Resources

Cerro Blanco Mineral Resource Estimate at a 0.4 g/t Au cut-off

Resource Category Tonnes
('000)
Gold Grade
(g/t)
Silver Grade
(g/t)
Contained Au
('000 oz)
Contained
Ag ("000 oz)
Measured 40,947 1.8 7.9 2,382 10,387
Indicated 22,595 1.0 4.2 706 3,058
Measured and Indicated 63,542 1.5 6.6 3,089 13,445
Inferred 1,672 0.6 2.1 31 112
           
Below Pit (Indicated)  189 5.7 13.4 35 82
Stockpile (Measured) 30 5.4 22.6 5 22
  • Prepared by Garth Kirkham (Kirkham Geosystems Ltd.) an Independent Qualified Person in accordance with NI 43-101.
  • Effective date: June 20, 2021. All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required under NI 43-101.
  • Mineral Resources reported demonstrate reasonable prospect of eventual economic extraction, as required under NI 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Resources may be materially affected by environmental, permitting, legal, marketing, and other relevant issues.
  • Cut-off grades are based on a price of US$1,600/oz gold, US$20/oz silver and a number of operating cost and recovery assumptions, including a reasonable contingency factor.
  • An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  • Resources identified below the PEA pit shell that are amenable to underground mining (3.5 g/t cut off)