Zone | Indicated Resource | Inferred Resource | |||||
Tonnes (t) |
Grade Ag (g/t) |
Contained Metal Ag (Troy oz) |
Tonnes (t) |
Grade Ag (g/t) |
Contained Metal Ag (Troy oz) |
||
Vertikalny Central |
720,000 | 1,130 | 26,300,000 | 350,000 | 762 | 8,500,000 | |
Vertikalny Northwest |
200,000 | 476 | 3,100,000 | ||||
Nizhny Endybal |
710,000 | 316 | 7,200,000 | ||||
Mangazeisky North |
334,000 | 770 | 8,250,000 | 127,000 | 560 | 2,300,000 | |
Mangazeisky South |
60,000 | 246 | 500,000 | ||||
Sterzhnevoy | 48,000 | 1,530 | 2,360,000 | ||||
Silver Total | 1,054,000 | 1,016 | 34,550,000 | 1,495,000 | 499 | 23,960,000 | |
Zone | Inferred Resource | ||||||
Tonnes (t) |
Grade Au (g/t) |
Grade Ag (g/t) |
Grade Cu (%) |
Contained Metal Au (Troy oz) |
Contained Metal Ag (Troy oz) |
Contained Metal Cu (lbs) |
|
Porphirovy | 80,000 | 1.7 | 46 | 0.6 | 4,000 | 115,000 | 1,000,000 |
Notes:
The effective date of the Sterzhnevoy and Porphirovy maiden resources is August 27, 2016. The effective date of the Vertikalny Central resource is December 4, 2017 and the Vertikalny Northwest Resource is February 10, 2015. The effective date of the original Nizhny Endybal Resource estimate was September 11, 2012, this resource was re-stated with a higher cut-off grade on the June 10, 2015. The effective date of the Mangazeisky North is October 19, 2016 and the Mangazeisky South resource is June 10, 2015.
Category |
Quantity |
Ag Grade |
Ag Metal |
Proven – Open Pit |
- |
- |
- |
Proven – Underground |
- |
- |
- |
Probable – Open Pit |
400 |
1,083 |
13,934 |
Probable – Underground |
458 |
569 |
8,375 |
Total Mineral Reserves |
858 |
809 |
22,309 |
Notes on Mineral Reserves: The mineral reserve statement is as of 23th day of September 2016. Mining will comprise two sequential phases: open pit and underground. The open pit (the first four years of production) will consist of a conventional drill, blast, load, and haul operation, using the current fleet on site, supplemented with leased equipment. Capital for the open pit will only be spent on trucks, lighting units, pumps, site office facility, and light vehicles.
As Vertikalny is a steeply dipping ore body in the range of 60 to 90°, for underground mining the shrinkage stoping method using a modern, trackless style operation with electrical powered jumbos will be employed. Mining will advance from the bottom upwards in horizontal slices, with a portion of the broken ore left in place from which miners can work. Three areas were identified for the mine design: the North, Central, and South zones. The North and Central zones will be accessed by ramp and the South Zone by adit.
In accordance with Russian standard practice the open pit design includes 30% dilution and 95% mining recovery. Given the selectivity of the underground mining method and equipment, the dilution was limited to 15 cm on each of the hanging wall and footwall (30 cm total) and integrated into the stope optimisation process. It is assumed that 95% of the diluted material, including pillar material, will be recovered. The open pit and underground cut-off grades are 250 g/t and 450 g/t, respectively.A quality assurance/ quality control program is part of the drilling program on the Mangazeisky deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. Prior to 2011, analysis was carried out at Russian certified laboratories in Yakutsk and Aldan, Russia. Analysis for 2011, 2012, 2013, 2014 and 2015 campaigns were completed by ALS Chemex in Chita, Russia.
The effective date of the Mineral Resource Estimate is December 4, 2017. Tetra Tech has adopted the definition of Mineral Resources as outlined within the CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2010) in order to classify the Resources. The updated Mineral Resource estimate was prepared by Mr. Joe Hirst, B.Sc., M.Sc. European Geologist (EurGeol) and Chartered Geologist (CGeol). Mr. Hirst was a resource geologist at Tetra Tech and is a "qualified person" as such term is defined in the NI 43-101. Previous updated Mineral Resource estimates were prepared by Mr. Robert Davies, B.Sc., European Geologist (EurGeol) and Chartered Geologist (CGeol). Mr. Davies was Senior Resource Geologist at Tetra Tech and is a "qualified person" as such term is defined in NI 43-101.
Note: