary Economic Assessment, Preliminary Feasibility Study, or Feasibility Study) is required under NI 43-101 for disclosing mineral project value. The document lacks sufficient economic analysis, including capital and operating cost estimates, which is mandatory for compliance.
  4. Data Verification:

    • NI 43-101 requires verification procedures for data sources used in the report. While the document describes some historical exploration and sampling data, it does not adequately detail the data verification process or include validation by a Qualified Person.
  5. Technical Justification:

    • The report mentions prior exploration activities and proposed mining methods but lacks the in-depth geological models, exploration techniques, and geotechnical assessments typically required under NI 43-101.
  6. Environmental and Permitting:

    • NI 43-101 requires detailed disclosure of environmental considerations, permitting status, and compliance. While the document mentions an Environmental Protection Plan (EPP), it lacks specific information about environmental impact assessments or regulatory approval status.

Why It Doesn’t Comply:

Recommendation:

For compliance, the report would need: 1. Certification by a Qualified Person with credentials listed explicitly as per NI 43-101 requirements. 2. Inclusion of detailed resource/reserve classifications and economic studies. 3. A comprehensive data verification process. 4. Explicit reference to compliance with NI 43-101 in the document’s scope.

If you need assistance updating the report for compliance or further insights, feel free to ask!

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