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Ore Reserves and Mineral Resources (including Competent Persons Statement) |
Ore Reserves
as at 30 June 2021
| Source | Category | Tonnes | Grade (g/t) | Contained Metal | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Gold | Silver | Gold | Silver | |||||||
| (Million) | (g/t) | (g/t) | (M oz) | (M oz) | ||||||
| CHATREE | Proved | – | – | – | – | – | ||||
| Probable | – | – | – | – | – | |||||
| Total | – | – | – | – | – | |||||
| NUEVA ESPERANZA | Proved | – | – | – | – | – | ||||
| Probable | 17.1 | 0.5 | 87 | 0.30 | 47.8 | |||||
| Total | 17.1 | 0.5 | 87 | 0.30 | 47.8 | |||||
| TOTAL | Proved | – | – | – | – | – | ||||
| Probable | 17.1 | 0.5 | 87 | 0.30 | 47.8 | |||||
| Total | 17.1 | 0.5 | 87 | 0.30 | 47.8 | |||||
Mineral Resources (Inclusive of Ore Reserves)
| Source | Category | Tonnes | Grade | Contained Metal | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gold | Silver | Gold | Silver | |||||||||
| (Million) | (g/t) | (g/t) | (M oz) | (M oz) | ||||||||
| CHATREE | Measured | 73.2 | 0.69 | 6.20 | 1.63 | 14.6 | ||||||
| Indicated | 49.8 | 0.64 | 5.58 | 1.02 | 8.9 | |||||||
| Inferred | 40.6 | 0.59 | 4.50 | 0.77 | 5.9 | |||||||
| Total | 163.6 | 0.65 | 5.59 | 3.42 | 29.4 | |||||||
| NUEVA ESPERANZA | Measured | 1.6 | 0.01 | 93 | 0.0005 | 4.8 | ||||||
| Indicated | 27.2 | 0.46 | 73 | 0.40 | 63.8 | |||||||
| Inferred | 10.6 | 0.30 | 43 | 0.09 | 14.8 | |||||||
| Total | 39.4 | 0.39 | 66 | 0.49 | 83.4 | |||||||
| TOTAL | Measured | 74.8 | 0.68 | 8.06 | 1.63 | 19.4 | ||||||
| Indicated | 77.0 | 0.58 | 29.4 | 1.42 | 72.7 | |||||||
| Inferred | 51.2 | 0.53 | 12.5 | 0.86 | 20.7 | |||||||
| Total | 203.0 | 0.60 | 17.3 | 3.91 | 112.8 | |||||||
Notes to Ore Reserves and Mineral Resources table:
- Rounding of figures causes some numbers to not add correctly.
- Nueva Esperanza metallurgical recoveries: 80% Au and 84% Ag estimated from test work by Kingsgate.
- Chatree metallurgical recoveries: 83.3% Au and 38.7% Ag based on metallurgical test work and plant performance.
- Cut-off grades for Resources are: Chatree 0.30 g/t Au, Nueva Esperanza 0.5g/t AuEq60 (assuming metal prices of USD1,200/oz Au, USD19.00/oz Ag and metallurgical recoveries as per (2) above.
- Nueva Esperanza Ore 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.
- 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 – With Metallurgical Licence Granted
The table below shows what the Chatree Reserve will be when the Metallurgical Licence is re-activated assuming a gold price of US$1,200 per ounce.
| Source | Category | Tonnes | Grade | Contained Metal | ||
|---|---|---|---|---|---|---|
| Gold | Silver | Gold | Silver | |||
| (Million) | (g/t) | (g/t) | (M oz) | (M oz) | ||
| Chatree | Proved | 26.1 | 0.77 | 6.70 | 0.65 | 6.2 |
| Probable | 9.3 | 0.80 | 7.04 | 0.24 | 2.1 | |
| Total | 35.4 | 0.78 | 6.79 | 0.89 | 8.3 | |
Notes:
-
- The information in the table above is not currently an Ore Reserve under JORC reporting requirements.