Goldstorm Deposit MRE Domains
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.(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 in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.(4) The Mineral Resource Estimate was prepared for a potential open pit scenario using a constrained pit shell (with 45-degree slopes) at a 0.7 g/t gold equivalent cut-off grade and an underground mining scenario using a 0.75 g/t gold equivalent cut-off grade. Cut-off grades were derived from US$ 1,850/oz gold, US$ 21/oz silver, US$ 3.75/lb copper, CAD:USD of 0.77, C$ 2.50/tonne open pit and C$8.50 underground mining cost, C$ 48.25/tonne milled processing costs for the Copper Belle, 300H, R66, DS5 and 300N domains, and C$ 28.50/tonne milled processing costs for the CS-600 domain, and a C$ 1.50/tonne G&A cost. Process recoveries of 90% for gold, 80% for copper, and 80% for silver were used for the CS-600 domain and 90% for gold and 80% for silver with no copper for all other mineral domains(5) AuEq g/t = Au g/t + (Ag g/t*0.01009) + (Cu ppm*0.0001236)(6) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.
(1)Refer to footnotes to the Mineral Resource Estimate in Table 1
(2)The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
(1)Refer to footnotes to the Mineral Resource Estimate in Table 1
(2)The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
(1)Refer to footnotes to the Mineral Resource Estimate in Table 1
(2)The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
(1)Refer to footnotes to the Mineral Resource Estimate in Table 1
(2)The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.
(1)Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2)A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.
Goldstorm Deposit MRE Domains
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.(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 in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.(4) The Mineral Resource Estimate was prepared for a potential open pit scenario using a constrained pit shell (with 50-degree slopes) at a 0.5 g/t gold equivalent cut-off grade and an underground mining scenario using a 0.7 g/t gold equivalent cut-off grade. Cut-off grades were derived from US$ 1,800/oz gold, US$ 20/oz silver, US$ 3.50/lb copper, CAD:USD of 0.77, C$ 2.50/tonne open pit and C$7.50 underground mining cost, C$ 38.50/tonne milled processing costs, C$ 1.50/tonne G&A cost, and process recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.(5) AuEQ g/t = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)(6) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource, and listed "In Pit, External" in Table 4.The Goldstorm sensitivity tables (Tables 2 and 3) report the variation of resource grade and tonnage with respect to the change in cut-off grades for the Indicated and Inferred Mineral Resources.
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1
(2) The MRE utilizes 0.5 g/t AuEQ for the pit-constrained Mineral Resource and 0.7 g/t AuEQ for the underground Mineral Resource.
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1
(2) The MRE utilizes 0.5 g/t AuEQ for the pit-constrained Mineral Resource and 0.7 g/t AuEQ for the underground Mineral Resource.
The Goldstorm Deposit consists of six mineral domains with unique geological characteristics. Five of the domains are gold-dominant with lesser proportions of silver and copper. Domain CS-600 is dominantly gold and copper rich, with lesser silver. The CS-600 hosts the majority of the copper at the Goldstorm Deposit and consists of a well-defined intrusive porphyry system. Table 4 summarizes the Indicated and Inferred Mineral Resources for each mineral domain.
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1
(2) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource, and listed "In Pit, External".
Image of the 3D Constraining Pit Shell showing the 300 Horizon (Purple), CS-600 Zone (Red) DS-5 Zone (Orange) and Copper Belle (Blue).
Pit Shell based on 2021 Resource Estimate.
Mineral Resources are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Re-sources 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.
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 IndicatedMineral Resource with continued exploration.
The Mineral Resources in this news release were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum(CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) andBest Practices Guidelines (2019) prepared by the CIM Standing Committee onReserve Definitions and adopted by the CIM Council.
Metal prices used were US$1,625/oz Au, US$19/oz Ag,US$2.80/lb Cu with process recoveries of 88% Au, 30% Ag and 80% Cu. AC$16.50/tonne process and C$2 G&A cost were used.
The constraining pit optimization parameters were C$2.50/t mineralized and waste material mining cost and 50-degree pit slopes with a 0.30 gpt AuEq cut-off. The out-of-pit parameters were at a C$10/t large scale bulk mining cost.
The out-of-pit Mineral Resource grade blocks were quantified above the 0.46 gpt AuEq 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 a bulk underground mining method.
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