“Assessment Work” – Word of the Week #6

“Assessment Work” was “Word of the Week”, for the sixth week of 2022. “Word of the Week” is a weekly publication on this website. The word of the week also gets explained more in-depth, during the weekly show “What’s Cheap”. 

According to the SEC glossary, assessment work is the amount of work, specified by mining law, that must be performed each year in order to retain legal control of mining claims.

Basically, if a company’s holding claims over a land, in the US, or in Canada, they have to either pay an annual maintenance fee, or do some work on it. That’s what this refers to.

Read more about assessment work and maintenance costs that mining companies have to comply with, if they want to keep their claims here: https://www.mndm.gov.on.ca/en/mines-and-minerals/mining-sequence/exploration/assessment-work

Am I wrong? Great! I’m here to learn, and need it probably more badly than you do. If you caught a mistake in this article, please start a conversation down below by correcting me and providing further literature for me and future readers to benefit from. Thanks!