The process by which an exploration target and/or a mineral resource is articulated and defined for acquisition purposes. The process includes: evaluation of grade and tonnes, pre-feasibility phase, examining the production options, and acquisition of the necessary rights.
At a strategic level: the exploration strategy and associated activities to find new deposits.
At a tactical level: focus on the evaluation of existing mineral deposits.
At an operational level: day-to-day enhancement of the level of confidence in the geological model.