Mineral Resource:

is a deposit or concentration of natural, solid, inorganic or fossilized organic substance in such quantity and at such a grade or quality that extraction of the mineral at a profit is currently or potentially possible

Mineral Reserve:

is that part of a mineral resource which can be mined legally and at a profit under economic conditions that are specified and are generally accepted as reasonable. Economic viability must be demonstrated by at least a preliminary feasibility study based on Indicated and Measured Resources.