Reserves and Resources

Reserves - Proven and Probable

Reserves - Proven and Probable Contained Metal
Tonnes
(x1000)
Ag
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
Au
(g/t)
AgEq
(g/t)
CuEq
(%)
ZnEq
(%)
Ag
(M oz)
Cu
(M lb)
Pb
(M lb)
Zn
(M lb)
Au
(K oz)
AgEq
(M oz)
CuEq
(M lb)
ZnEq
(M lb)
Yauricocha Proven 2,665 53 1.26 0.95 3.23 0.58 - - 7.65 5 74 56 190 50 - 450
Probable 5,775 44 1.07 0.70 3.00 0.47 - - 6.66 8 136 89 382 86 - 847
Proven & Probable 8,439 46 1.13 0.78 3.07 0.50 - - 6.97 13 210 144 572 136 - 1,297
Bolivar Proven - - - - - - - - - - - - - - - - -
Probable 7,925 19 0.86 - - 0.25 - 1.14 - 5 150 - - 64 - 199 -
Proven & Probable 7,925 19 0.86 - - 0.25 - 1.14 - 5 150 - - 64 - 199 -
Total Proven & Probable 16,364 33 1.00 0.40 1.59 0.38 17 360 144 572 200
back to top

Resources - Measured and Indicated

Resources - Measured and Indicated Contained Metal
Tonnes
(x1000)
Ag
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
Au
(g/t)
AgEq
(g/t)
CuEq
(%)
ZnEq
(%)
Ag
(M oz)
Cu
(M lb)
Pb
(M lb)
Zn
(M lb)
Au
(K oz)
AgEq
(M oz)
CuEq
(M lb)
ZnEq
(M lb)
Yauricocha Measured 3,662 66 1.32 1.20 3.47 0.69 - - 8.48 8 107 97 280 81 - - 685
Indicated 8,989 46 1.27 0.72 2.81 0.56 - - 6.97 13 252 142 557 160 - - 1,382
Measured & Indicated 12,651 51 1.29 0.86 3.00 0.59 - - 7.41 21 359 239 838 242 - - 2,067
Bolivar Measured - - - - - - - - - - - - - - - - -
Indicated 13,267 23 1.04 - - 0.30 - 1.37 - 10 304 - - 128 - 402 -
Measured & Indicated 13,267 23 1.04 - - 0.30 - 1.37 - 10 304 - - 128 - 402 -
Cusi Measured 362 225 - 0.55 0.68 0.13 269 - - 3 - 4 5 2 3 - -
Indicated 4,195 217 - 0.64 0.66 0.21 267 - - 29 - 59 61 28 36 - -
Measured & Indicated 4,557 218 - 0.63 0.66 0.20 267 - - 32 - 64 66 30 39 - -
Total Measured & Indicated 30,475 64 0.99 0.45 1.35 0.41 62 663 303 904 399
back to top

Resources - Inferred

Resources - Inferred Contained Metal
Tonnes
(x1000)
Ag
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
Au
(g/t)
AgEq
(g/t)
CuEq
(%)
ZnEq
(%)
Ag
(M oz)
Cu
(M lb)
Pb
(M lb)
Zn
(M lb)
Au
(K oz)
AgEq
(M oz)
CuEq
(M lb)
ZnEq
(M lb)
Yauricocha 6,501 39 1.50 0.62 1.66 0.51 - - 6.11 8 215 89 238 107 - - 876
Bolivar 8,012 22 0.96 - - 0.42 - 1.35 - 6 170 - - 108 - 238 -
Cusi 1,633 158 - 0.54 0.84 0.16 207 - - 8 - 19 30 8 11 - -
Total Inferred 16,146 43 1.08 0.30 0.75 0.43 22 384 108 268 223
back to top

Notes:

The effective date of the Yauricocha mineral reserve and resource estimate is October 31, 2019. Details of the estimate will be provided in a NI 43-101 technical report to be filed on SEDAR by  January 2020.  Zinc equivalency is based on the following metal price assumptions: US$15.95/oz Ag, US$2.94/lb Cu, US$0.95/lb Pb, US$1.24/lb Zn and US$1,303/oz Au. Metallurgical recovery assumptions are variable between mineralization types, and are based on  actual plant data for 2019. The average is (where recovered) 76.4% Ag, 80.4% Cu, 88.6% Pb, 89.2% Zn, 17.2% Au. The equivalency expression is designed to present an in-situ zinc equivalent, considering the recovered value of the other metals expressed in the value of zinc percent.


The equation is: ZnEq = ((Ag*Ag$*Agrec)+(Cu*Cu$*Curec)+(Pb*Pb$*Pbrec)+(Zn*Zn$*Znrec)+(Au*Au$*Aurec)) / (Zn$*Znrec).

The effective date of the Bolivar mineral reserve and resource estimate is October 31, 2017. Details of the estimate are provided in the Company’s May 22, 2018 press releases and a NI 43-101 technical report will be filed on SEDAR within 45 days of the May 22, 2018 press release. Measured, Indicated and Inferred Resources include Proven and Probable Reserves. Copper equivalent is based on the following metal prices: US$18.25/oz Ag, US3.00/lb Cu and US$1,291 Au. Totals for Proven and Probable are diluted for internal waste. Metallurgical recovery assumptions are based on actual plant data for 2017 and are 78% Ag, 83% Cu, and 64% Au. The equivalency expression is designed to present an in-situ copper equivalent, considering the recovered value of the other metals expressed in the value of copper percent.
The equation is: CuEq = ((Ag*Ag$*Agrec)+(Cu*Cu$*Curec)+(Au*Au$*Aurec)) / (Cu$*Curec).

The effective date of the Cusi mineral resource estimate is Aug 31, 2017. Details of the estimate are provided in a NI 43-101 technical report filed on SEDAR on February 12, 2018. Mineral resources that are not mineral reserves do not have demonstrated economic viability.  Silver equivalency is based on the following metal price assumptions: US$18.30/oz Ag, US$0.93/lb Pb, US$1.15/lb Zn and US$1,283/oz Au. Based on the historical production information for Cusi, the metallurgical recovery assumptions are 84% Ag, 86% Pb, 51% Zn, 57% Au. The equivalency expression is designed to present an in-situ silver equivalent, considering the recovered value of the other metals expressed in the value of silver g/t.
The equation is: AgEq = ((Ag*Ag$*Agrec)+(Pb*Pb$*Pbrec)+(Zn*Zn$*Znrec)+(Au*Au$*Aurec)) / (Ag$*Agrec).