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What is the JORC 2012 Table 1?

Table 1 is the JORC 2012 Code’s checklist of assessment and reporting criteria. The Competent Person addresses the relevant criteria in the supporting documentation. For a significant project reporting Exploration Results, Mineral Resources or Ore Reserves for the first time, or where those results or estimates have materially changed, the Public Report must include a technical summary of all relevant Table 1 sections on an “if not, why not” basis.

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JORC 2012
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The JORC 2012 Code

The JORC Code sets standards for public reporting of Exploration Results, Mineral Resources and Ore Reserves. Applicable ASX and NZX listing rules incorporate requirements relating to the Code for relevant reporting by entities subject to those rules. See what JORC is for who maintains the Code, its editions, and its three governing principles.

When a Table 1 is required

Clause 5 of the Code sets Table 1’s role at two levels. Within the Competent Person’s documentation — the working record behind any report — comments on the items in the relevant sections of Table 1 should be provided on an “if not, why not” basis. In the Public Report, Clauses 19, 27 and 35 require initial or materially changed Exploration Results, Mineral Resources or Ore Reserves for significant projects to be accompanied by a technical summary of all relevant sections of Table 1 on an “if not, why not” basis. The accompanying guidelines recommend presenting that summary as an appendix.

A Public Report is a report prepared for the purpose of informing investors or potential investors and their advisers on Exploration Results, Mineral Resources or Ore Reserves. Examples include market announcements, annual and quarterly reports, technical papers, website postings and public presentations. The company acting through its Board is responsible for the Public Report.

Where a company re-issues estimates that have not materially changed, Clause 9 of the Code provides a relaxation of the Competent Person consent requirement — the company may proceed without obtaining fresh prior written consent, provided specific conditions are met. See How does Competent Person consent work? for those conditions, including the annual reporting exception under Clause 15.

Exploration Targets

A Public Report that includes an Exploration Target (Clause 17) must explain the basis for the statement — including the level of exploration activity already completed — and must carry, in the same paragraph as the first reference to the target, a clarification that the potential quantity and grade, or quality where applicable, is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource, and that it is uncertain whether further exploration will result in the estimation of a Mineral Resource. Potential quantity and grade, or quality where applicable, must be given as approximate ranges, must not be reported as a headline statement, and the report must state whether the target is based on actual Exploration Results or on proposed exploration programmes. Clause 17 carries further requirements — read it in full before drafting.

Structure of the Table 1

The Table 1 is organised into five sections that correspond to the main reporting categories of the Code:

  1. Sampling techniques and data — the Code notes that criteria in this section apply to all succeeding sections, so it is worked through whichever category is being reported.
  2. Reporting of Exploration Results — the criteria that apply when the report presents Exploration Results.
  3. Estimation and reporting of Mineral Resources — the criteria that apply when the report presents a Mineral Resource estimate.
  4. Estimation and reporting of Ore Reserves — the criteria that apply when the report presents an Ore Reserve estimate.
  5. Estimation and reporting of Diamonds and Other Gemstones — for diamond and gemstone projects, in addition to the other relevant sections; the Code notes that criteria listed in other relevant sections also apply to this section.

Each section contains a table of criteria. In the Competent Person’s documentation, each item in the relevant sections must be discussed or its omission explained. Where the Public Report requirement described above applies, the report must include a technical summary of all relevant sections on the same “if not, why not” basis.

In TableOne Flow the sections shown are scoped to the report type, and Section 5 is added when the commodity is set to diamond or gemstone.

The “if not, why not” principle

Not every criterion will be relevant to every project or deposit. In the Competent Person’s documentation, Clause 5 requires each item in the relevant sections of Table 1 to be discussed; if an item is not discussed, the Competent Person must explain why it was omitted from the documentation. This is the “if not, why not” principle. The scoped Public Report requirement is described under “When a Table 1 is required” above.

The Competent Person

A Competent Person is a minerals industry professional who takes responsibility for the relevant information and supporting documentation on which a Public Report is based. Clause 11 of the Code sets the requirements:

A Public Report concerning Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves must name at least one Competent Person. Where responsibility is divided across sections, the Code’s guidelines recommend that each Competent Person and their contribution be identified. Clause 9 requires the Competent Person to consent to the form and context in which the report is released. Clause 9 also contains provisions that apply when a report is re-issued without material change to the estimates it contains.

Materiality

Clause 4 sets out the Materiality principle: a Public Report must contain all the relevant information that investors and their professional advisers would reasonably require, and reasonably expect to find in the report, for the purpose of making a reasoned and balanced judgement regarding the Exploration Results, Mineral Resources or Ore Reserves being reported. Where relevant information is not supplied, an explanation must be provided to justify its exclusion. The Table 1 criteria provide a structured mechanism for considering and disclosing information relevant to that Materiality assessment.

Format and presentation

The guidelines accompanying the relevant reporting sections recommend presenting the Table 1 technical summary as an appendix to the Public Report.

The full JORC 2012 Code

The complete text of the JORC 2012 Code — including all criteria, guidelines, and definitions — is available at jorc.org/docs.


This page is an educational summary of the JORC 2012 Code. It is not legal or professional advice. Refer to the full Code text at JORC Code, 2012 Edition (PDF) and seek professional guidance specific to your situation. Source acknowledgement: Joint Ore Reserves Committee, JORC Code, 2012 Edition.

TableOne Flow is built around the JORC 2012 Table 1 structure. If you draft Table 1 material or take responsibility for the supporting documentation, tell us about your setup. Register interest →