The phrase
"indicated resource" refers to a term commonly used in the mining industry to estimate the amount of mineral or natural resource present in a specific area. It indicates that there is a reasonable certainty that the resource can be economically extracted based on geological evidence, but with less certainty than a "measured resource." In simple terms, it means there is a good indication of a valuable resource in a certain location, but further exploration and testing are needed to confirm the exact quantity and quality.
Full definition