Alamos Reports a 31% Increase in Total Measured and Indicated
Mineral Resources and a 16% Increase in High Grade Underground
Mineral Reserves
TORONTO, ONTARIO--(Marketwired - Mar 31, 2014) -
All amounts are in United States dollars, unless otherwise
stated.
Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) ("Alamos" or the "Company")
today reported its updated mineral reserves and resources as of
December 31, 2013. For a detailed summary of mineral reserves and
resources by project, refer to the table below.
Highlights
- Proven and Probable mineral reserves at Mulatos of 2.03 million
ounces of gold, which at current throughput rates, implies a
remaining reserve life of approximately eight years.
- Mineral reserve grade increased 8% to 1.15 grams per tonne of
gold ("g/t Au"), while ounces decreased 14%, reflecting depletion
and the use of lower gold price assumption, resulting in a smaller
but higher quality mineral reserve at Mulatos.
- Increased the grade of the underground mineral reserves (at San
Carlos and Escondida Deep) by 41% to 7.1 g/t Au. Total high grade
underground mineral reserve ounces increased 16%.
- Increased Measured and Indicated mineral resources by 31% to
6.67 million ounces of gold at various cut-off grades, marking a
24% increase on a per share basis reflecting the acquisition of the
Esperanza Gold Project.
- In Turkey, increased Measured and Indicated mineral resources
by 20% to 2.92 million ounces and improved the grade by 8% driven
by the conversion of 80% of the inferred mineral resource at
Çamyurt.
- Increased Inferred mineral resources by 142% to 3.68 million
ounces of gold at various cut-off grades, representing a 129%
increase on a per share basis reflecting the acquisitions of the
Esperanza Gold Project and Quartz Mountain Property.
TOTAL MINERAL RESERVES AND RESOURCES |
|
|
20131 |
|
20122 |
|
% Change |
PROJECT |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
|
|
(000) |
|
(g/t Au) |
|
Ounces |
|
(000) |
|
(g/t Au) |
|
Ounces |
|
|
|
|
|
Ounces |
PROVEN AND PROBABLE MINERAL RESERVES |
|
|
|
|
|
|
|
|
|
|
|
|
Mulatos Mine |
|
45,053 |
|
0.93 |
|
1,345,222 |
|
59,683 |
|
0.90 |
|
1,728,059 |
|
-25% |
|
3% |
|
-22% |
UG Reserve |
|
961 |
|
7.10 |
|
219,285 |
|
1,169 |
|
5.04 |
|
189,663 |
|
-18% |
|
41% |
|
16% |
Existing stockpiles |
|
4,508 |
|
1.68 |
|
243,640 |
|
3,721 |
|
1.90 |
|
227,364 |
|
21% |
|
-12% |
|
7% |
La Yaqui |
|
1,574 |
|
1.58 |
|
79,826 |
|
1,574 |
|
1.58 |
|
79,826 |
|
0% |
|
0% |
|
0% |
Cerro Pelon |
|
2,673 |
|
1.64 |
|
140,525 |
|
2,673 |
|
1.64 |
|
140,525 |
|
0% |
|
0% |
|
0% |
TOTAL |
|
54,769 |
|
1.15 |
|
2,028,498 |
|
68,820 |
|
1.07 |
|
2,365,437 |
|
-20% |
|
8% |
|
-14% |
MEASURED AND INDICATED MINERAL RESOURCES (exclusive of
mineral reserves) |
Mulatos - OP & UG |
|
73,761 |
|
1.06 |
|
2,515,192 |
|
81,783 |
|
1.01 |
|
2,643,276 |
|
-10% |
|
5% |
|
-5% |
Turkey |
|
139,851 |
|
0.65 |
|
2,920,258 |
|
126,274 |
|
0.60 |
|
2,437,889 |
|
11% |
|
8% |
|
20% |
Esperanza |
|
46,677 |
|
0.82 |
|
1,237,000 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
TOTAL |
|
260,289 |
|
0.80 |
|
6,672,450 |
|
208,057 |
|
0.76 |
|
5,081,165 |
|
25% |
|
5% |
|
31% |
INFERRED MINERAL RESOURCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mulatos - OP & UG |
|
10,689 |
|
0.93 |
|
320,958 |
|
17,531 |
|
0.89 |
|
501,548 |
|
-39% |
|
5% |
|
-36% |
Turkey |
|
23,867 |
|
0.52 |
|
398,053 |
|
50,199 |
|
0.63 |
|
1,017,392 |
|
-52% |
|
-18% |
|
-61% |
Esperanza |
|
3,974 |
|
0.85 |
|
109,000 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
Quartz Mountain |
|
110,448 |
|
0.80 |
|
2,848,000 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
TOTAL |
|
148,978 |
|
0.77 |
|
3,676,011 |
|
67,730 |
|
0.70 |
|
1,518,940 |
|
120% |
|
10% |
|
142% |
(1) For a detailed summary of mineral reserves and
resources by project, refer to tables 1-17 (2)For a detailed
summary of the 2012 mineral reserves and resources, see press
release dated April 1, 2013 |
Mineral
Reserves
Proven and Probable mineral reserves at Mulatos decreased 14% to
2.03 million ounces at December 31, 2013 reflecting the use of a
more conservative gold price assumption of $1,250 per ounce in
estimating the 2013 mineral reserves, compared to $1,400 in 2012,
depletion and higher operating cost assumptions. Although ounces
decreased, grades increased 8% to 1.15 g/t Au, consistent with a
smaller but higher quality mineral reserve. The improvement in
grade was driven by a 43% increase in the underground grade at San
Carlos. A detailed summary of Proven and Probable mineral reserves
for the Mulatos Mine as of December 31, 2013 is presented in Table
1 at the end of this press release.
Open Pit Mineral Reserves
The grade of the Mulatos Mine open pit, which is the source of
the heap leach production, increased 3% to 0.93 g/t Au. Adjusting
to remove the Escondida High Grade Zone open pit ore from the 2012
reserve, which is now virtually depleted, the 2013 Mulatos Mine
open pit grade of 0.93 g/t Au represents a 7% increase compared to
2012, and a 9% increase relative to the Company's budgeted heap
leach grade of 0.85 g/t Au in 2014. The mineral reserve estimates
for the Cerro Pelon and La Yaqui satellite deposits are unchanged
from prior years and remain based on an $800 per ounce gold price.
The higher grade nature of these two deposits of 1.6 g/t Au
highlights the potential for low cost production growth from these
projects starting in 2016.
Underground Mineral Reserves
A successful exploration program at San Carlos resulted in an
18% or 32,000 ounce increase in high grade underground Proven and
Probable mineral reserves to now total 209,500 ounces and a 43%
increase in grade. San Carlos represents the primary source of high
grade mill feed for the next four years, based on current
throughput rates. The mineral reserve grade of 7.02 g/t Au
represents a significant improvement from the previous mineral
reserve grade of 4.92 g/t Au and the 5.3 g/t Au budgeted for high
grade mill feed in 2014. In addition to the positive mineral
reserve growth at San Carlos, Measured and Indicated mineral
resources nearly doubled to 123,800 ounces, with the grade
increasing to 6.16 g/t Au. The Company expects that with additional
drilling, there is an opportunity to upgrade these mineral
resources to mineral reserves.
The success at San Carlos was the product of an aggressive
exploration program in 2013 following up on high-grade
mineralization along trend of the Northeast Extension. This area
remains open for further delineation at depth and along strike,
with ongoing drilling focused on adding new mineral resources and
the conversion of existing mineral resources to mineral reserves.
Including underground definition drilling, the Company has budgeted
$13.3 million for exploration at Mulatos in 2014 with a significant
portion being allocated to San Carlos.
Based on the 2014 budgeted average throughput rate at the
Mulatos Mine of 17,000 tonnes per day ("tpd") and a projected 700
tpd rate for the high grade mill, the remaining mineral reserve
life of the Mulatos Mine is approximately eight years as of
December 31, 2013. The life-of-mine waste-to-ore ratios as of
December 31, 2013 for the Mulatos Mine and nearby satellite
deposits are summarized in Table 2 at the end of this press
release.
Mineral
Resources
Globally, the Company's Measured and Indicated mineral
resources, which are reported exclusive of mineral reserves, are
6.67 million ounces at various cut-off grades, as of December 31,
2013. This represents a 31% increase in ounces and 24% increase in
ounces per share from 2012, reflecting the acquisition of Esperanza
in 2013.
Inferred mineral resources as of December 31, 2013 of 3.68
million ounces increased 142% relative to 2012 and 129% on a per
share basis reflecting the accretive acquisitions of Esperanza and
Orsa Ventures. In 2013, the Company applied a $1,400 per ounce gold
price assumption for Mulatos and the Company's Turkish projects,
which reflected a decrease from $1,500 in 2012. Detailed summaries
of the Company's Global Measured and Indicated, and Inferred
mineral resources as of December 31, 2013 are presented in Tables 3
and 4, respectively, at the end of this press release.
Mulatos Mine (Mexico)
Measured and Indicated mineral resources at the Mulatos Mine and
its satellite deposits decreased 5% to 2.52 million ounces while,
consistent with mineral reserves, grades increased 5% compared to
the prior year. Inferred mineral resources decreased to 321,000
ounces, as of December 31, 2013, while grades increased 5%. The
mineral resources are reported at a 0.5 g/t Au cut-off at Mulatos,
at a 2.5 g/t Au cut-off for underground resources, and at a 0.3 g/t
Au cut-off at the El Realito and Carricito areas. The change in
Measured, Indicated, and Inferred mineral resources is primarily
attributable to the conversion of mineral resources into Proven and
Probable mineral reserves in addition to the use of a more
conservative gold price assumption. Partially offsetting the
decrease in Measured and Indicated mineral resources at Mulatos was
the delineation of new resources through infill drilling and
extension drilling at San Carlos, with a 96% increase in the
underground resource to 123,800 ounces and a 35% increase in grade
to 6.16 g/t (refer to Tables 7 and 8).
Detailed summaries of Measured and Indicated mineral resources
and Inferred mineral resources for Mulatos are presented in Tables
5 and 6, respectively, at the end of this press release.
Aği Daği, Kirazli, and Çamyurt (Turkey)
Measured and Indicated mineral resources at Aği Daği, Kirazli
and Çamyurt, which are reported at a 0.2 g/t Au cut-off, increased
nearly 0.5 million ounces of gold, or 20%, to 2.92 million ounces
of gold and 24.1 million ounces of silver, as compared to the
mineral resources reported as at December 31, 2012. The key
contributor to this increase was the successful upgrading of 0.51
million ounces of Inferred mineral resources at the Çamyurt deposit
into the Measured and Indicated categories while also improving the
combined grade by nearly 8%. Given its proximity to Aği Daği, this
conversion of ounces is expected to enhance the economics of Aği
Daği as outlined in the 2012 pre-feasibility study. Since acquiring
the projects in 2010, the Company has grown the Measured and
Indicated mineral resource by 126%.
Inferred mineral resources at Aği Daği, Kirazli and Çamyurt
decreased to 0.40 million ounces at year-end 2013, primarily
reflecting the upgrade of the Inferred mineral resource at
Çamyurt.
Detailed summaries of the Measured and Indicated, and Inferred
mineral resources for Aği Daği are presented in Tables 9 and 10.
The Measured and Indicated, and Inferred mineral resources for
Kirazli are presented in Tables 11 and 12. Measured and Indicated,
and Inferred mineral resources for Çamyurt are presented in Tables
13 and 14.
Esperanza Gold Project (Mexico)
Measured and Indicated mineral resources at the Esperanza Gold
Project, which are reported at a 0.4 g/t Au cut-off grade total
1.24 million ounces of gold and 10.6 million ounces of silver as at
March 1, 2014. Upon completion of the acquisition of Esperanza in
August 2013, the Company undertook a complete remodeling of the
deposit and adopted a more conservative approach to the mineral
resource estimation resulting in a decline relative to the 2012
mineral resource estimate. Inferred mineral resources at the
Esperanza Gold project contained 0.11 million ounces of gold and
1.12 million ounces of silver as at March 1, 2014.
Detailed summaries of the Measured and Indicated, and Inferred
mineral resources for Esperanza Gold project are presented in
Tables 15 and 16, respectively, at the end of this press
release.
Quartz Mountain Property (USA)
Inferred mineral resources at the Quartz Mountain Property,
which are reported at a 0.21 g/t Au cut-off for oxide and 0.58 g/t
Au for sulphide, contained 2.85 million ounces at year-end 2013.
This includes oxide mineral resources of 1.30 million ounces and
sulphide mineral resources of 1.55 million ounces. Quartz Mountain
was acquired as part of the acquisition of Orsa Ventures Corp.
completed in September 2013.
A detailed summary of the Inferred mineral resources for Quartz
Mountain are presented in Table 17.
Qualified Persons
The independent Qualified Person for the National Instrument
43-101 compliant mineral reserve estimate is Herb Welhener, SME-QP,
Vice President of Independent Mining Consultants Inc. of Tucson,
Arizona, working in conjunction with the Company's exploration and
operations staff. Marc Jutras, P. Eng., M.A.Sc., Director of
Mineral Resources for Alamos, prepared the mineral resource
estimation for the Mulatos Mine (updates of the San Carlos,
Estrella, East Estrella, Mina Vieja, and Escondida areas), the Aği
Daği and Kirazli projects. Kristen Simpson, Chief Resource
Geologist for Alamos, prepared the mineral resource estimation of
the Puerto del Aire, El Realito, and Camyurt deposits. Mark Odell,
P.E., Principal, Practical Mining LLC, was responsible for the
presentation of the underground reserves in the Escondida-Gap and
San Carlos areas. The mineral resource for the Esperanza Gold
project was prepared by independent Qualified Person, Mr. Garth
Kirkham, P.Geo., Kirkham Geosystems Ltd. of Burnaby, British
Columbia. The mineral resource for the Quartz Mountain project was
prepared by independent Qualified Person, Michael Lechner, P. Geo.,
of Resource Modeling Inc. All are recognized as Qualified Persons
according to the requirements of National Instrument 43-101.
Exploration programs for the Company are directed by Jason
Dunning, B.Sc., M.Sc., P.Geo., Alamos' Vice President of
Exploration, a Qualified Person as defined by National Instrument
43-101 of the Canadian Securities Administrators. Field programs in
Mexico are supervised by Ken Balleweg, B.Sc., M.Sc., P.Geo.,
Alamos' Exploration Manager - Mexico. Field programs in Turkey are
supervised by Mehtap Ozcan, Alamos' Exploration Manager - Turkey.
Field programs in the USA are supervised by Bruno Barde, M.Sc.,
P.Geo., Alamos' Regional Chief Geologist - USA. Messieurs Balleweg
and Barde are both recognized as Qualified Persons according to the
requirements of National Instrument 43-101.
Drilling, sampling, QA/QC protocols and analytical methods for
individual resource areas are as outlined in the respective press
releases for these areas, in the Mulatos December 2012 technical
report, and the July 2012 Aği Daği and Kirazli technical report,
which are available at www.sedar.com.
About Alamos
Alamos is an established Canadian-based gold producer that owns
and operates the Mulatos Mine in Mexico, and has exploration and
development activities in Mexico, Turkey and the United States. The
Company employs more than 550 people and is committed to the
highest standards of sustainable development. Alamos has
approximately $410 million in cash and cash equivalents, is
debt-free, and unhedged to the price of gold. As of March 28, 2014,
Alamos had 127,357,488 common shares outstanding (139,229,554
shares fully diluted), which are traded on the TSX and NYSE under
the symbol "AGI".
The TSX and NYSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this
release.
Cautionary Note
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking
statements". All statements other than statements of historical
fact included in this release, including without limitation
statements regarding forecast gold production, gold grades,
recoveries, waste-to-ore ratios, total cash costs, potential
mineralization and reserves, exploration results, and future plans
and objectives of Alamos, are forward-looking statements that
involve various risks and uncertainties. These forward-looking
statements include, but are not limited to, statements with respect
to mining and processing of mined ore, achieving projected recovery
rates, anticipated production rates and mine life, operating
efficiencies, costs and expenditures, changes in mineral resources
and conversion of mineral resources to proven and probable
reserves, and other information that is based on forecasts of
future operational or financial results, estimates of amounts not
yet determinable and assumptions of management.
Exploration results that include geophysics, sampling, and drill
results on wide spacings may not be indicative of the occurrence of
a mineral deposit. Such results do not provide assurance that
further work will establish sufficient grade, continuity,
metallurgical characteristics and economic potential to be classed
as a category of mineral resource. A mineral resource that is
classified as "inferred" or "indicated" has a great amount of
uncertainty as to its existence and economic and legal feasibility.
It cannot be assumed that any or part of an "indicated mineral
resource" or "inferred mineral resource" will ever be upgraded to a
higher category of resource. Investors are cautioned not to assume
that all or any part of mineral deposits in these categories will
ever be converted into proven and probable reserves.
Any statements that express or involve discussions with respect
to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans", "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and may be "forward-looking statements." Forward-looking statements
are subject to a variety of risks and uncertainties that could
cause actual events or results to differ from those reflected in
the forward-looking statements.
There can be no assurance that forward-looking statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from Alamos' expectations include, among others, risks
related to international operations, the actual results of current
exploration activities, conclusions of economic evaluations and
changes in project parameters as plans continue to be refined as
well as future prices of gold and silver, as well as those factors
discussed in the section entitled "Risk Factors" in Alamos' Annual
Information Form. Although Alamos has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
Note to U.S. Investors
Alamos prepares its disclosure in accordance with the
requirements of securities laws in effect in Canada, which differ
from the requirements of U.S. securities laws. Terms relating to
mineral resources in this presentation are defined in accordance
with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects under the guidelines set out in the Canadian
Institute of Mining, Metallurgy, and Petroleum Standards on Mineral
Resources and Mineral Reserves. The United States Securities and
Exchange Commission (the "SEC") permits mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. Alamos
may use certain terms, such as "measured mineral resources",
"indicated mineral resources", "inferred mineral resources" and
"probable mineral reserves" that the SEC does not recognize (these
terms may be used in this presentation and are included in the
public filings of Alamos, which have been filed with the SEC and
the securities commissions or similar authorities in Canada).
Table 1: Proven and Probable Mineral
Reserves at Mulatos Project Area as of December 31, 2013
PROVEN AND PROBABLE RESERVES 1,2,3,4,5,6,7,8,9 as at
December 31, 2013 |
|
|
Proven 2 |
|
Probable 2 |
|
Proven + Probable 2 |
RESERVE AREA |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
|
|
(000) |
|
(g/t Au) |
|
Ounces |
|
(000) |
|
(g/t Au) |
|
Ounces |
|
(000) |
|
(g/t Au) |
|
Ounces |
Mulatos Mine 3, 4, 5 |
|
6,700 |
|
1.10 |
|
235,940 |
|
38,353 |
|
0.90 |
|
1,109,282 |
|
45,053 |
|
0.93 |
|
1,345,222 |
UG Reserve6, 7 |
|
201 |
|
7.84 |
|
50,639 |
|
760 |
|
6.90 |
|
168,646 |
|
961 |
|
7.10 |
|
219,285 |
Existing stockpiles |
|
4,508 |
|
1.68 |
|
243,640 |
|
|
|
|
|
|
|
4,508 |
|
1.68 |
|
243,640 |
La Yaqui 8 |
|
|
|
|
|
|
|
1,574 |
|
1.58 |
|
79,826 |
|
1,574 |
|
1.58 |
|
79,826 |
Cerro Pelon 9 |
|
|
|
|
|
|
|
2,673 |
|
1.64 |
|
140,525 |
|
2,673 |
|
1.64 |
|
140,525 |
TOTAL |
|
11,409 |
|
1.45 |
|
530,219 |
|
43,360 |
|
1.08 |
|
1,498,279 |
|
54,769 |
|
1.15 |
|
2,028,498 |
Notes for Table 1:
(1) |
The
Company's mineral reserves as at December 31, 2013 are classified
in accordance with the Canadian Institute of Mining Metallurgy and
Petroleum's "CIM Standards on Mineral Resources and Reserves,
Definition and Guidelines" as per Canadian Securities
Administrator's National Instrument 43-101 requirements. |
(2) |
Tonnes are rounded to the closest "000s" and grades are rounded to
the closest "0.00"s. |
(3) |
The
mineral reserve estimate for the Mulatos Mine incorporates the
Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El
Victor, and San Carlos areas. |
(4) |
Mineral reserve cut-off grade for the Mulatos Mine is determined as
a net of process value of $0.10 per tonne for each model block. The
determination was based on a $1,250 per ounce gold price, a
December 31, 2013 resource and recovery model, and the 2013 budget
costs based on the actual cost figures from current mining
operations. |
(5) |
Pit-contained mineral reserves for San Carlos include 2,009,000
tonnes grading 0.77 g/t Au for 49,460 ounces. |
(6) |
Underground reserves are design-contained and reported at a 2.5 g/t
Au cut-off grade, with a 5% mining loss and 10% dilution. |
(7) |
Underground reserves include 32,000 tonnes at Escondida Deep,
grading 9.48 g/t Au for 9,758 ounces, and 929,000 tonnes at San
Carlos grading 7.02 g/t Au for 209,527 ounces. |
(8) |
Mineral reserve gold cut-off grade for the La Yaqui Pit is a 0.30
g/t gold. The determination was based on an $800 per ounce gold
price, a May 2009 resource model, gold recovery at the mining
operations, and the 2010 budget costs based on the actual cost
figures from mining operations. |
(9) |
Mineral reserve gold cut-off grade for the Cerro Pelon Pit is
determined as a net of process value of $0.10 per tonne, for each
model block. The determination was based on an $800 per ounce gold
price, a November 2009 resource model, gold recovery at the mining
operations, and the 2010 budget costs based on the actual cost
figures from mining operations. |
Table 2: Mulatos Project Area
Life-of-Mine Waste-to-Ore Ratios as of December 31, 2013
Mulatos Project Area Life-of-Mine Waste-to-Ore Ratios
as of December 31, 20131 |
Project |
Waste-to-Ore Ratio |
Mulatos Mine |
1.04 |
Cerro Pelon Pit |
2.13 |
La Yaqui Pit |
0.16 |
San Carlos Pit |
1.72 |
Notes for Table 2:
(1) |
The
life-of-mine waste-to-ore ratio for the Mulatos Mine incorporates
the Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, and
El Victor areas. San Carlos open pit waste-to-ore ratio is
presented separately. |
Table 3: Total Measured and
Indicated Mineral Resources as of December 31, 2013
Total Measured & Indicated Mineral Resources
1,2,3,4,5,6,7,8,9 as at December 31, 2013 |
|
Cut-off |
Tonnes |
Grade |
Grade |
Contained |
Contained |
|
(g/t Au) |
(000s) |
(g/t Au) |
(g/t Ag) |
Ounces Au |
Ounces Ag |
Mexico |
Mulatos |
0.5 |
70,200 |
1.02 |
|
2,302,044 |
|
San Carlos UG |
2.5 |
625 |
6.16 |
|
123,808 |
|
El Realito |
0.3 |
1,581 |
1.06 |
|
53,653 |
|
Carricito |
0.3 |
1,355 |
0.82 |
|
35,687 |
|
Esperanza |
0.4 |
46,677 |
0.82 |
7.10 |
1,237,000 |
10,644,000 |
Total |
|
120,438 |
0.97 |
|
3,752,192 |
|
Turkey |
Aği Daği |
0.2 |
88,204 |
0.58 |
4.00 |
1,638,911 |
11,356,774 |
Kirazli |
0.2 |
33,917 |
0.71 |
8.50 |
772,470 |
9,266,615 |
Çamyurt |
0.2 |
17,730 |
0.89 |
6.14 |
508,877 |
3,498,222 |
Total |
|
139,851 |
0.65 |
5.36 |
2,920,258 |
24,121,611 |
USA |
Quartz Mtn. |
|
|
|
|
|
|
Total |
|
|
|
|
|
|
Combined Total |
6,672,450 |
34,765,611 |
Table 4: Total Inferred Mineral
Resources as of December 31, 2013
Total Inferred Mineral Resources 1,3,4,5,6,7,8,9 as at
December 31, 2013 |
|
Cut-off |
Tonnes |
Grade |
Grade |
Contained |
Contained |
|
(g/t Au) |
(000s) |
(g/t Au) |
(g/t Ag) |
Ounces Au |
Ounces Ag |
Mexico |
Mulatos |
0.5 |
9,690 |
0.95 |
|
295,803 |
|
San Carlos UG |
2.5 |
8 |
5.79 |
|
1,488 |
|
El Realito |
0.3 |
91 |
0.73 |
|
2,139 |
|
Carricito |
0.3 |
900 |
0.74 |
|
21,528 |
|
Esperanza |
0.4 |
3,974 |
0.85 |
8.80 |
109,000 |
1,122,000 |
Total |
|
14,663 |
0.91 |
|
429,958 |
|
Turkey |
Aği Daği |
0.2 |
15,204 |
0.41 |
2.71 |
202,266 |
1,322,910 |
Kirazli |
0.2 |
5,872 |
0.59 |
8.78 |
110,865 |
1,657,310 |
Çamyurt |
0.2 |
2,791 |
0.95 |
5.80 |
84,922 |
520,151 |
Total |
|
23,867 |
0.52 |
4.56 |
398,053 |
3,500,371 |
USA |
Quartz Mtn. |
0.21 oxide 0.58 sulphide |
110,448 |
0.80 |
|
2,848,000 |
|
Total |
|
110,448 |
0.80 |
|
2,848,000 |
|
Combined Total |
3,676,011 |
4,622,371 |
Notes for Tables 3 & 4:
(1) |
The
updated mineral resource estimate at Mulatos incorporates the
Estrella, Escondida, Puerto del Aire, El Salto, Mina Vieja, El
Victor, and San Carlos areas. |
(2) |
In-pit measured and indicated mineral resource blocks are exclusive
of pit-contained reserves. |
(3) |
Measured and indicated and inferred mineral resources outside of
the Mulatos Mine have no economic restrictions and are tabulated by
gold cut-off grade. |
(4) |
Measured and indicated and inferred resources at Carricito and El
Realito are pit-constrained, applying a $1,400/oz gold price, 55°
pit slopes, and a $2.52/t mining cost, $9.11/t process + G&A
cost. |
(5) |
Measured and indicated and inferred resources for the Aği Daği
project, which includes the Baba, Ayitepe, Deli, and Fire Tower
zones, are pit constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a US$1,400 per ounce gold price and a
US$24.00 per ounce silver price, a December 31, 2013 resource
model, pit slope angles ranging from 40° to 48°, and estimated
costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(6) |
Measured and indicated, and inferred resources for the Kirazli
project, including Rockpile, are pit constrained with cut-off
determined as a net of process value of $0.10 per tonne, for each
model block. The determination was based on a US$1,400 per ounce
gold price and a US$24.00 per ounce silver price, a December 31,
2013 resource model, pit slope angles ranging from 38° to 48°, and
estimated costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(7) |
Measured and indicated and inferred resources for the Çamyurt
project are pit-constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a $1,400 per ounce gold price and a
$24/oz silver price, a December 31, 2013 resource model, average
pit slope angle of 45°, and estimated costs and recoveries based on
the pre-feasibility study specifications. The resources were then
tabulated by gold cut-off grade. |
(8) |
The
effective date of the Esperanza mineral resource is March 1, 2014,
as stated in the NI 43-101 technical report titled "Mineral
Resource Estimation of the Esperanza Gold Project, Morelos State,
Mexico, dated March 1, 2014. |
(9) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 5: Measured and Indicated
Mineral Resources as of December 31, 2013 - Mulatos Project
Area
Mulatos Mine - Measured and Indicated Mineral
Resources1,2,3,6 as at December 31, 2013 |
|
|
Measured |
|
Indicated |
|
Measured + Indicated |
Cut-off |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
2.0 |
|
673 |
|
4.17 |
|
90,145 |
|
3,903 |
|
3.45 |
|
432,576 |
|
4,576 |
|
3.55 |
|
522,721 |
1.5 |
|
1,154 |
|
3.15 |
|
116,691 |
|
7,883 |
|
2.58 |
|
652,671 |
|
9,037 |
|
2.65 |
|
769,362 |
1.0 |
|
2,438 |
|
2.13 |
|
166,532 |
|
17,843 |
|
1.81 |
|
1,038,029 |
|
20,281 |
|
1.85 |
|
1,204,561 |
0.7 |
|
4,491 |
|
1.53 |
|
221,105 |
|
35,878 |
|
1.31 |
|
1,516,178 |
|
40,369 |
|
1.34 |
|
1,737,283 |
0.5 |
|
7,289 |
|
1.17 |
|
274,227 |
|
62,911 |
|
1.00 |
|
2,027,817 |
|
70,200 |
|
1.02 |
|
2,302,044 |
0.3 |
|
12,407 |
|
0.85 |
|
338,752 |
|
120,706 |
|
0.71 |
|
2,752,819 |
|
133,113 |
|
0.72 |
|
3,091,571 |
Table 6: Inferred Mineral Resources as of December 31, 2013 -
Mulatos Project Area
Mulatos Mine - Inferred Mineral Resources 1, 2, 3, 6 as
at December 31, 2013 |
Cut-off |
Tonnes |
Grade |
Contained |
(g/t Au) |
(000s) |
(g/t Au) |
Ounces Au |
2.00 |
527 |
3.44 |
58,204 |
1.50 |
1,162 |
2.51 |
93,575 |
1.00 |
2,320 |
1.86 |
138,741 |
0.70 |
4,689 |
1.34 |
201,429 |
0.50 |
9,690 |
0.95 |
295,803 |
0.30 |
19,380 |
0.67 |
418,171 |
Notes for Tables 5 & 6:
(1) |
The
updated mineral resource estimate incorporates the Estrella,
Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and
San Carlos areas. |
(2) |
In-pit measured and indicated mineral resource blocks are exclusive
of pit-contained reserves. |
(3) |
Measured and indicated and inferred mineral resources outside of
the Mulatos Mine have no economic restrictions and are tabulated by
gold cut-off grade. |
(4) |
Underground resources are presented at a 2.5 g/t Au cut-off grade
for the San Carlos area. |
(5) |
Measured and indicated and inferred resources at Carricito and El
Realito are pit-constrained, applying a $1,400/oz gold price, 55°
pit slopes, and a $2.52/t mining cost, $9.11/t process + G&A
cost. |
(6) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 7: Measured and Indicated Mineral Resources as of December
31, 2013 - San Carlos Underground
San Carlos Underground - Measured and Indicated
Resources 4, 6 as at December 31, 2013 |
|
|
Measured |
|
Indicated |
|
Measured + Indicated |
Cut-off |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
|
Tonnes |
|
Grade |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
3.0 |
|
79 |
|
7.41 |
|
18,828 |
|
385 |
|
7.34 |
|
90,861 |
|
464 |
|
7.35 |
|
109,689 |
2.5 |
|
97 |
|
6.54 |
|
20,388 |
|
528 |
|
6.09 |
|
103,420 |
|
625 |
|
6.16 |
|
123,808 |
2.0 |
|
127 |
|
5.54 |
|
22,629 |
|
717 |
|
5.07 |
|
116,781 |
|
844 |
|
5.14 |
|
139,410 |
Table 8: Inferred Mineral Resources as of December 31, 2013 -
San Carlos Underground
San Carlos Underground - Inferred Mineral Resources 4,
6 as at December 31, 2013 |
Cut-off |
Tonnes |
Grade |
Contained |
(g/t Au) |
(000s) |
(g/t Au) |
Ounces Au |
3.0 |
7 |
6.39 |
1,439 |
2.5 |
8 |
5.79 |
1,488 |
2.0 |
11 |
5.01 |
1,771 |
Notes for Tables 7 & 8:
(1) |
The
updated mineral resource estimate incorporates the Estrella,
Escondida, Puerto del Aire, El Salto, Mina Vieja, El Victor, and
San Carlos areas. |
(2) |
In-pit measured and indicated mineral resource blocks are exclusive
of pit-contained reserves. |
(3) |
Measured and indicated and inferred mineral resources outside of
the Mulatos Mine have no economic restrictions and are tabulated by
gold cut-off grade. |
(4) |
Underground resources are presented at a 2.5 g/t Au cut-off grade
for the San Carlos area. |
(5) |
Measured and indicated and inferred resources at Carricito and El
Realito are pit-constrained, applying a $1,400/oz gold price, 55°
pit slopes, and a $2.52/t mining cost, $9.11/t process + G&A
cost. |
(6) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 9: Measured and Indicated
Mineral Resources as of December 31, 2013 - Aği Daği Project
Aği Daği Project - Measured & Indicated Mineral
Resources 1, 4 as at December 31, 2013 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
1.00 |
|
7,994 |
|
2.13 |
|
15.16 |
|
547,237 |
|
3,896,706 |
0.80 |
|
12,562 |
|
1.68 |
|
11.19 |
|
677,247 |
|
4,520,503 |
0.60 |
|
22,283 |
|
1.25 |
|
7.81 |
|
892,070 |
|
5,597,389 |
0.40 |
|
43,436 |
|
0.87 |
|
5.57 |
|
1,221,062 |
|
7,779,479 |
0.20 |
|
88,204 |
|
0.58 |
|
4.00 |
|
1,638,911 |
|
11,356,774 |
0.10 |
|
126,012 |
|
0.45 |
|
3.30 |
|
1,810,006 |
|
13,377,264 |
Table 10: Inferred Mineral Resources as of December 31, 2013 -
Aği Daği Project
Aği Daği Project - Inferred Mineral Resources 1,4 as
at December 31, 2013 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
1.00 |
|
356 |
|
1.45 |
|
6.45 |
|
16,570 |
|
73,777 |
0.80 |
|
881 |
|
1.12 |
|
4.87 |
|
31,590 |
|
137,988 |
0.60 |
|
2,085 |
|
0.87 |
|
3.83 |
|
58,028 |
|
256,452 |
0.40 |
|
5,854 |
|
0.62 |
|
3.39 |
|
116,819 |
|
638,313 |
0.20 |
|
15,204 |
|
0.41 |
|
2.71 |
|
202,266 |
|
1,322,910 |
0.10 |
|
22,827 |
|
0.33 |
|
2.25 |
|
239,645 |
|
1,650,211 |
Notes for Tables 9 & 10:
(1) |
Measured and indicated and inferred resources for the Aği Daği
project, which includes the Baba, Ayitepe, Deli, and Fire Tower
zones, are pit constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a US$1,400 per ounce gold price and a
US$24.00 per ounce silver price, a December 31, 2013 resource
model, pit slope angles ranging from 40° to 48°, and estimated
costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(2) |
Measured and indicated, and inferred resources for the Kirazli
project, including Rockpile, are pit constrained with cut-off
determined as a net of process value of $0.10 per tonne, for each
model block. The determination was based on a US$1,400 per ounce
gold price and a US$24.00 per ounce silver price, a December 31,
2013 resource model, pit slope angles ranging from 38° to 48°, and
estimated costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(3) |
Measured and indicated and inferred resources for the Çamyurt
project are pit-constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a $1,400 per ounce gold price and a
$24/oz silver price, a December 31, 2013 resource model, average
pit slope angle of 45°, and estimated costs and recoveries based on
the pre-feasibility study specifications. The resources were then
tabulated by gold cut-off grade |
(4) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 11: Measured and Indicated
Mineral Resources as of December 31, 2013 - Kirazli Project
Kirazli Project - Measured & Indicated Mineral
Resources 2,4 as at December 31, 2013 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
1.00 |
|
5,249 |
|
2.30 |
|
19.45 |
|
387,598 |
|
3,283,214 |
0.80 |
|
6,303 |
|
2.06 |
|
17.35 |
|
417,359 |
|
3,515,315 |
0.60 |
|
9,313 |
|
1.61 |
|
15.10 |
|
483,398 |
|
4,522,102 |
0.40 |
|
18,267 |
|
1.06 |
|
10.85 |
|
623,839 |
|
6,372,454 |
0.20 |
|
33,917 |
|
0.71 |
|
8.50 |
|
772,470 |
|
9,266,615 |
0.10 |
|
42,114 |
|
0.60 |
|
8.34 |
|
808,439 |
|
11,287,389 |
Table 12: Inferred Mineral Resources
as of December 31, 2013 - Kirazli Project
Kirazli Project - Inferred Mineral Resources 2,4 as at
December 31, 2013 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
1.00 |
|
684 |
|
1.56 |
|
16.45 |
|
34,222 |
|
361,734 |
0.80 |
|
1,059 |
|
1.32 |
|
13.23 |
|
44,830 |
|
450,445 |
0.60 |
|
1,991 |
|
1.02 |
|
11.80 |
|
65,146 |
|
755,098 |
0.40 |
|
3,344 |
|
0.80 |
|
10.51 |
|
86,318 |
|
1,129,607 |
0.20 |
|
5,872 |
|
0.59 |
|
8.78 |
|
110,865 |
|
1,657,310 |
0.10 |
|
7,533 |
|
0.49 |
|
9.00 |
|
118,580 |
|
2,178,728 |
Notes for Tables 11 & 12:
(1) |
Measured and indicated and inferred resources for the Aği Daği
project, which includes the Baba, Ayitepe, Deli, and Fire Tower
zones, are pit constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a US$1,400 per ounce gold price and a
US$24.00 per ounce silver price, a December 31, 2013 resource
model, pit slope angles ranging from 40° to 48°, and estimated
costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(2) |
Measured and indicated, and inferred resources for the Kirazli
project, including Rockpile, are pit constrained with cut-off
determined as a net of process value of $0.10 per tonne, for each
model block. The determination was based on a US$1,400 per ounce
gold price and a US$24.00 per ounce silver price, a December 31,
2013 resource model, pit slope angles ranging from 38° to 48°, and
estimated costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(3) |
Measured and indicated and inferred resources for the Çamyurt
project are pit-constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a $1,400 per ounce gold price and a
$24/oz silver price, a December 31, 2013 resource model, average
pit slope angle of 45°, and estimated costs and recoveries based on
the pre-feasibility study specifications. The resources were then
tabulated by gold cut-off grade |
(4) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 13: Measured and Indicated
Mineral Resources as of December 31, 2013 - Çamyurt Project
Çamyurt Project - Measured & Indicated Mineral
Resources 2,4 as at December 31, 2013 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
1.00 |
|
5,652 |
|
1.58 |
|
9.44 |
|
287,277 |
|
1,715,773 |
0.80 |
|
7,957 |
|
1.38 |
|
8.60 |
|
353,689 |
|
2,200,902 |
0.60 |
|
11,033 |
|
1.19 |
|
7.76 |
|
422,687 |
|
2,752,939 |
0.40 |
|
14,442 |
|
1.03 |
|
6.92 |
|
477,533 |
|
3,211,555 |
0.20 |
|
17,730 |
|
0.89 |
|
6.14 |
|
508,877 |
|
3,498,222 |
0.10 |
|
19,441 |
|
0.83 |
|
5.74 |
|
517,025 |
|
3,586,157 |
Table 14: Inferred Mineral Resources
as of December 31, 2013 - Çamyurt Project
Çamyurt Project - Inferred Mineral Resources 3,4 as at
December 31, 2013 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
1.00 |
|
973 |
|
1.70 |
|
9.69 |
|
53,158 |
|
303,193 |
0.80 |
|
1,314 |
|
1.49 |
|
9.01 |
|
63,025 |
|
380,686 |
0.60 |
|
1,672 |
|
1.32 |
|
8.01 |
|
71,008 |
|
430,585 |
0.40 |
|
2,137 |
|
1.14 |
|
7.03 |
|
78,314 |
|
483,079 |
0.20 |
|
2,791 |
|
0.95 |
|
5.80 |
|
84,922 |
|
520,151 |
0.10 |
|
3,330 |
|
0.82 |
|
5.04 |
|
87,538 |
|
539,329 |
Notes for Tables 13 & 14:
(1) |
Measured and indicated and inferred resources for the Aği Daği
project, which includes the Baba, Ayitepe, Deli, and Fire Tower
zones, are pit constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a US$1,400 per ounce gold price and a
US$24.00 per ounce silver price, a December 31, 2013 resource
model, pit slope angles ranging from 40° to 48°, and estimated
costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(2) |
Measured and indicated, and inferred resources for the Kirazli
project, including Rockpile, are pit constrained with cut-off
determined as a net of process value of $0.10 per tonne, for each
model block. The determination was based on a US$1,400 per ounce
gold price and a US$24.00 per ounce silver price, a December 31,
2013 resource model, pit slope angles ranging from 38° to 48°, and
estimated costs and recoveries based on the pre-feasibility study
specifications. The resources were then tabulated by gold cut-off
grade. |
(3) |
Measured and indicated and inferred resources for the Çamyurt
project are pit-constrained with cut-off determined as a net of
process value of $0.10 per tonne, for each model block. The
determination was based on a $1,400 per ounce gold price and a
$24/oz silver price, a December 31, 2013 resource model, average
pit slope angle of 45°, and estimated costs and recoveries based on
the pre-feasibility study specifications. The resources were then
tabulated by gold cut-off grade |
(4) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 15: Measured and Indicated
Mineral Resources as of March 1, 2014 - Esperanza Gold Project
Esperanza Project - Measured & Indicated Mineral
Resources 1,2,3 as at March 1, 2014 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
0.4 |
|
46,677 |
|
0.82 |
|
7.10 |
|
1,237,000 |
|
10,644,000 |
Table 16: Inferred Mineral Resources
as of March 1, 2014 - Esperanza Gold Project
Esperanza Project - Inferred Mineral Resources 1,2,3
as at March 1, 2014 |
Cut-off |
|
Tonnes |
|
Grade |
|
Grade |
|
Contained |
|
Contained |
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
(g/t Ag) |
|
Ounces Au |
|
Ounces Ag |
0.4 |
|
3,974 |
|
0.85 |
|
8.80 |
|
109,000 |
|
1,122,000 |
Notes for Tables 15 & 16:
(1) |
Measured and indicated and inferred resources for the Esperanza,
are pit constrained with cut-off determined as a net of process
value of $0.10 per tonne, for each model block. The determination
was based on a US$1,600 per ounce gold price and a US$24.00 per
ounce silver price, a March 1, 2014 resource model, average pit
slope angle of 45°, and estimated costs of $2.60/t mining, $4.20/t
process, $0.64/t G&A, and recoveries of 65% for gold and 25%
for silver. The resources were then tabulated by gold cut-off
grade. |
(2) |
The
effective date of the Esperanza mineral resource is March 1, 2014,
as stated in the NI 43-101 technical report titled "Mineral
Resource Estimation of the Esperanza Gold Project, Morelos State,
Mexico, dated March 1, 2014. |
(3) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Table 17: Inferred Mineral Resources
as of December 31, 2013 - Quartz Mountain Project
Quartz Mountain Project - Inferred Mineral Resources
1,2 as at December 31, 2013 |
|
|
Cut-off |
|
Tonnes |
|
Grade |
|
Contained |
|
|
(g/t Au) |
|
(000s) |
|
(g/t Au) |
|
Ounces Au |
oxide |
|
0.21 |
|
64,148 |
|
0.63 |
|
1,297,000 |
sulphide |
|
0.58 |
|
46,300 |
|
1.04 |
|
1,551,000 |
total |
|
- |
|
110,448 |
|
0.80 |
|
2,848,000 |
Notes for Table 17:
(1) |
Inferred resources for the Quartz Mountain project are
pit-constrained, using a $1,500 per ounce gold price and a $30 per
ounce silver price, an average pit slope angle of 45°, estimated
costs of $2.50/t mining, $3.00/t processing in oxide and $17,50/t
processing in sulphide, and oxide recoveries of 65% for gold and
10% for silver, and sulphide recoveries of 80% for gold and 30% for
silver |
(2) |
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. |
Alamos Gold Inc.Scott K. ParsonsDirector, Investor
Relations(416) 368-9932 x 439www.alamosgold.com
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