Mano River Resources Inc.


Nov 20, 2008 



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A

Acidic rocks

Igneous rock carrying a high (greater than 65%) proportion of silica.

Adit

An opening driven horizontally into the side of a mountain or hill for providing access to a mineral deposit.

Aero magnetic survey

A geophysical survey using a magnetometer aboard, or towed behind, an aircraft.

Airborne survey

A survey made from an aircraft to obtain photographs, or measure magnetic properties, radioactivity, etc.

Alteration

Any physical or chemical change in a rock or mineral subsequent to its formation. Milder and more localized than metamorphism.

Amortization

The gradual and systematic writing off of a balance in an account over an appropriate period.

Amphibolite

A gneiss or schist largely made up of amphibole and plagioclase minerals.

Annual report

The formal financial statements and report on operations issued by a corporation to its shareholders after its fiscal year end.

Anomaly

Any departure from the norm which may indicate the presence of mineralization in the underlying bedrock.

Anticline

An arch or fold in layers of rock shaped like the crest of a wave.

Archaean

The earliest eon in time from around 4,500 to 2,500 million years ago. For more information on Archaean Geology, see our Gold Strategy

Assay

A chemical test performed on a sample of ores or minerals to determine the amount of valuable metals contained.

Authorized capital

See capital stock.

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B

Balance sheet

A formal statement of the financial position of a company on a particular day, normally presented to shareholders once a year.

Banded iron formation

A bedded deposit of iron minerals.

Basalt

An extrusive volcanic rock composed primarily of plagioclase, pyroxene and some olivine.

Basement rocks

The underlying or older rock mass. Often refers to rocks of Precambrian age which may be covered by younger rocks.

Base metal

Any non precious metal (eg. Copper, lead, zinc, nickel, etc.).

Basic rocks

Igneous rocks that are relatively low in silica and composed mostly of dark colored minerals.

Batholith

A large mass of igneous rock extending to great depth with its upper portion domelike in shape. Similar, smaller masses of igneous rocks are known as bosses or plugs.

Bauxite

A rock made up of hydrous aluminum oxides; the most common aluminum ore.

Bioleaching

A process for recovering metals from low-grade ores by dissolving them in solution, the dissolution being aided by bacterial action.

Biotite

A platy magnesium iron mica, common in igneous rocks.

Birimian

Era of geological time between 2,200 and 1,800 million years ago. Typified by deposition of rocks similar to those of the Birim Valley, Ghana.

Bit

The cutting end of a drill frequently made of an extremely hard material such as industrial diamonds or tungsten carbide.

Bond

An agreement to pay a certain amount of interest over a given period of time.

Break

Loosely used to describe a large scale regional shear zone or structural fault.

Bulk mining

Any large-scale, mechanized method of mining involving many thousands of tonnes of ore being brought to surface per day.

Bulk sample

A large sample of mineralized rock, frequently hundreds of tonnes, selected in such a manner as to be representative of the potential ore body being sampled. Used to determine metallurgical characteristics.

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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 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.

Channel sample

A sample composed of pieces of vein or mineral deposit that have been cut out of a small trench or channel, usually about 10 cm wide and 2 cm deep.

Chip sample

A method of sampling a rock exposure whereby a regular series of small chips of rock is broken off along a line across the face.

Cleavage

The tendency of a mineral to split along crystallographic planes.

Common stock

Shares in a company which have full voting rights which the holders use to control the company in common with each other. There is no fixed or assured dividend as with preferred shares, which have first claim on the distribution of a company's earnings or assets.

Composite sample

A cumulative collected sample which is representative of the ore body, used for metallurgical testing.

Contact

A geological term used to describe the surface along which two different rock formations meet.

Contained ounces

Represents ounces in the ground before the deduction of any ounces not recovered by the applicable metallurgical process.

Core

The cylindrical piece of rock, typically one to five inches in diameter, brought to surface by diamond drilling.

Core barrel

That part of a string of tools in a diamond drill hole in which the core specimen is collected.

Country rock

Loosely used to describe the general mass of rock adjacent to an ore body. Also known as the host rock.

Crushing and grinding

The process by which ore is broken into small pieces to prepare it for further processing.

Current assets

Assets of company which can and are likely to be converted into cash within a year. Includes cash, marketable securities, accounts receivable and supplies.

Current liabilities

A company's debts that are payable within a year's time.

Cut off grade

Is the minimum metal grade at which an ore body can be economically mined.

Cyanidation

A method of extracting exposed gold or silver from crushed or ground ore by dissolving it in a weak cyanide solution. May be carried out in tanks inside a mill or in heaps of ore out of doors.

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D

Deferred charges

Expenses incurred but not charged against the current year's operation.

Diamond

The hardest known mineral, composed of pure carbon; low quality diamonds are used to make bits for diamond drilling in rock.

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 (of shares)

A decrease in the value of a company's shares caused by the issue of treasury shares.

Dip

The angle at which a vein, structure or rock bed is inclined from the horizontal as measured at right angles to the strike.

Disseminated ore

Ore carrying small particles of valuable minerals spread more or less uniformly through the host rock.

Doré

Unrefined gold and silver bullion bars usually consisting of approximately 90 percent precious metals which will be further refined to almost pure metal.

Drill indicated reserves

The size and quality of a potential ore body as suggested by widely spaced drill holes; more work is required before reserves can be classified as probable or proven.

Due diligence

The degree of care and caution required before making a decision; loosely, a financial and technical investigation to determine whether an investment is sound.

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E

EM survey

A geophysical survey method which measures the electromagnetic properties of rocks.

En echelon

Roughly parallel but staggered structures.

Equity financing

The provision of funds by the sale of shares.

Era

A large division of geologic time, the Precambrian era, for example.

Escrowed shares

Shares deposited in trust pending fulfillment of certain conditions, and not ordinarily available to trading until released.

Exploration

Prospecting, sampling, mapping, diamond drilling and other work involved in searching for ore.

 
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F

Fault

A break in the Earth's crust caused by tectonic forces which have moved the rock on one side with respect to the other.

Feasibility study

A definitive engineering study addressing the economic viability of bringing a deposit to the production stage, taking into consideration all associated costs, revenues and risks. The study is used to support the search for project financing.

Feldspar

A group of common rock forming minerals that includes microcline, orthoclase, plagioclase and others.

Fixed Assets

Possessions such as buildings, machinery and land which, as opposed to current assets, are unlikely to be converted into cash during the normal business cycle.

Flotation

A process by which some mineral particles are induced to become attached to bubbles and float, and other particles to sink, so that the valuable minerals are concentrated and separated from the worthless gangue.

Fold

Any bending or wrinkling of rock strata.

Footwall

The rock on the underside of a vein or ore structure.

Fracture

A break in the rock, the opening of which allows mineral bearing solutions to enter. A "cross fracture" is a minor break extending at more or less right angles to the direction of the principal fractures.

Free milling

Ores of gold or silver from which the precious metals can be recovered by concentrating methods without resorting to pressure leaching or other chemical treatment.

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G

Geochemistry

The study of the chemical properties of rocks.

Geology

The science concerned with the study of the rocks which compose the Earth.

Geophysics

The study of the physical properties of rocks and minerals.

Geophysical survey

A scientific method of prospecting that measures the physical properties of rock formations. Common properties investigated include magnetism, specific gravity, electrical conductivity and radioactivity.

Grab sample

A sample from a rock outcrop that is assayed to determine if valuable elements are contained in the rock. A grab sample is not intended to be representative of the deposit, and usually the best looking material is selected.

Grade

The amount of valuable mineral in each ton of ore, expressed as troy ounces per ton for precious metals and as a percentage for other metals.

Granite

A coarse grained intrusive igneous rock consisting of quartz, feldspar and mica.

Greenstone belt

An area underlain by metamorphosed volcanic and sedimentary rocks, usually in a continental shield.

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H

Hanging wall

The rock on the upper side of a vein or ore deposit.

Heap leaching

A process whereby valuable metals, usually gold and silver, are leached from a heap, or pad, of crushed ore by leaching solutions percolating down through the heap and collected from a sloping, impermeable liner below the pad.

High grade

Rich ore. As a verb, it refers to selective mining of the best ore in a deposit.

Holding company

A corporation engaged principally in holding a controlling interest in one or more other companies.

Host rock

The rock surrounding an ore deposit.

Hydrothermal

Relating to hot fluids circulating in the earth's crust.

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I

Infill drilling

Drilling within a group of previously drilled holes to provide a closer spaced pattern to define more accurately the parameters of the ore body.

Igneous rocks

Rocks formed by the solidification of molten material from far below the earth's surface.

Induced polarization

A method of ground geophysical surveying employing an electrical current to determine indications of mineralization.

Intrusive

A body of igneous rock formed by the consolidation of magma intruded into other rocks, in contrast to lavas, which are extruded upon the surface.

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J



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K

Kimberlite

A variety of peridotite; the most common host rock of diamonds.

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L

Landsat:

A series of unmanned satellites orbiting at about 706 km (438 miles) above the surface of the earth. The satellites carry cameras similar to video cameras and take images or pictures showing features as small as 30 m or 80 m wide, depending on which camera is used.

Laterite

A residual soil, usually found in tropical countries, out of which the silica has been leached. May form ore bodies of iron, nickel, bauxite and manganese.

Leachable

Extractable by chemical solvents.

Leaching

A chemical process for the extraction of valuable minerals from ore; also, a natural process by which ground waters dissolve minerals, thus leaving the rock with a smaller proportion of some of the minerals than it contained originally.

Lens

Generally used to describe a body of ore that is thick in the middle and tapers towards the ends.

Lenticular

A deposit having roughly the form of a double convex lens.

Lode

A mineral deposit in solid rock.

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M

Mill

A plant where ore is ground fine and undergoes physical or chemical treatment to extract the valuable metals.

Mafic

Igneous rocks composed mostly of dark, iron and magnesium rich minerals.

Magma

The molten material deep in the Earth from which rocks are formed.

Magnetic gradient survey

A geophysical survey using a pair of magnetometers a fixed distance apart, to measure the difference in the magnetic field relative to height above the ground.

Magnetic survey

A geophysical survey that measures the intensity of the Earth's magnetic field.

Magnetite

Black, magnetic iron ore, an iron oxide.

Magnetometer

An instrument used to measure the magnetic attraction of underlying rocks.

Metallurgy

The study of extracting metals from their ores.

Metamorphic rocks

Rocks which have undergone a change in texture or composition as the result of heat and/or pressure.

Metamorphism

The process by which the form or structure of rocks is changed by heat and pressure.

Migmatite

Rock consisting of thin, alternating layers of granite and schist.

Minable reserves

Ore reserves that are known to be extractable using a given mining plan.

Mineral

A naturally occurring homogeneous substance having definite physical properties and chemical composition and, if formed under favorable conditions, a definite crystal form.

Mineralization

Rock containing an undetermined amount of minerals or metals.

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N

Native metal

A metal occurring in nature in pure form, uncombined with other elements.

Nugget

A small mass of precious metal, commonly found free in nature.

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O

Open pit

A mine that is entirely on surface. Also referred to as open cut or open cast mine.

Option

An agreement to purchase a property reached between the property vendor and some other party who wishes to explore the property further.

Ore

A mixture of ore minerals and gangue from which at least one of the metals can be extracted at a profit.

Ore body

A natural concentration of valuable material that can be extracted and sold at a profit.

Ore Reserves

The calculated tonnage and grade of mineralization which can be extracted profitably; classified as possible, probable and proven according to the level of confidence that can be placed in the data.

Ore shoot

The portion, or length, of a vein or other structure that carries sufficient valuable minerals to be extracted profitably.

Orogeny

A period of mountain building characterized by the folding of a portion of the earth's crust.

Outcrop

An exposure of rock or mineral deposit that can be seen on surface, that is, not covered by soil or water.

Overturned

Where older sedimentary rock beds are lying on top of a younger beds.

Oxide ore

Mineralized rock in which some of the original minerals have been oxidized. Oxidation tends to make the ore more porous and permits a more complete permeation of cyanide solutions so that minute particles of gold in the interior of the minerals will be readily dissolved.

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P

Par value

The stated face value of a stock. Par value shares have no specified face value, but the total amount of authorized capital is set down in the company's charter.

Pegmatite

A coarse grained, igneous rock, and similar to a granite in composition; usually occurs in dykes or veins and sometimes contains valuable minerals.

Pentlandite

Nickel iron sulphide, the most common nickel ore.

Peridotite

An intrusive igneous rock consisting mainly of olivine.

Placer

A deposit of sand and gravel containing valuable metals such as gold, tin or diamonds.

Plutonic

Refers to rocks of igneous origin that have come from great depth.

Porphyry

Any igneous rock in which relatively large crystals , called phenocrysts, are set in a fine-grained groundmass.

Portfolio

A list of financial assets.

Possible reserves

Valuable mineralization not sampled in sufficient detail to accurately estimate its tonnage and grade, or even verify its existence. Also called "inferred reserves."

Prefeasibility Study

The initial stage of the feasibility study in which the accuracy of the factors involved such as costs and revenues is ±25%. Should the prefeasibility study be positive then the company would move to the final feasibility study.

Precambrian Shield

The oldest, most stable regions of the earth's crust, the largest of which is the Canadian Shield.

Private placement

Sale of shares to individuals or corporations outside the normal market, at a negotiated price. Often used to raise capital for a junior exploration company.

Probable reserves

Valuable mineralization not sampled sufficiently to accurately estimate the tonnage and grade. Also called "indicated reserves."

Profit and loss statement

The income statement of a company detailing revenues minus total costs to give total profit.

Prospect

A mining property, the value of which has not been determined by exploration.

Proven reserves

Reserves that have been sampled extensively by closely spaced diamond drill holes and developed by underground workings in sufficient detail to render an accurate estimation of grade and tonnage. Also called "measured reserves."

Proxy

A power of attorney given by the shareholder so that his stock may be voted by his nominee(s) at shareholders' meetings.

Pyrite

A yellow iron sulphide mineral, normally of little value. It is sometimes referred to as "fool's gold".

Pyrrhotite

A bronzecolored, magnetic iron sulphide mineral.

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Q

Quartz

Common rock forming mineral consisting of silicon and oxygen.

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R

Reconnaissance

A preliminary survey of ground.

Recovery

The percentage of valuable metal in the ore that is recovered by metallurgical treatment.

Refining

The final stage of metal production in which impurities are removed from the molten metal.

Regolith

Loose, incoherent material formed at the earths surface.

Reserve grade

Is estimated metal content of an ore body, based on reserve calculations.

Resistivity survey

A geophysical technique used to measure the resistance of a rock formation to an electric current.

Resource

The calculated amount of material in a mineral deposit, based on limited drill information.

Reverse circulation drilling (RC)

A drilling method using a tricone bit to chip the rock and whereby rock cuttings are pushed to the surface through the outer tube by liquid and/or air pressure moving through the inner tube.

Rock

Any natural combination of minerals; part of the earth's crust.

Rotary air blast drilling (RAB)

A drilling method similar to RC drilling except that the rock cuttings are forced to the surface outside the drill tube.

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 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

Sample

A small portion of rock or a mineral deposit taken so that the metal content can be determined by assaying.

Sampling

Selecting a fractional but representative part of a mineral deposit for analysis.

Schist

A foliated metamorphic rock the grains of which have a roughly parallel arrangement; generally developed by shearing.

Shear or shearing

The deformation of rocks by lateral movement along innumerable parallel planes, generally resulting from pressure and producing such metamorphic structures as cleavage and schistosity.

Shear zone

A zone in which shearing has occurred on a large scale.

Shoot

A concentration of mineral values; that part of a vein or zone carrying values of ore grade.

Silica

Silicon dioxide. Quartz is a common example.

Siliceous

A rock containing an abundance of quartz.

Sphalerite

A zinc sulphide mineral; the most common ore mineral of zinc.

Spot price

Current delivery price of a commodity traded in the spot market.

Step out drilling

Holes drilled to intersect a mineralization horizon or structure along strike or down dip.

Stock exchange

An organized market concerned with the buying and selling of common and preferred shares and warrants by stockbrokers who own seats on the exchange and meet membership requirements.

Strike

The direction, or bearing from true north, of a vein or rock formation measure on a horizontal surface.

Strike length

The longest horizontal dimension of an ore body or zone of mineralization.

Stripping ratio

The ratio of the number of tons of waste material removed to one tons of ore removed, used in connection with open pit mining.

Subsidiary company

A company in which the majority of shares (a controlling position) is held by another company.

Sulphide

A compound of sulphur and some other element.

Syncline

A down arching fold in bedded rocks.

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T

Tailings

Finely ground rock material from which economic metals have been removed.

Trench

A long, narrow excavation dug through overburden, or blasted out of rock, to expose a vein or ore structure.

Trend

The direction, in the horizontal plane, of a linear geological feature, such as an ore zone, measured from true north.

Troy ounce

Troy ounce of a fineness of 999.9 parts per 1,000 parts, equal to 31.1034 grams.

Tunnel boring machine

A machine used to excavate a tunnel through soil or rock by mechanical means as opposed to drilling and blasting.

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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.

Volcanic rocks

Igneous rocks formed from magma that has flowed out or has been violently ejected from a volcano.

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W

Wall rocks

Rock units on either side of an ore body. The hanging wall and footwall rocks of an ore body.

Working capital

The liquid resources a company has to meet day to day expenses of operation; defined as the excess of current assets over current liabilities.

Write-offs

Amounts deducted from a company's reported profit for depreciation or pre-production costs. Write-offs are not an out-of-pocket expense, but reduce the amount of taxable profit.

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Z

Zone

An area of distinct mineralization.

Zone of oxidation

That portion of an ore body that has been oxidized.

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