Corani
Mineral Resources and Mineral Reserves
The Corani property is estimated to contain the following Mineral Resources and Mineral Reserves, which estimates are supported by a Technical Report dated December 17, 2019.
2019 Mineral Resource Estimate
| 2019 Mineral Resources, Corani Project (effective December 17, 2019) | |||||||
|---|---|---|---|---|---|---|---|
| Category | Tonnes (000) |
Silver g/t |
Lead % |
Zinc % |
Silver Moz |
Lead Mlb |
Zinc Mlb |
| Measured | 30,585 | 50.0 | 0.79 | 0.49 | 49.1 | 534 | 329 |
| Indicated | 208,050 | 40.9 | 0.64 | 0.43 | 273.5 | 2,933 | 1,985 |
| Measured + Indicated |
238,635 | 42.1 | 0.66 | 0.44 | 322.7 | 3,466 | 2,313 |
| Inferred | 73,185 | 35.5 | 0.40 | 0.30 | 83.5 | 641 | 484 |
- 2019 Corani Mineral Resources are inclusive of the 2019 Corani Mineral Reserves
The 2019 Corani Mineral Resources were generated within the $30.00/troy ounce silver, $1.425/pound (lb) lead, and $1.50/lb zinc price Lerchs-Grossman economic pit shell and the calculated $10.79/tonne NSR cutoff.
In addition to the 2019 Mineral Resources outlined in the table above, the Corani deposit contains the following potentially leachable Mineral Resources within the economic pit shell at a 15 g/t silver cutoff:
| 2019 Potentially Leachable Mineral Resources, Corani Project (effective December 17, 2019) |
|||
|---|---|---|---|
| Category | Tonnes (000) |
Silver g/t |
Silver Moz |
| Measured | 4,302 | 28.9 | 4.0 |
| Indicated | 36,104 | 30.1 | 35.0 |
| Measured + Indicated |
40,406 | 30.0 | 39.0 |
| Inferred | 24,311 | 38.2 | 29.9 |
2019 Mineral Reserve Calculation
The 2019 Corani Mineral Reserves consider only measured and indicated resource categories, which have been converted to proven and probable reserves categories, respectively. Mineral Reserves are defined as being the material to be fed to the process plant in the mine plan already described and are demonstrated to be economically viable in the Corani Project economic model.
| 2019 Mineral Reserves, Corani Project (effective December 17, 2019) | |||||||
|---|---|---|---|---|---|---|---|
| Category | Tonnes (000) |
Silver g/t |
Lead % |
Zinc % |
Silver Moz |
Lead Mlb |
Zinc Mlb |
| Proven | 20.3 | 59.7 | 1.00 | 0.60 | 39 | 450 | 269 |
| Probable | 118.3 | 49.9 | 0.88 | 0.55 | 190 | 2,292 | 1,426 |
| Proven + Probable |
138.6 | 51.3 | 0.90 | 0.55 | 229 | 2,742 | 1,694 |
- The Mineral Reserves have been estimated using the definitions of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM).
- The Mineral Reserves have been estimated using the following metal prices: $20.00/oz silver, $1.00/lb zinc, $0.95/lb lead using a revenue factor 1.00 pit shell as a basis for the pit design.
- Only pre-mineral tuff type of material has been considered as reserves.
- NSR Cutoff grades used are equal or higher than: $10.79/t.
- The effective date for these Mineral Reserves is 5 November 2019.
- Totals / Averages may not add up due to rounding of individual tonnes and grades.
- The tonnes and grades shown above are considered a Mineral Reserve because they have been demonstrated to be economically viable through the Corani Project financial model using the following metal prices: $18.00/oz silver, $1.10/lb zinc, $0.95/lb lead.