TSX: G $ 23.06 -0.28 -1.2% Volume: 3,553,746 November 21, 2014
NYSE: GG $ 20.52 -0.09 -0.44% Volume: 8,196,438 November 21, 2014
GOLD: US $ 1,201.42 +6.75 +0.57% Volume: November 21, 2014

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Glossary
A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z  
A
Agglomeration
A method of concentrating valuable minerals based on their adhesion properties.
 
Assay
To analyze the proportions of metals in an ore; to test an ore or mineral for composition, purity, weight, or other properties of commercial interest.
 
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B
Backfill
Waste material used to fill the void created by mining an orebody.
 
Ball Mill
A large steel cylinder containing steel balls into which crushed ore is fed. The ball mill is rotated, causing the balls to cascade and grind the ore.
 
Bench
Horizontal steps/increments mined as an open pit progresses deeper.
 
Bull market
Term used to describe financial market conditions when share prices are going up.
 
By-product
A secondary metal or mineral product recovered in the milling process such as copper and silver.
 
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C
Capitalization
A financial term used to describe the value financial markets put on a company. Determined by multiplying the number of outstanding shares of a company by the current stock price.
 
Carbon-in-leach
A recovery process in which a slurry of gold ore, carbon granules and cyanide are mixed together. The cyanide dissolves the gold content and the gold is absorbed on the carbon; the carbon is subsequently separated from the slurry for further gold removal.
 
Carbon-in-pulp
A method of recovering gold and silver from pregnant cyanide solutions by adsorbing the precious metals to granules of activated carbon, which are typically ground up coconut shells.
 
Concentrate
A very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated.
 
Contained ounces
Represents ounces in the ground before reduction of ounces not able to be recovered by the applicable metallurgical process.
 
Conventional rotary drilling
Produces rock chips similar to reverse circulation except that the sample is collected through a single-walled drill pipe.
 
Core Drilling
The process of obtaining cylindrical rock samples by means of annular-shaped rock-cutting bits rotated by a borehole-drilling machine.
 
Core sample
A cylinder sample generally 1-5" in diameter drilled out of an area to determine the geologic and chemical analysis of the overburden and coal.
 
Crosscut
A passageway driven between the entry and its parallel air course or air courses for ventilation purposes. Also, a tunnel driven from one seam to another through or across the intervening measures; sometimes called "crosscut tunnel", or "breakthrough". In vein mining, an entry perpendicular to the vein.
 
Crushing and grinding
The process by which ore is broken into small pieces to prepare it for further processing.
 
Cut & fill
A method of stoping in which ore is removed in slices, or lifts, and then the excavation is filled with rock or other waste material (backfill), before the subsequent slice is extracted.
 
Cyanidation
A method of extracting gold or silver by dissolving it in a weak cyanide solution.
 
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D
Diamond drill
A rotary type of rock drill that cuts a core of rock that is recovered in long cylindrical sections, two cm or more in diameter.
 
Dilution
The effect of waste or low-grade ore being included unavoidably in the mined ore, lowering the recovered grade.
 
Dividend
Cash or stock awarded to preferred and common shareholders at the discretion of the company's board of directors.
 
Doré
Unrefined gold and silver bullion bars, which will be further, refined to almost pure metal.
 
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E
Exploration
Prospecting, sampling, mapping, diamond-drilling and other work involved in searching for ore.
 
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G
Grade
The amount of metal in each ton of ore, expressed as troy ounces per ton or grams per tonne for precious metals and as a percentage for most other metals.
Cut-off grade: the minimum metal grade at which an orebody can be economically mined (used in the calculation of ore reserves).
Mill-head grade: metal content of mined ore going into a mill for processing.
Recovered grade: actual metal content of ore determined after processing.
Reserve grade: estimated metal content of an orebody, based on reserve calculations.
 
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H
Heap leaching
A process whereby gold is extracted by “heaping” broken ore on sloping impermeable pads and continually applying to the heaps a weak cyanide solution which dissolves the contained gold. The gold-laden solution is then collected for gold recovery.
 
High grade
Rich ore. As a verb, it refers to selective mining of the best ore in a deposit.
 
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I
In-fill
Any method of drilling intervals between existing holes, used to provide greater geological detail and to help establish reserve estimates.
 
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M
Mill
A plant where ore is ground fine and undergoes physical or chemical treatment to extract the valuable metals.
 
Minable reserves
Ore reserves that are known to be extractable using a given mining plan.
 
Mineral Reserves & Resources
Standard: Proven and Probable Mineral Reserves and Measured, Indicated and Inferred Mineral Resources have been estimated in accordance with the definitions of these terms adopted by the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) in November 2005 and incorporated in National Instrument 43-101, “Standards of Disclosure for Mineral Projects” (“NI 43-101”), by Canadian securities regulatory authorities. Estimates of coal reserves and resources have been prepared and classified using guidance from the Geological Survey of Canada Paper 88-21. Classification terminology for coal conforms to CIM definitions incorporated into NI 43-101. Mineral Resources are reported separately from and do not include that portion of the Mineral Resources that is classified as Mineral Reserves. That portion of Mineral Resource which is not classified as Mineral Reserve does not have demonstrated economic value.

Definitions: The CIM Definition standards on Mineral Resources and Mineral Reserves provide as follows:

A Mineral Resource is a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals in or on the earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.

An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

A Measured Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined.

A Probable Mineral Reserve is the economically mineable part of an Indicated and, in some circumstances, a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.

A Proven Mineral Reserve is the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.
 
Mineralized material
Mineralized material is the projection of mineralization in rock based on geological evidence and assumed continuity. It may or may not be supported by sampling but is supported by geological, geochemical, geophysical or other data. This material may or may not have economically recoverable mineralization.
 
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O
Open pit
A mine where the minerals are mined entirely from the surface.
 
Ore
Rock, generally containing metallic and non-metallic minerals that can be mined and processed at a profit.
 
Orebody
A sufficiently large amount of ore that can be mined economically.
 
Ounces
Troy ounces of a fineness of 999.9 parts per 1,000 parts.
 
Oxide ore
Mineralized rock in which some of the original minerals have been oxidized. Oxidation tends to make the ore more amenable to cyanide solutions so that minute particles of gold will be readily dissolved.
 
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R
Reclamation
The process by which lands disturbed as a result of mining activity are reclaimed back to a beneficial land use. Reclamation activity includes the removal of buildings, equipment, machinery and other physical remnants of mining, closure of tailings impoundments, leach pads and other mine features, and contouring, covering and revegetation of waste rock piles and other disturbed areas.
 
Recovery
A term used in process metallurgy to indicate the proportion of valuable material obtained in the processing of an ore. It is generally stated as a percentage of valuable metal in the ore that is recovered compared to the total valuable metal present in the ore.
 
Refining
The final stage of metal production in which impurities are removed from the molten metal.
 
Reverse circulationdrilling
Drilling that produces rock chips rather than core. The chips are forced by air to surface through a double-walled drill pipe and are collected for examination.
 
Royalty
An amount of money paid at regular intervals by the lessee or operator of an exploration or mining property to the owner of the ground. Generally, it will be based on a certain amount per tonne or a percentage of the total production or profits. Also, the fee paid for the right to use a patented process.
 
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S
Shaft
A vertical passageway to an underground mine for ventilation, moving personnel, equipment, supplies and material including ore and waste rock.
 
Skarn
Name for the metamorphic rocks surrounding an igneous intrusive where it comes in contact with a limestone or dolostone formation.
 
Stockpile
Broken ore heaped on surface or prepared areas underground, pending treatment or shipment.
 
Stope
An area in an underground mine where ore is mined.
 
Strike length
The longest horizontal dimension of an orebody or zone of mineralization.
 
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T
Tailings
The material that remains after all economically and technically recoverable precious metals have been removed from the ore during processing.
 
Total cash costs
Total cash costs are calculated in accordance with The Gold Institute Production Cost Standard and include site costs for all mining (excluding deferred stripping costs), processing and administration, royalties and production taxes, but are exclusive of amortization, reclamation, financing costs, capital costs and exploration costs. See “Non-GAAP Performance Measures”.
 
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V
Vein
A fissure, fault or crack in a rock filled by minerals that have traveled upwards from some deep source.
 
Visible gold
Native gold which is discernible, in a hand specimen, to the unaided eye.
 
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TSX: G $ 23.06 -0.28 -1.2% Volume: 3,553,746 November 21, 2014
NYSE: GG $ 20.52 -0.09 -0.44% Volume: 8,196,438 November 21, 2014
GOLD: US $ 1,201.42 +6.75 +0.57% Volume: November 21, 2014