On June 20, 2024, the Company filed on SEDAR+ (www.sedarplus.ca) an updated NI 43-101 reserve and resource estimate for its Yauricocha Mine. Excerpts from the report are noted below.
Yauricocha Mine - Mineral Resources
| Category |
Tonnes
kt |
Cu
% |
Zn
% |
Ag
g/t |
Au
g/t |
Pb
% |
NSR
US$/t |
Cu
Mlb |
Zn
Mlb |
Ag
Moz |
Au
Moz |
Pb
Mlb |
| Measured |
1,946 |
1.37% |
2.12% |
40.35 |
0.56 |
0.48% |
114.90 |
58.76 |
90.93 |
2.52 |
0.04 |
20.59 |
| Indicated |
8,429 |
1.29% |
2.21% |
42.73 |
0.47 |
0.56% |
113.84 |
239.71 |
410.66 |
11.58 |
0.13 |
104.06 |
| M&I |
10,374 |
1.30% |
2.19% |
42.28 |
0.48 |
0.55% |
114.04 |
297.33 |
500.88 |
14.10 |
0.16 |
125.79 |
| Inferred |
13,211 |
1.30% |
1.59% |
34.42 |
0.43 |
0.49% |
102.88 |
378.63 |
463.10 |
14.62 |
0.18 |
142.71 |
Notes:
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Summation errors may occur due to rounding.
Mineral resources are reported at Cut-Off values (“COV”) based on 2023 actual metallurgical recoveries and 2024 smelter contracts.
Reporting cut-off value is a Net Smelter Return (“NSR”) and are variable based on mining method: US$ 39.71/t Sub-level Caving mining method (“SLC”) and $US 62.86/t Cut and Fill mining method (“OCF”) NSR was calculated as follows: NSR =Cu∗47.337+Ag ∗0.346+Pb ∗15.448+Zn∗12.346 +Au *4.588
Metal prices for the NSR formulas are: $US 3.77/lb Cu, $US 1,711.21/ oz Au, $US 22.55/ oz Ag, $US 1.17/lb Zn, $US 0.94/lb Pb
Capping of grades for silver, gold, copper, lead, zinc, arsenic, and iron assays were applied depending on mineralized domain and where appropriate. The Company is not aware of political, environmental or other risks that could materially affect the potential development of the mineral resources. Mineral resources are inclusive of mineral reserves.
Yauricocha Mine - Mineral Reserves
| Category |
Tonnes
kt |
Cu
% |
Zn
% |
Ag
g/t |
Au
g/t |
Pb
% |
NSR
US$/t |
Cu
Mlb |
Zn
Mlb |
Ag
Moz |
Au
Moz |
Pb
Mlb |
| Proven |
1,114 |
0.86% |
1.71% |
28.22 |
0.39 |
0.24% |
77.08 |
21.11 |
42.10 |
1.01 |
0.01 |
5.90 |
| Probable |
5,239 |
1.05% |
18521% |
35.75 |
0.36 |
0.47% |
93.89 |
121.57 |
213.55 |
6.02 |
0.06 |
53.98 |
| Total Reserves |
6,353 |
1.02% |
1.83% |
34.43 |
0.36 |
0.43% |
90.94 |
142.68 |
255.65 |
7.03 |
0.07 |
59.87 |
Notes:
Mineral reserves have been classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards on Mineral Resources and Mineral Reserves, whose definitions are incorporated by reference into NI 43- 101.
All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding.
Mineral reserves are reported at COV's based on 2023 actual metallurgical recoveries and 2024 smelter contracts.
Reporting cut-off value is an NSR and are variable by mining method: US$ 39.71/t. (SLC) and US$ 62.86/t (OCF) NSR was calculated as follows: NSR =Cu∗47.337+Ag ∗0.346+Pb ∗15.448+Zn∗12.346 +Au ∗4.588
Mining recovery and dilution have been applied and are variable by mining area and proposed mining method. The Company is not aware of political, environmental or other risks that could materially affect the potential development of the mineral reserves.
Qualified Persons
Ricardo Salazar Milla (AIG #8551), Corporate Manager – Mineral Resources, is a Qualified Person (“QP”) as defined in the NI 43-101. Mr. Salazar has reviewed and approved the scientific and technical content on this page. The Technical Report was prepared by AGP Mining Consultants Inc. The QP responsible for the Mineral Resources Estimate for the Yauricocha Mine is Oscar Retto, MAIG, and the QP responsible for the Mineral Reserves for the Yauricocha Mine is Alonso Gonzales, MAusIMM.
Yauricocha Technical Report (June 2024) – click here