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Ore Reserves and Mineral Resources (including Competent Persons Statement) |
Ore Reserves and Mineral Resources
as at 30 June 2017
| Source | Category | Tonnes | Grade (g/t) | Contained Metal | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Gold | Silver | Au Equiv. | Ag Equiv. | Gold | Silver | Au Equiv. | Ag Equiv. | |||
| (Million) | (g/t) | (g/t) | (g/t) | (g/t) | (M oz) | (M oz) | (M oz) | (M oz) | ||
| CHATREE | Proved | – | – | – | – | – | – | – | – | – |
| Probable | – | – | – | – | – | – | – | – | – | |
| Total | – | – | – | – | – | – | – | – | – | |
| NUEVA ESPERANZA | Proved | – | – | – | – | – | – | – | – | – |
| Probable | 17.1 | 0.5 | 87 | 2.0 | 117 | 0.30 | 47.8 | 1.10 | 64.3 | |
| Total | 17.1 | 0.5 | 87 | 2.0 | 117 | 0.30 | 47.8 | 1.10 | 64.3 | |
| TOTAL | Proved | – | – | – | – | – | – | – | – | – |
| Probable | 17.1 | 0.5 | 87 | 2.0 | 117 | 0.30 | 47.8 | 1.10 | 64.3 | |
| Total | 17.1 | 0.5 | 87 | 2.0 | 117 | 0.30 | 47.8 | 1.10 | 64.3 | |
Mineral Resources (Inclusive of Ore Reserves)
| Source | Category | Tonnes | Grade | Contained Metal | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gold | Silver | Au Equiv. | Ag Equiv. | Gold | Silver | Au Equiv. | Ag Equiv. | |||||
| (Million) | (g/t) | (g/t) | (g/t) | (g/t) | (M oz) | (M oz) | (M oz) | (M oz) | ||||
| CHATREE | Measured | 73.2 | 0.69 | 6.20 | 0.74 | 100 | 1.63 | 14.6 | 1.74 | 237 | ||
| Indicated | 49.8 | 0.64 | 5.58 | 0.68 | 93 | 1.02 | 8.9 | 1.09 | 148 | |||
| Inferred | 40.6 | 0.59 | 4.50 | 0.62 | 85 | 0.77 | 5.9 | 0.81 | 111 | |||
| Total | 163.6 | 0.65 | 5.59 | 0.69 | 94 | 3.42 | 29.4 | 3.64 | 496 | |||
| NUEVA ESPERANZA | Measured | 1.6 | 0.01 | 93 | 1.56 | 94 | 0.0005 | 4.8 | 0.08 | 4.8 | ||
| Indicated | 27.2 | 0.46 | 73 | 1.67 | 100 | 0.40 | 63.8 | 1.46 | 87.9 | |||
| Inferred | 10.6 | 0.30 | 43 | 1.00 | 60 | 0.09 | 14.8 | 0.33 | 20.0 | |||
| Total | 39.4 | 0.39 | 66 | 1.48 | 89 | 0.49 | 83.4 | 1.88 | 112.7 | |||
| TOTAL | Measured | 74.8 | 0.68 | 8.06 | 0.76 | 100 | 1.63 | 19.4 | 1.82 | 241 | ||
| Indicated | 77.0 | 0.58 | 29.4 | 1.03 | 95 | 1.42 | 72.7 | 2.55 | 236 | |||
| Inferred | 51.2 | 0.53 | 12.5 | 0.70 | 80 | 0.86 | 20.7 | 1.14 | 131 | |||
| Total | 203.0 | 0.60 | 17.3 | 0.85 | 93 | 3.91 | 112.8 | 5.51 | 608 | |||
Notes to Ore Reserves and Mineral Resources table:
- Rounding of figures causes some numbers to not add correctly.
- Nueva Esperanza Equivalent factors:
Silver Equivalent: AgEq (g/t) = Ag (g/t) + Au (g/t) x 60.
Gold Equivalent: AuEq (g/t) = Au (g/t) + Ag (g/t) / 60.
Calculated from prices of US$1200/oz Au and US$19.00/oz Ag, and metallurgical recoveries of 80% Au and 84% Ag estimated from test work by Kingsgate. - Chatree Equivalent factors:
Gold Equivalent: AuEq/t = Au (g/t) + Ag (g/t) /136.
Silver Equivalent: AgEq g/t = Au (g/t) x 136 + Ag g/t.
Calculated from prices of US$1200/oz Au and US$19.00/oz Ag and metallurgical recoveries of 83.3% Au and 38.7% Ag based on metallurgical testwork and plant performance. - Cut-off grades for Resources are:
Chatree 0.30 g/t Au, Nueva Esperanza 0.5g/t AuEq. - Nueva Esperanza Reserves are based on a floating cut-off grade method. In this method each Resource block is subjected to a series of estimates to generate revenue and cost fields that are used to determine a breakeven cut-off grade.
- Cut-off grade for Chatree Ore Reserves is 0.35 g/t Au.
- It is in the Company’s opinion that all the elements included in the metal equivalent calculations have a reasonable potential to be recovered.
- Please refer to ASX:KCN release published 14 April 2016 titled, “Nueva Esperanza Pre-Feasibility Study Confirms Kingsgate Growth Strategy” for details on Mineral Resources, Ore Reserves and JORC 2012 Table 1.
Chatree Ore Reserves (with a Metallurgical Licence granted)
The table below shows what the Chatree Reserve would be if the Metallurgical Licence was granted in the future.
| Source | Category | Tonnes | Grade | Contained Metal | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Gold | Silver | Au Equiv. | Ag Equiv. | Gold | Silver | Au Equiv. | Ag Equiv. | |||
| (Million) | (g/t) | (g/t) | (g/t) | (g/t) | (M oz) | (M oz) | (M oz) | (M oz) | ||
| Chatree | Proved | 26.1 | 0.77 | 6.70 | 0.82 | 102 | 0.65 | 6.2 | 0.70 | 95 |
| Probable | 9.3 | 0.80 | 7.04 | 0.85 | 116 | 0.24 | 2.1 | 0.25 | 34.6 | |
| Total | 35.4 | 0.78 | 6.79 | 0.83 | 106 | 0.89 | 8.3 | 0.95 | 130 | |
Notes:
-
- 1. For the material in the table above to become a JORC 2012 Ore Reserve, the Thai Department of Primary Industries and Mines need to grant the Chatree Gold Mine a Metallurgical Licence.
- 2. The information in the table above is not currently an Ore Reserve under JORC reporting requirements.