Section 13 in The Minerals (Evidence of Mineral Contents) Rules, 2015
13. A Geological Study (F3) is an initial evaluation of Economic Viability. This is obtained by applying meaningful cut off values for grade, thickness, depth, and costs estimated from comparable mining operations. The purpose of the Geological Study is to identify mineralization, to establish continuity, quantity, and quality of a mineral deposit, and thereby define an investment opportunity.
Economic viability categories, however, cannot in general be defined from the Geological Study because of the lack of details necessary for an Economic Viability evaluation. The resource quantities estimated may indicate that the deposit is of intrinsic economic interest, i.e. in the range of economic to potentially economic.
