Claim: South African Mineral Reporting Codes has a SAMREC code which details three main reporting categories (i.e. Exploration Results, Mineral Resources, and Mineral Reserves) and wherein part of this code requires Competent Person/s (CP) to have at least five years of experience in the style of mineralization—a geological process which refers to the deposition of economically important metals.
Evidence: In compliance with the Denver Accord, the first version of the SAMREC Code was published in March 2000. The code details three main categories for the reporting on mining projects, these are Exploration Results, Mineral Resources, and Mineral Reserves. When interest is first expressed in the geology of an area, preliminary work is undertaken by Competent Person/s (CP) on the site, the results of which may be of interest to investors and are reported as Exploration Results or Exploration Target, but which should not be considered a declaration of Mineral Resources or Reserves. According to SSC standards, CPs are required to have at least five years of experience relevant to the style of mineralisation, the type of deposit and the activity that is being undertaken. In geology, mineralization is the deposition of economically important metals in the formation of ore bodies or "lodes" by various process.