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Reserves & Resources

Zgounder Resources

Area Classification Cut-Off (Ag g/t) Tonnes (k) Ag (g/t) Ag (k oz)
Pit-Constrained Measured 70 534 301 5,158
Indicated 70 150 190 916
M&I 70 684 277 6,074
 
Out-of-Pit Measured 125 3,052 303 29,704
Indicated 125 885 275 7,815
M&I 125 3,937 296 37,519
Inferred 125 59 209 395
 
Tailings Indicated 50 272 94 817
 
Total Measured 70 & 125 3,586 302 34,862
Indicated 50, 70 & 125 1,307 227 9,548
M&I 50, 70 & 125 4,893 282 44,410
Inferred 125 59 209 395

 

  1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that mineral resources will be converted to mineral reserves.
  2. The Inferred mineral resource in this estimate has a lower level of confidence than that applied to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of the inferred mineral resource could be upgraded to an indicated mineral resource with continued exploration.
  3. The mineral resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council, as may be amended from time to time.
  4. A silver price of US$20/oz with a process recovery of 85%, US$30/tonne rock process cost, US$20/tonne tailings process cost and US$7/tonne G&A cost were used.
  5. The constraining pit optimization parameters were US$2/t mineralized and waste material mining cost and 50-degree pit slopes with a 70 g/t Ag cut-off.
  6. The out-of-pit parameters used a US$30/tonne mining cost. The out-of-pit mineral resource grade blocks were quantified above the 125 g/t Ag cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Out–of-pit mineral resources exhibit continuity and reasonable potential for extraction by the cut and fill underground mining method.
  7. The tailings parameters were at a US$2/tonne mining cost, and mineral resource grade blocks were quantified above the 50 g/t Ag cut-off.
  8. Individual calculations in tables and totals may not sum correctly due to rounding of original numbers.
  9. Grade capping of Ag outliers using thresholds based on statistical distribution for each geological domain were as follows: Domain SE100 (7.4 kg/t), Domain NW200 (6.5 kg/t), Domain NE300 (2.3 kg/t), and Domain SW400 (7.4 kg/t).
  10. Block bulk density was determined from measurements taken from core samples and averaged 2.75 t/m3 for the main mineralized host rock type.
  11. 1.2m composites were used during grade estimation.
  12. Previously mined areas of the deposit were depleted from the mineral resource estimate.