PhotonAssayTM and International Code “Compliance”

The fifteen CRIRSCO-based international reporting codes/standards (e.g. JORC, CIM inc. NI 43-101, PERC, SAMREC, etc.) set out guidance to listed entities as to how to publicly report Exploration Results, Mineral Resources and Ore/Mineral Reserves. None of the codes define “acceptable” practices, just that the methods used, and the resultant findings, are reported truthfully. PhotonAssay™ is a known and trusted analytical method that has been used globally in market reports since 2018. The international codes outline how assay results should be reported to the market, however they do not outline which assay methods are reportable using said codes. Therefore, it is not which analytical method is, or is not, code “compliant,” but rather the way in which the method is disclosed via the code’s guidelines that makes the public report “compliant.”