Colomac 2013 Resource Estimate
(prepared in accordance with National Instrument 43-101)
- Total Inferred Mineral Resource is estimated to be 39.815 million tonnes with an average grade of 1.64 g/t Au for 2.101 million oz Au (based on all drilling to 2013; 2014 and 2015 drill programs not included)
- 2013 resource update represents a 45.3% increase in contained ounces and a 59% increase in average grade over the previous 2012 resource estimate
- Historically mined volumes of the Colomac mineralization have been deleted from the current resource model.
Colomac Inferred Mineral Resources By Zone
(0.6 G/Tonne Block Model Cut-Off)
|Zone||Tonnes||g/t Au||Oz Au|
- 0.6 g/t Au block cut-off value applied to all resource blocks.
- Tonnes and ounces rounded to reflect the relative accuracy of the mineral resource estimate; therefore numbers may not total correctly.
- Mineral Resources calculated with commercial mining software.
- Drill hole traces showing lithology and gold grade were reviewed in plan and cross section. Geological domains were created using Geological Modeling Software. Assays were top cut to 31 g/t and then composited to regular 5ft intervals. Block model grade interpolation was undertaken using Ordinary Kriging (OK).
- The resource estimate was prepared by Leon McGarry, B.Sc., Geologist, ACA Howe and supervised by Ian Trinder, M.Sc., P.Geo., ACA Howe.
- Gold price is US$1500 per ounce.
- A default average specific gravity (SG) of 2.7 has been used.
- Mineral Resource tonnes quoted are not diluted.
- Mineral resources are not mineral reserves, thus do not demonstrate economic viability. This mineral resource estimate includes Inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them. There is also no certainty that these Inferred mineral resources will be converted to the measured and indicated resource categories through further drilling, or into mineral reserves, once economic considerations are applied.
- 1 troy ounce equals 31.10348 grams.
Colomac Inferred Mineral Resource Estimate
Cut-Off Sensitivity Table
Sensitivity analysis indicates grade increases to 1.94 gpt at a 1.0 gpt cut-off