Mineral Reserves and Resources
Mineral Reserves| Category | Tons
(000's) | Gold
(opt) | Gold
(g/t)* | Contained Gold
(oz) |
| Leach Pad Reserves | ? |
| Proven | 2,895 | 0.017 | 0.58 | 48,500 |
| Probable | 4,220 | 0.017 | 0.58 | 73,200 |
| Less Material Remaining | -260 | 0.017 | 0.58 | -4,500 |
| Total Proven and Probable | 6,855 | 0.017 | 0.58 | 117,200 |
| ? |
| Run-of-Mine Reserves |
| Proven | 2,474 | 0.047 | 1.61 | 116,200 |
| Probable | 1,239 | 0.032 | 1.10 | 40,100 |
| Total Proven and Probable | 3,713 | 0.042 | 1.44 | 156,300 |
| ? |
| Total Reserve Inventory |
| Proven | 5,369 | 0.031 | 1.06 | 164,700 |
| Probable | 5,199 | 0.021 | 0.72 | 108,800 |
| Total Proven and Probable | 10,568 | 0.026 | 0.88 | 273,500 |
- Rounding as required by reporting guidelines may result in summation differences. Tonnage and grade measurements are in Imperial units. Grades are reported in ounces per ton.
- Leach Pad Mineral Reserves have an effective date of June 29, 2017 with the following assumptions: long-term gold price of $1,300/oz; assumed total ore process costs of $10.59/t; metallurgical recovery for gold of 91%, and 24% for silver, refining and smelting cost of $28.39/oz of gold. Allowance has been made for the facility location which excludes 260,000 t; this material must remain in-place, based on the to the heap material mining and tailings placement design.
- Run of Mine Mineral Reserves are effective as of November 30, 2017. Mineral Reserves are reported within the pit designs at a 0.01 opt gold cut-off grade. Pit designs incorporate the following considerations: base case gold price of $1,300/oz; pit slope angles that range from 38--47o; average life-of-mine metallurgical recovery assumption of 93%; crushing costs of $1.81/t, process cost of $5.79/t, general and administrative and tax costs of $2.90/t; and average mining costs of $1.42/t mined
- The Qualified Person for both estimates is Mr. Jeffery Choquette P.E., an employee of Hard Rock Consulting.
- *Titan shows g/t gold for reporting purposes only (1 oz./short ton = 34.2857 grams/tonne).
|
Mineral Resources| Category | Tons
(000's) | Gold
(opt) | Gold
(g/t)* | Contained Gold
(oz) |
| Leach Pad Resources | ? |
| Measured | 2,895 | 0.017 | 0.58 | 48,500 |
| Indicated | 4,220 | 0.017 | 0.58 | 73,200 |
| Total Measured and Indicated | 7,117 | 0.017 | 0.58 | 121,700 |
| ? | ? |
| Run-of-Mine Resources |
| Measured | 2,088 | 0.074 | 2.53 | 155,200 |
| Indicated | 1,094 | 0.066 | 2.26 | 72,600 |
| Total Measured and Indicated | 3,183 | 0.072 | 2.47 | 227,800 |
| ? | ? |
| Total Resource Inventory |
| Measured | 4,983 | 0.041 | 1.40 | 203,700 |
| Indicated | 5,314 | 0.027 | 0.93 | 145,800 |
| Total Measured and Indicated | 10,300 | 0.034 | 1.16 | 349,500 |
- Rounding as required by reporting guidelines may result in summation differences. Tonnage and grade measurements are in Imperial units. Grades are reported in ounces per ton.
- Leach Pad Mineral Resources have an effective date of June 29, 2017 with the following assumptions: a long-term gold price of $1,216/oz; assumed process costs of $11/t; and metallurgical recovery for gold of 91%. Silver was not used in the consideration of reasonable prospects for eventual economic extraction. Silver recoveries from heap leach pad material are projected to be 24%.
- Run of Mine Mineral Resources have an effective date of November 30, 2017 and are reported within the pit designs at a 0.01 opt gold cut-off grade. These Mineral Resource are considered to be amenable to open-pit mining. Conceptual Whittle pit shells used the following assumptions: a long-term gold price of $1,350/oz; assumed combined operating costs of $12.36/t (mining, process, general and administrative); metallurgical recovery for gold of 95%, and variable pit slope angles that ranged from 38–42o. Mineral Resources are constrained to the area within the grade-shell wireframes. The areas outside of these grade shells are assumed to be at zero grade.
- The Qualified Person for both estimates is Mr. Ian Crundwell, P.Geo., of Mine Technical Services.
- Mineral Resources are quoted inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- *Titan shows g/t for reporting purposes only (1 oz./short ton = 34.2857 grams/tonne).
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