<P> In common mining terminology, an "ore deposit" by definition must have an' ore reserve', and may or may not have additional' resources' . </P> <P> Classification, because it is an economic function, is governed by statutes, regulations and industry best practice norms . There are several classification schemes worldwide, however the Canadian CIM classification (see NI 43 - 101), the Australasian Joint Ore Reserves Committee Code (JORC Code), the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC) and the "chessboard" classification scheme of mineral deposits by H.G. Dill are the general standards . </P> <P> A' Mineral Resource' is a concentration or occurrence of material of intrinsic economic interest in or on the earth's crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction . Mineral Resources are further sub-divided, in order of increasing geological confidence, into inferred, Indicated and measured Categories . </P> <P> Inferred Mineral Resource is the part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence . It is inferred from geological evidence and assumed but not verified geological or grade continuity . It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be of limited or uncertain quality and reliability . </P>

When does a mineral become a mineral resources
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