Resources & Reserves

Resources and Reserves

Pan

2015(1) Measured Indicated M&I Inferred
Cutoff Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
(g/t) ('000s) (g/t) ('000s oz) ('000s) (g/t) ('000s oz) ('000s) (g/t) ('000s oz) ('000s) (g/t) ('000s oz)
0.27 14,221 0.58 264.7 11,075 0.47 167.4 25,298 0.53 433.3 5,456 0.50 88.4
0.21 16,637 0.53 283.3 14,350 0.42 192.8 30,987 0.48 477.1 8,634 0.41 112.5
0.14 18,534 0.49 293.4 17,404 0.38 210.1 35,937 0.44 503.8 13,971 0.31 141.1
 
 

Gold Rock

Resources(2)
Tonnes
Grade
Contained
 
(‘000s)
(g/t)
(‘000s oz)
Measured
1,920
0.81
45
Indicated
21,886
0.78
495
M&I
23,806
0.78
540
Inferred 
32,128
0.64
596

 

Tonopah

Resources(4)
Tonnes
Grade
Contained
 
(‘000s)
(g/t)
(‘000s oz)
Inferred 
114
10.34
34.39

 

Golden Eagle

Resources(5)
Tonnes
Grade
Contained
 
(‘000s)
(g/t)
(‘000s oz)
Indicated
31,400
1.88
1,744
Inferred 
5,100
1.3
192

 

 

Note: Open pit optimization was used to determine potentially mineable tonnage. Measured, indicated and inferred mineral classification was determined according to CIM Standards. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
(1) The Mineral Resource Estimate was prepared by Gustavson. The 2015 Measured, Indicated and Inferred resource was constrained within a $1,500 Lerchs-Grossman Pit shell. The base case estimate applies a cutoff grade of 0.14 g/t is based on the current operating costs, the 2011 Feasibility Study recoveries, and a $1,200 gold price. A complete description of the modeling method, environmental and other project risks will be disclosed in the full technical report to be filed on Sedar within 45 days. Gustavson completed the mineral resource estimate, with Zachary Black acting as the Qualified Person.
(2) Resources as per Amended NI 43-101 compliant Technical Report by Gustavson Associates, LLC (January 2015). Assumes cutoff grade of 0.21 g/t.
(4) Resources as per Independent NI 43-101 compliant Technical Report by Gustavson Associates, LLC (April 2011). Assumes cutoff grade of 3.43 g/t.
(5) Resources as per Independent NI 43-101 compliant Technical Report by Snowden Mining Industry Consultants (July 2009). Assumes cutoff grade of 0.685 g/t.

 

 

 

 



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