A piece of gold of any shape or size larger than a flake, usually rounded by stream or water action. The right to purchase at a stated price. A source from which valuable matter is extracted. The part of a vein that carries ore. Generally, all parts of a vein are not ore.
Ore shoot has the same meaning.
The edge or surface of a mineral deposit or sedimentary bed which appears on the surface. The valueless material overlaying the pay zone in a placer deposit or the waste or valueless material of a solid outcrop. Any activity which involves the conduct of a trade or business which the taxpayer does not materially participate. PIT A hole, shaft, or cavity in the ground. An alluvial or glacial deposit containing particles of valuable mineral-bearing gravel or gold.