Wednesday, April 15, 2026
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This study focuses on the rigorous standards for preparing NI 43-101 technical reports, identifying critical errors and "red flags" that can lead to report invalidation or regulatory default. Primary red flags for Qualified Persons (QPs) include failing to conduct a current personal inspection, improperly using Item 3 to disclaim responsibility for technical data, and omitting mandatory cautionary language for historical estimates or Preliminary Economic Assessments (PEAs). Furthermore, using misleading terminology such as "NI 43-101 compliant" or including unauthorized blanket disclaimers can prompt regulators to require the issuer to retract disclosure or refile the report.
To ensure compliance with Form 43-101F1 and the accompanying regulations, QPs must strictly adhere to all mandatory headings and provide a level of detail appropriate to the project's complexity and stage. Practical advice for QPs includes writing in plain language for a non-expert audience, clearly defining responsibilities for specific report sections in certificates, and ensuring all data verification procedures and opinions on data adequacy are robustly documented. QPs should also treat the site visit as a thorough compliance exercise, apply current CIM Best Practice Guidelines, and perform peer reviews of draft reports to catch potential pitfalls before filing.
The bridge between Academy and Industry!
P. Geo. Ricardo A Valls, M. Sc. and Geo Gadfly
Valls Geoconsultant
ORCID ID- https://orcid.org/0000-0002-5421-0914
Scopus Author ID: 7003369619/35335510700
ResearcherID: S-6604-2018
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