MINERAL RESOURCES AND
ORE RESERVES STATEMENT
- DECEMBER 2012
|
Gold Resources Statement |
Measured |
Indicated |
Inferred |
Total Resources |
||||||||||||
|
Project |
Type |
Cut-Off |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
||
|
Pajingo |
OP |
0.5 |
0.01 |
3.6 |
1 |
0.17 |
5.0 |
28 |
0.32 |
1.2 |
12 |
0.51 |
2.6 |
42 |
||
|
Pajingo1 |
UG |
2.5 |
1.14 |
8.4 |
306 |
3.27 |
5.9 |
621 |
2.06 |
5.1 |
337 |
6.46 |
6.1 |
1,264 |
||
|
Cracow1 |
UG |
2.3 |
0.28 |
8.6 |
79 |
1.11 |
7.7 |
275 |
2.90 |
5.2 |
488 |
4.29 |
6.1 |
842 |
||
|
Edna May1 |
OP |
0.4 |
21.1 |
0.9 |
629 |
16.5 |
1.0 |
514 |
8.18 |
0.9 |
226 |
45.8 |
0.9 |
1,369 |
||
|
Edna May |
UG |
3.0 |
- |
- |
- |
0.63 |
7.2 |
146 |
0.58 |
6.9 |
128 |
1.21 |
7.1 |
273 |
||
|
Mt Carlton |
OP |
0.35 |
9.28 |
2.0 |
587 |
14.7 |
1.5 |
695 |
1.41 |
1.5 |
68 |
25.4 |
1.7 |
1,350 |
||
|
Mt Rawdon1 |
OP |
0.23 |
1.84 |
0.4 |
23 |
51.5 |
0.7 |
1,203 |
3.42 |
0.6 |
62 |
56.7 |
0.7 |
1,288 |
||
|
Twin Hills |
OP |
0.5 |
- |
- |
- |
2.42 |
2.2 |
170 |
0.64 |
1.7 |
35 |
3.06 |
2.1 |
204 |
||
|
Twin Hills |
UG |
2.3 |
0.54 |
4.1 |
71 |
0.32 |
3.5 |
36 |
0.70 |
3.9 |
87 |
1.56 |
3.9 |
194 |
||
|
Sub Total |
34.1 |
1.5 |
1,696 |
90.6 |
1.3 |
3,688 |
20.2 |
2.2 |
1,443 |
145 |
1.5 |
6,827 |
||||
|
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|
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|
|
|
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|
Silver Resources Statement |
Measured |
Indicated |
Inferred |
Total Resources |
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|
Project |
Type |
Cut-Off |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
||
|
Mt Carlton1 |
OP |
* |
11.7 |
57 |
21,437 |
14.9 |
19 |
9,004 |
1.51 |
16 |
796 |
28.1 |
35 |
31,237 |
||
|
Total |
11.7 |
57 |
21,437 |
14.9 |
19 |
9,004 |
1.51 |
16 |
796 |
28.1 |
35 |
31,237 |
||||
|
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|
|
|
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|
|
|
|
|
|
|
|
||
|
Copper Resources Statement |
Measured |
Indicated |
Inferred |
Total Resources |
||||||||||||
|
Project |
Type |
Cut-Off |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
||
|
Mt Carlton1 |
OP |
* |
11.7 |
0.24 |
27.9 |
14.9 |
0.21 |
32.1 |
1.51 |
0.20 |
3.0 |
28.1 |
0.22 |
63.1 |
||
|
Total |
11.7 |
0.24 |
27.9 |
14.9 |
0.21 |
32.1 |
1.51 |
0.20 |
3.0 |
28.1 |
0.22 |
63.1 |
||||
|
Gold Equivalent Resources Statement |
Measured |
Indicated |
Inferred |
Total Resources |
||||||||||||
|
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
|||||
|
Total Group |
36.5 |
1.9 |
2,228 |
90.9 |
1.4 |
3,992 |
20.3 |
2.3 |
1,470 |
148 |
1.6 |
7,691 |
||||
Footnotes:
Data is reported to significant figures and differences may occur due to rounding
Mineral Resources are reported inclusive of Ore Reserves
1 Includes stockpiles
* Combined figure for V2 using 0.35g/t Au cut-off and A39 using 42 g/t Ag cut-off
The gold equivalence calculation represents total metal value for each metal summed and expressed in equivalent gold grade or ounces
The prices used in the calculation being A$1350/oz Au, A$28.00/oz Ag and A$2.00/lb Cu
Metallurgical recovery to concentrate of 90.0% for gold, 92.0% for silver at V2 and 88.0% silver at A39 and 92.0% for copper as indicated by metallurgical testwork.
1 Troy Ounce = 31.1034768 grams
Au Eq for Silver = ( (Price Ag per Oz x Ag Recovery)/(Price Au per Oz x Au Recovery) ) x Ag Grade
Au Eq for Copper = ((Price Cu per lb x 2204.623) x (Cu Recovery)) / (Price Au per Oz x Au Recovery / 31.1034768) x (Cu Grade / 100)
|
Gold Reserves Statement |
Proved |
Probable |
Total Reserve |
||||||||
|
Project |
Type |
Cut-Off |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Million) |
Gold Grade (g/t) |
Gold Metal (koz) |
|
Pajingo |
OP |
0.65 |
0.01 |
3.9 |
1 |
0.17 |
5.6 |
30 |
0.18 |
5.5 |
31 |
|
Pajingo1 |
UG |
3.0 |
0.56 |
7.1 |
129 |
0.88 |
6.0 |
169 |
1.44 |
6.4 |
298 |
|
Cracow1 |
UG |
3.6 |
0.17 |
8.3 |
46 |
1.44 |
4.9 |
226 |
1.61 |
5.3 |
273 |
|
Edna May1 |
OP |
0.4 |
13.4 |
0.9 |
402 |
9.14 |
1.0 |
306 |
22.5 |
1.0 |
709 |
|
Mt Carlton |
OP |
0.69 |
4.52 |
3.1 |
446 |
4.61 |
2.5 |
366 |
9.13 |
2.8 |
812 |
|
Mt Rawdon1 |
OP |
0.3 |
1.08 |
0.5 |
17 |
38.7 |
0.8 |
1,009 |
39.8 |
0.8 |
1,026 |
|
Total |
19.7 |
1.6 |
1,042 |
54.9 |
1.2 |
2,106 |
75 |
1.3 |
3,148 |
||
|
Silver Reserves Statement |
Proved |
Probable |
Total Reserve |
||||||||
|
Project |
Type |
Cut-Off |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
Tonnes (Million) |
Silver Grade (g/t) |
Silver Metal (koz) |
|
Mt Carlton1 |
OP |
** |
5.81 |
69 |
12,969 |
4.61 |
20 |
2,991 |
10.4 |
48 |
15,960 |
|
Total |
5.81 |
69 |
12,969 |
4.61 |
20 |
2,991 |
10.4 |
48 |
15,960 |
||
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|
Copper Reserves Statement |
Proved |
Probable |
Total Reserve |
||||||||
|
Project |
Type |
Cut-Off |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
Tonnes (Million) |
Copper Grade (%) |
Copper Metal (kt) |
|
Mt Carlton1 |
OP |
** |
5.81 |
0.29 |
17.1 |
4.61 |
0.23 |
10.5 |
10.4 |
0.26 |
27.6 |
|
Total |
5.81 |
0.29 |
17.1 |
4.61 |
0.23 |
10.5 |
10.4 |
0.26 |
27.6 |
||
|
Gold Equivalent Reserves Statement |
Proved |
Probable |
Total Reserve |
||||||||
|
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
Tonnes (Million) |
Gold Equiv. Grade (g/t) |
Gold Equiv. Metal (koz) |
|||
|
Total Group |
21.0 |
2.0 |
1,365 |
54.9 |
1.2 |
2,204 |
75.9 |
1.5 |
3,570 |
||
Footnotes:
Data is reported to significant figures and differences may occur due to rounding
1 Includes stockpiles
** Combined figure for V2 using 0.69g/t Au cut-off and A39 using 53 g/t Ag cut-off
The gold equivalence calculation represents total metal value for each metal summed and expressed in equivalent gold grade or ounces
The prices used in the calculation being A$1350/oz Au, A$28.00/oz Ag and A$2.00/lb Cu.
Metallurgical recovery to concentrate of 90.0% for gold, 92.0% for silver at V2 and 88% silver at A39 and 92.0% for copper as indicated by metallurgical testwork.
1 Troy Ounce = 31.1034768 grams
Au Eq for Silver = ( (Price Ag per Oz x Ag Recovery)/(Price Au per Oz x Au Recovery) ) x Ag Grade
Au Eq for Copper = ((Price Cu per lb x 2204.623) x (Cu Recovery)) / (Price Au per Oz x Au Recovery / 31.1034768) x (Cu Grade / 100)
Competent Persons Statement
The information in this presentation that relates to the Mineral Resources or Ore Reserves listed in the table below is based on work compiled by the person whose name appears in the same row, who is employed on a full-time basis by the employer named in that row and is a member of the institute named in that row. Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he or she has undertaken to qualify as a Competent Person as defined by the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (2004 JORC Code). Each person named in the table below consents to the inclusion in this report of the matters based on his or her information in the form and context in which it appears.
|
Resource/Reserve |
Name of Competent Person |
Employer |
Institute |
|
Cracow Mineral Resources |
Shane Pyke |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Cracow Ore Reserves |
Fusheng Li |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Pajingo Mineral Resources |
Calvin Ferguson |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Pajingo Ore Reserves - Open Pit |
Tony Wallace |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Pajingo Ore Reserves - Underground |
Johan Booyse |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Edna May Mineral Resources |
John Winterbottom |
Evolution Mining |
Australian Institute of Geoscientists |
|
Edna May Ore Reserves |
Luke Cox |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Mt Carlton Mineral Resources |
John Winterbottom |
Evolution Mining |
Australian Institute of Geoscientists |
|
Mt Carlton Ore Reserves |
Tony Wallace |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Mt Rawdon Mineral Resources |
Hans Andersen |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Mt Rawdon Ore Reserves |
Tony Wallace |
Evolution Mining |
Australasian Institute of Mining and Metallurgy |
|
Twin Hills Mineral Resources |
John Winterbottom |
Evolution Mining |
Australian Institute of Geoscientists |