Warintza In-Pit Mineral Resource Estimate Summary and Cut-Off Grade Sensitivity
Cut-off | Category | Tonnage | Grade | Contained Metal | ||||||
---|---|---|---|---|---|---|---|---|---|---|
CuEq (%) |
(Mt) | CuEq (%) |
Cu (%) |
Mo (%) |
Au (g/t) |
CuEq (Mt) |
Cu (Mt) |
Mo (Mt) |
Au (Moz) |
|
0.2% | Indicated | 736 | 0.52 | 0.40 | 0.02 | 0.05 | 3.84 | 2.95 | 0.18 | 1.11 |
Inferred | 1,558 | 0.37 | 0.31 | 0.01 | 0.03 | 5.80 | 4.80 | 0.19 | 1.63 | |
0.3% (Base) |
Indicated | 579 | 0.59 | 0.47 | 0.03 | 0.05 | 3.45 | 2.70 | 0.15 | 0.93 |
Inferred | 887 | 0.47 | 0.39 | 0.01 | 0.04 | 4.17 | 3.48 | 0.13 | 1.08 | |
0.4% | Indicated | 442 | 0.67 | 0.54 | 0.03 | 0.05 | 2.97 | 2.38 | 0.12 | 0.77 |
Inferred | 539 | 0.55 | 0.47 | 0.01 | 0.04 | 2.96 | 2.53 | 0.08 | 0.71 | |
‘Indicative Starter Pit’ | ||||||||||
0.6% | Indicated | 180 | 0.82 | 0.67 | 0.03 | 0.07 | 1.49 | 1.20 | 0.06 | 0.38 |
Inferred | 107 | 0.73 | 0.64 | 0.02 | 0.05 | 0.79 | 0.69 | 0.02 | 0.17 |
- The mineral resource estimates are reported in accordance with the CIM Definition Standards for Mineral Resources & Mineral Reserves, adopted by CIM Council May 10, 2014.
- Reasonable prospects for eventual economic extraction assume open-pit mining with conventional flotation processing and were tested using NPV Scheduler™ pit optimization software with the following assumptions: metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au; operating costs of US$1.50/t + US$0.02/t per bench for mining, US$4.50/t milling, US$0.90/t G&A; recoveries of 90% Cu, 85% Mo, and 70% Au.
- Resource includes grade capping and internal dilution. Grade was interpolated by ordinary kriging populating a block model with block dimensions of 25m x 25m x 15m.
- The ‘Indicative Starter Pit’ is based on the same assumptions as the Resource except utilized metal prices of US$1.00/lb Cu, US$7.50/lb Mo, and US$750/oz Au. No economic analysis has been completed by the Company and there is no guarantee an indicative starter pit will be realized or prove to be economic.
- Mineral resources that are not mineral reserves do not have demonstrated economic viability.
- Copper equivalent assumes recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical testwork, and metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au. CuEq formula: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t).
- The Qualified Person is Mario E. Rossi, FAusIMM,RM-SME, Principal Geostatistician of Geosystems International Inc.
- All figures are rounded to reflect the relative accuracy of the estimate.
- The effective date of the mineral resource estimate is April 1, 2022.
The corresponding Technical Report disclosing the mineral resource in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") will be prepared by Mr. Rossi and available on SEDAR under the Company's profile at www.sedar.com within 45 days of the April 18, 2022 press release announcing the updated resource.