Resource / Reserve Estimation Capabilities

Agapito Associates, Inc. (AAI) has significant expertise and experience in resource and reserve evaluation and estimation.

Agapito Associates, Inc. (AAI) provides consulting services in geo-engineering, mining engineering, and related disciplines. Founded in 1978 to meet the needs of the mineral and energy industries, the firm operates out of offices in Grand Junction and Lakewood, Colorado. AAI has provided consulting and engineering services throughout the world to surface, underground, and solution mining companies producing base metals, precious metals, coal, potash, trona, limestone, silica sand, oil shale and salts. Projects include mine design, resource/reserve evaluation, geologic exploration and modeling, solution mine planning, field services, ventilation, mine shaft planning, underground storage caverns, nuclear waste isolation, and ground control design.

Due to our professionals’ experience and diversity, AAI is able to offer our worldwide clients integrated capabilities in resource and reserve evaluation and reporting. During our 41 years in the industry, AAI has authored numerous technical reports documenting resource and/or reserve estimates compiled according to recognized international reporting standards, including the United States Securities and Exchange Commission (SEC) S-K 1300 and Industry Guide 7, National Instrument (NI) 43-101 (Canada), JORC Code (Australia), and SAMREC Code (South Africa). AAI offers a diversified and knowledgeable professional group that includes Qualified/ Competent Persons.


Specific areas of expertise include:

  • Feasibility, prefeasibility, scoping, and preliminary assessment studies
  • Due diligence
  • Exploration and confirmation drilling programs including geological characterization
  • Lithologic, structural, and geotechnical core logging
  • Laboratory geomechanical testing and test program management
  • Geophysical log interpretation
  • Directional and conventional drill planning and field operations management
  • Evaluation of mining methods, including resource characterization, cutoff grades, and selection of mining intervals
  • Cavern design and stability analysis and pilot test planning
  • Development of life-of-mine production, operating plans, and schedules to provide annual tons and grade
  • Development of initial and sustaining capital costs and life-of-mine operating costs, and cost models to evaluate profitability
  • Custom, mine-specific models for project scheduling, production scheduling, production accounting, and cost modeling and evaluation of projects involving new or innivative technology

SEC S-K 1300 Rules


In response to three decades of joint advocacy with the Society of Mining Engineers & Exploration (SME) and the National Mining Association, the United States Securities and Exchange Commission (SEC) adopted regulatory amendments, effective February 25, 2019, to modernize the property disclosure requirements of mining registrants. The amendments are intended to provide investors with a more comprehensive understanding of a registrant’s mining properties, which should help them make more informed investment decisions. Industry Guide 7 will be rescinded and the mining property disclosure requirements moved to a new subpart of Regulation S-K 1300. Registrants engaged in mining operations must comply with the final rule amendments for the first fiscal year beginning on or after January 1, 2021. This change significantly impacts the individuals responsible for reporting resources and reserves.

AAI’s staff have carefully reviewed the new S-K 1300 rules, focusing on the required content for technical reports and the QPs role in the report preparation. We can provide our clients with detailed coverage of the required disclosures and the estimation of engineering and geologic detail such as data validation, commodity pricing, capital and operating cost, cut-off grade, and criteria for resource and reserve classification.

S-K 1300 reporting must be by a Qualified Person (QP), defined as a suitably qualified and experienced mining industry professional(s) who is either a Registered Member of the SME or an eligible member of another Recognized Professional Organization (RPO) subject to an enforceable professional code of ethics and rules of conduct. AAI’s staff include Qualified/Competent Persons for potash, sulfur, coal, uranium, molybdenum, trona, nahcolite, and base metals. AAI is internationally recognized for its expertise regarding potash deposits, especially those for which solution mining will be required.

Have questions?
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In 2017 and 2018, AAI prepared for Shandong Gold 12 Technical Reports for 12 gold properties located in 4 Provinces of the Peoples Republic of China (PRC). The reports were prepared in compliance with the Canadian National Instrument (NI) 43-101 Technical Report in support of Sandong Gold’s Initial Public Offer (IPO) on The Stock Exchange of Hong Kong Limited (HKEx).

On March 7, 2014, IC Potash Corp filed with TSX a report titled “NI 43-101 Technical Report, Ochoa Project Feasibility Study, Lea County, New Mexico, USA,” prepared by AAI

On September 30, 2013, Highfield Resources filed with the ASX a JORC-compliant report titled “Javier-Vipasca Potash Project Maiden Measured and Indicated Mineral Resource,” prepared by AAI. An upgrade of the JORC resource estimate for 100% owned Javier Potash Project was re-submitted May 16, 2014. On May 20, 2014, Highfield Resources delivered the PFS for the Javier Project.

On December 15, 2011, Western Potash Corp. filed with TSX a revised report titled “Updated Technical Report Concerning Mineral Resource Estimates Subsurface Mineral Lease KLSA 008 Saskatchewan” prepared by AAI.

On May 20, 2011, New Elk Coal Company LLC filed with TSX a revised report titled “NI 43-101 Technical Report
of the New Elk Mine Project, Las Animas County, Colorado, USA” prepared by AAI.

On December 6, 2010, Kaminak Gold Corporation filed with TSX a report titled “Technical Report Concerning Potash Potential Nonmetallic Potash Leases, Michigan, Kaminak Gold Corp.” prepared by AAI.

On October 12, 2010, Potash One filed with TSX an updated report titled “Technical Report 2010 Reserve Assessment for Subsurface Mineral Permit KP 289, Saskatchewan” prepared by Agapito Associates, Inc. (AAI) and North Rim Exploration Ltd. (NREL).

On August 6, 2009, Raytec Metals Corp. and Encanto Potash Corp filed with TSX a report titled “Updated Technical Report Concerning Subsurface Mineral Permit Application KP 441, Langham Area, Saskatchewan” prepared by AAI.

On July 7, 2008, Potash North Resource Corporation filed with TSX a report titled “Technical Report Concerning Report to Prospect for Subsurface Minerals KP 416 and KP 417, Yorkton, Area, Saskatchewan” prepared by AAI and NREL.

On April 7, 2009, Transit Holdings Ltd. filed with the Australian Securities Exchange (ASX) a JORC-compliant report titled “Paradox Basin Potash Project Report Exploration Target Estimate for Transit Holdings Ltd” prepared by AAI.


Project Summaries & Publications: Resource / Reserve

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