Sec. 7. Definitions
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In this Act— The term inventory means an accounting of known mineral occurrences and mineral deposits, including documentation of identified resources. The term mineral assessment means an assessment of undiscovered mineral resources that includes a qualitative assessment and a quantitative assessment of such resources. The term qualitative assessment means a geologic-based delineation (mapping) of areas permissive for the occurrence of undiscovered mineral resources, based on all available geotechnical data including geology, geophysics, geochemistry, remote sensing, and mineral localities data.
The term quantitative assessment means a probabilistic estimate of the quantity and quality by tonnage and grade of undiscovered mineral resources in areas delineated as permissive for occurrence in a qualitative assessment.