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o c t o b e r / n o v e m b e r 2 0 1 6 www.resourceworld.com 23 potential lithium-bearing horizon and to identify prospective wellhead locations for the re-entry or drilling of new wells. Let's skip ahead to the first real level of project assessment, a scoping study. This study will help to determine if the prop- erty has the potential to become a viable project and also identify particular areas of concern. It provides an assessment of the completeness and level of confidence in the existing data such as the accuracy of an inferred resource. The scoping study uses relatively incomplete information to identify project risks in the areas of tech- nical, environmental, permitting and social concerns. Basic economic analysis is also formed, ultimately giving a green light to proceed to fill in data gaps or perhaps wait for market conditions to improve before taking further action. As the work program progresses and data gaps are filled, the next step is a pre- liminary feasibility study that is far more detailed than the scoping study. This study is done by factoring known unit costs and by estimating gross dimensions or quantities once conceptual engineer- ing and mine design has been completed. In other words, an orebody model that demonstrates its shape, tonnage and grade. Finally, a bankable feasibility study is pro- duced which is a de-risking event. After an investor assesses the level of risk in buying a particular exploration or mining stock, he or she must determine what level of risk is comfortable to live with, in other words, a personal assess- ment. n The above article was written by Barry Muir who is a registered Investment Adviser with Haywood Securities Inc. a Canadian based independent, full service investment firm and member of the Canadian Investor Protection Fund. The article is for informational purposes only and is neither a solicitation for the pur- chase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. The information contained in the reports have been compiled from sources Haywood believes are reliable; however, Haywood makes no guarantee, representation or warranty, expressed or implied, as to such information's accuracy or completeness. The views expressed are those of the author and not necessarily Haywood Securities Inc. All opinions and estimates contained in the reports are based on assumptions the author believes to be rea- sonable as of the dates of the reports but are subject to change without notice. Either the author, Haywood Securities Inc. or its employ- ees may from time to time hold or transact in the securities mentioned. Barry can be reached at (604) 697-6172 or bmuir@haywood.com ADVANCING CONSTRUCTION OF THE HIGH-GRADE GOLD BRUCEJACK PROJECT IN NORTHERN BC COMMERCIAL PRODUCTION TARGET 2017