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Liberty Star - Minerals glossary Category: Agriculture and Industry > Minerals terms Date & country: 10/11/2016, USA Words: 619

Primary deposits
Valuable minerals deposited during the original period or periods of mineralization as opposed to those deposited as a result of alteration or weathering.

Price-to-earnings ratio
The current market price of a stock divided by the company’s net earnings per share for the year.

Preliminary Feasibility Study
A comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established, where an effective method of mineral processing has been determined, and includes a financial analysis based on reasonable assumptions of technical, engineering, legal, operating, and economic factors and evaluation of other relevant factors which are sufficient for a Qualified Person, acting reasonably, to determine if all or part of the Mineral Resource may be classified as a Mineral Reserve.

Preferred shares
Shares of a limited liability company that rank ahead of common shares, but after bonds, in distribution of earnings or in claim to the company’s assets in the event of liquidation. They pay a fixed dividend but normally do not have voting rights as with common shares.

Precambrian Shield
The oldest, most stable regions of the Earth’s crust, the largest of which is the Canadian Shield.

Potash
Potassium compounds mined for fertilizer and for use in the chemical industry.

Portal
The surface entrance to a tunnel or adit.

Portfolio
A list of financial assets.

Possible reserves
Valuable mineralization not sampled enough to accurately estimate its tonnage and grade, or even verify its existence. Also called `inferred reserves.`

Polishing pond
The last in a series of settling ponds through which mill effluent flows before being discharged into the natural environment.

Pooling shares
see Escrowed shares

Porphyry
Any igneous rock in which relatively large crystals, called phenocrysts, are set in a fine-grained groundmass.

Porphyry copper
A deposit of disseminated copper (frequently with gold, molybdenum, silver, and zinc) minerals in or around a large body of intrusive rock.

Plug
A common name for a small offshoot from a large body of molten rock.

Plunge
The vertical angle a linear geological feature makes with the horizontal plane.

Plutonic
Refers to rocks of igneous origin that have come from great depth.

Point
Unit of value of a stock as quoted by a stock exchange. May represent one dollar, one cent or one-eighth of a dollar, depending on the stock exchange.

Pitchblende
An important uranium ore mineral. It is black in color, possesses a characteristic greasy luster and is highly radioactive.

Placer
A deposit of sand and gravel containing valuable metals such as gold, tin or diamonds.

Plant
A building or group of buildings in which a process or function is carried out; at a mine site it will include warehouses, hoisting equipment, compressors, maintenance shops, offices and the mill or concentrator.

Plate tectonics
A geological theory, which postulates that the Earth’s crust, is made up of a number of rigid plates which collide, rub up against and spread out from one another.

Pig iron
Crude iron from a blast furnace.

Pillar
A block of solid ore or other rock left in place to structurally support the shaft, walls or roof of a mine.

Petrology
A general term for the study by all available methods of the natural history of rocks including ore deposits and mineral deposits.

Phaneritic
A term used to describe the coarse-grained texture of some igneous rocks.

Picket line
A reference line, marked by pickets or stakes, established on a property for mapping and survey purposes.

Pentlandite
Nickel iron sulfide, the most common nickel ore.

Peridotite
An intrusive igneous rock consisting mainly of olivine.

Person Year
One whole year, or fraction thereof, worked by an employee, including contracted manpower. It is expressed as a quotient (to two decimal places) of the time units worked during a year (hours, weeks, or months) divided by the like total time units in a year. For example: 80 hours worked is 0.04 (rounded) of a person year; 8 weeks worked is 0.15 (rounded) of a person year; 12 months worked is 1.0 person year. Contracted manpower includes survey crews, drilling crews, consultants, and other persons who worked under contract to support your firm’s ongoing operations.

Pellet
A marble-sized ball of iron ore fused with clay for transportation and use in steelmaking.

Pegmatite
A coarse-grained, igneous rock, generally coarse but irregular in texture and similar to a granite in composition; it usually occurs in dykes or veins and sometimes contains valuable minerals.

Pegmatite-Intrusive (Rossing-style) Uranium Deposits
Rio Tinto’s Rossing pegmatite-intrusive deposit in Namibia produces nearly 8% of the world’s uranium annually. Rossing is a world class deposit and an important model for uranium exploration globally, including Labrador’s Central Mineral Belt (CMB). The Rossing deposit is characterized by disseminated uranium mineralization (dominantly uraninite) in a granite-like rock body in areas that have been subjected to intense metamorphism. Copper sulphides, molybdenite, arsenopyrite, iron oxides and fluorite are often associated with the ore. The deposit and others in its class are considered to possibly represent the deeper geologic equivalents of the higher level Olympic Dam-IOCG model. Therefore, the two models can both be applied in certain uranium districts, such as the CMB.

Patent
The ultimate stage of holding a mineral claim, after which no more assessment work is necessary because all mineral rights have been earned.

Participating interest
A company’s interest in a mine, which entitles it to a certain percentage of profits in return for putting up an equal percentage of the capital cost of the project.

Overturned
Where the oldest sedimentary rock beds are lying on top of a younger bed.

Oxidation
A chemical reaction caused by exposure to oxygen that results in a change in the chemical composition of a mineral.

Pan
To wash gravel, sand or crushed rock samples in order to isolate gold or other valuable metals by their higher density.

Par value
The stated face value of a stock. Par value shares have no specified face value, but the total amount of authorized capital is set down in the company’s charter.

Outcrop
An exposure of rock or mineral deposit that can be seen on surface, i.e. that is not covered by soil or water,

Orebody
A natural concentration of valuable material that can be extracted and sold at a profit.

Oreshoot
The portion, or length, of a vein or other structure, that carries sufficient valuable mineral to be extracted profitably.

Organic maturation
The process of turning peat into coal.

Orogeny
A period of mountain building characterized by the folding of a portion of the Earth’s crust.

Ore Reserves
The calculated tonnage and grade of mineralization which can be extracted profitably; classified as possible, probable and proven according to the level of confidence that can be placed in the data.

Optional delivery commitment
A provision to allow the conditional purchase or sale of a specific quantity of material in addition to the firm quantity in the contract.

Ore
A mixture of ore minerals and gangue from which at least one of the metals can be extracted at a profit.

Ore pass
Vertical or inclined passage for the downward transfer of ore connecting a level with the hoisting shaft or a lower level.

Option
An agreement to purchase a property reached between the property vendor and some other party who wishes to explore the property further.

Option
(on stock) The right to buy (or sell) a share at a set price, regardless of market value.

Open order
An order to buy or sell stock, which is good until cancelled by the client.

Open pit
A mine that is entirely on surface. Also referred to as open-cut or open-cast mine.

Open stoping
A mining method wherein stopes are left largely open during mining. Small ore bodies are often mined completely out, leaving no pillar of ore in place to support the walls of the stope. In some kinds of rock, it is possible to mine out huge stopes which stand open for years. When some of the ore body is left in place as random pillars to support walls, the material is low-grade wherever possible because it may never be removed from the mine. Sometimes, after open stoping a mine, the pillars are `robbed` just before abandoning that portion of the mine, when the collapse of the stope walls is of no concern to the operation.

Nugget
A small mass of precious metal, found free in nature.

Odd lot
A block of shares that is less than a board lot.

NSAMT
Natural source AMT. A type of AMT survey which uses naturally occurring EM waves generated by thunderstorms going on constantly around the world. see also CSAMT

Nuclear electric power
(nuclear power) Electricity generated by an electric power plant whose turbines are driven by steam produced by the heat from the fission of nuclear fuel in a reactor.

Nuclear reactor
An apparatus in which a nuclear fission chain reaction can be initiated, controlled, and sustained at a specific rate. A reactor includes fuel (fissionable material), moderating material to control the rate of fission, a heavy-walled pressure vessel to house reactor components, shielding to protect personnel, a system to conduct heat away from the reactor, and instrumentation for monitoring and controlling the reactor’s systems.

Norite
A coarse-grained igneous rock that is host to copper/nickel deposits in the Sudbury area of Ontario.

Net smelter return
A share of the net revenues generated from the sale of metal produced by a mine.

Net worth
The difference between total assets and total liabilities.

Nonconventional plant
(uranium) A facility engineered and built principally for processing of uraniferous solutions that are produced during in situ leach mining, from heap leaching, or in the manufacture of other commodities, and the recovery, by chemical treatment in the plant’s circuits, of uranium from the processed solutions.

Native metal
A metal occurring in nature in pure form, uncombined with other elements.

Natural source audio-range magneto-telluric
see NSAMT

Net profit interest
A portion of the profit remaining after all charges, including taxes and bookkeeping charges (such as depreciation) have been deducted.

National Uranium Resource Evaluation
(NURE) A program begun by the U.S. Atomic Energy Commission (AEC) in 1974 to make a comprehensive evaluation of U.S. uranium resources and continued through 1983 by the AEC’s successor agencies, the Energy Research and Development Administration (ERDA) and the Depart-ment of Energy (DOE). The NURE program included aerial radiometric and magnetic surveys, hydrogeochemical and stream sediment surveys, geologic drilling in selected areas, geophysical logging of selected boreholes, and geologic studies to identify and evaluate geologic environments favorable for uranium.

Muck
Ore or rock that has been broken by blasting.

Muck sample
A representative piece of ore that is taken from a muck pile and then assayed to determine the grade of the pile.

Nanotesla
The international unit for measuring magnetic flux density.

Mineral Resource
A Mineral Resource is a concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.

Molybdenum
A gray, metallic element that resembles chromium and tungsten in many properties, is used esp. in strengthening and hardening steel, and is a trace element in plant and animal metabolism. Molybdenum’s low toxicity has also turned it into an important component of catalysts and lubricants, many of which are used by the oil industry.

Mineral
A naturally occurring homogeneous substance having definite physical properties and chemical composition and, if formed under favorable conditions, a definite crystal form.

Mineral Reserve
A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined.

Milling ore
Ore that contains sufficient valuable mineral to be treated by milling process.

Millivolts
A measure of the voltage of an electric current, specifically, one-thousandth of a volt.

Mineable reserves
Ore reserves that are known to be extractable using a given mining plan.

Migmatite
Rock consisting of thin, alternating layers of granite and schist.

Mill
1) A plant in which ore is treated and metals are recovered or prepared for smelting. 2) A revolving drum used for the grinding of ores in preparation for treatment.

Milling of uranium
The processing of uranium from ore mined by conventional methods, such as underground or open pit, to separate the uranium from the undesired material in the ore.

Metamorphism
The process by which the form or structure of rocks is changed by heat and pressure.

Metadata
Data that describes other data. `Meta` is a prefix that in most information technology usages means an underlying definition or description.

Metallurgical coal
Coal used to make steel.

Metallurgy
The study of extracting metals from their ores.

Metamorphic rocks
Rocks, which have undergone a change in texture or composition as the result of heat and/or pressure.

Matte
A product of a smelter, containing metal and some sulfur, which must be refined further to obtain pure metal.

Measured Mineral Resource
A Measured Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

Marginal deposit
An orebody of minimal profitability.

Market order
An order to buy or sell at the best price available. In absence of any specified price or limit, an order is considered to be `at the market`.

Material Event
News or details that may reasonably be expected to affect a company’s stock price and thus decisions that investors make about buying or selling the company’s stock. Material events must be made public and fall under the jurisdiction of the USA Securities Exchange Commission.

Magnetometer
An instrument used to measure the magnetic attraction of underlying rocks.

Map-staking
A form of claim-staking practiced in some jurisdictions, whereby claims are staked by drawing lines around the claim on claim maps at a government office.

Marble
A metamorphic rock derived from the recrystallization of limestone under intense heat and pressure.

Margin
Cash deposited with a broker as partial payment of the purchase price for any type of listed stock. The broker as security for the loan holds the stock.

Magnetite
Black, magnetic iron ore, an iron oxide.

Magnetic separation
A process in which a magnetically susceptible mineral is separated from gangue minerals by applying a strong magnetic field; ores of iron are commonly treated in this way.

Magnetic survey
A geophysical survey that measures the intensity of the Earth’s magnetic field.

Magnetic susceptibility
A measure of the degree to which a rock is attracted to a magnet.

Magnetic gradient survey
A geophysical survey using a pair of magnetometers a fixed distance apart, to measure the difference in the magnetic field with height above the ground.

Long ton
2,240 lbs. avoirdupois (compared to a short ton, which is 2,000 lb).

Long-term contract
One or more deliveries to occur after a year following contract execution.

Long-term price
The price for product sold or purchased under contract for multiple deliveries beginning after one year.