Proven & Probable Reserves (P&P)
RegulatoryHighest category of mineral reserves with demonstrated economic extractability.
Detail
Proven & Probable Reserves (P&P) are the economically extractable subsets of a mineral resource, demonstrated by a feasibility study (or at least a pre-feasibility study). Proven has higher geological confidence (tight drill pattern) than Probable. Together they are the only reserve category that may be cited in investor materials for cash-flow models. Not to be confused with Mineral Resources (Measured, Indicated, Inferred), which reflect only geological confidence, not economic extractability.
Example
Lundin Gold reports P&P reserves at Fruta del Norte — all incorporated into the MAS-Score Geology sub-score.
Related Terms
- NI 43-101
Canadian standard for public reporting on mineral resources and reserves.
- Mineral Resources (M&I, Inferred)
Geologically demonstrated mineralization, classified by confidence level.
- Feasibility Study (FS / PFS)
Technical-economic study assessing the economic viability of a mining project.
See Proven & Probable Reserves (P&P) in a Mineralis profile.
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