Reserves & Resources
MINERAL RESOURCE AND ORE RESERVE STATEMENT - DEC 2018
| Gold Resources Statement | Measured | Indicated | Inferred | Total Resources | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 67.65 | 1.41 | 2,969 | 438.84 | 0.98 | 13,384 | 61.16 | 2.81 | 5,341 | 567.67 | 1.23 | 21,695 | |||
| Project | Type | Cut-Off | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | CP |
| Cowal1 | Open-Pit | 0.4 | 46.54 | 0.69 | 1,027 | 174.92 | 0.85 | 4,784 | 5.63 | 1.07 | 193 | 227.09 | 0.82 | 6,004 | |
| Cowal | Underground | 2.0 | – | – | – | – | – | – | 13.55 | 3.24 | 1,411 | 13.55 | 3.24 | 1,411 | |
| Cowal1 | Total | 46.54 | 0.69 | 1,027 | 174.92 | 0.85 | 4,784 | 19.18 | 2.60 | 1,604 | 240.64 | 0.96 | 7,415 | 1 | |
| Cracow1 | Total | 2.80 | 0.27 | 9.04 | 79 | 1.09 | 6.47 | 227 | 1.59 | 2.88 | 147 | 2.96 | 4.78 | 454 | 2 |
| Mt Carlton1 | Open-Pit | 0.35 | 0.50 | 3.03 | 49 | 8.57 | 2.13 | 586 | 0.43 | 3.44 | 48 | 9.51 | 2.23 | 682 | |
| Mt Carlton | Underground | 2.4 | – | – | – | 0.45 | 8.38 | 120 | 0.08 | 7.43 | 20 | 0.53 | 8.20 | 141 | |
| Mt Carlton1 | Total | 0.50 | 3.00 | 49 | 9.02 | 2.44 | 706 | 0.52 | 4.10 | 68 | 10.04 | 2.60 | 823 | 4 | |
| Mt Rawdon1 | Total | 0.20 | 5.19 | 0.41 | 68 | 37.36 | 0.65 | 783 | 7.51 | 0.60 | 146 | 50.07 | 0.62 | 996 | 5 |
| Mungari1 | Open-Pit | 0.50 | 0.19 | 1.02 | 6 | 35.03 | 1.27 | 1,433 | 9.27 | 1.56 | 463 | 44.49 | 1.33 | 1,902 | |
| Mungari1 | Underground | 2.0/1.5 | 0.32 | 8.40 | 86 | 2.39 | 3.61 | 278 | 2.32 | 3.31 | 247 | 5.04 | 3.78 | 611 | |
| Mungari1 | Total | 0.51 | 5.63 | 93 | 37.42 | 1.42 | 1,711 | 11.59 | 1.91 | 710 | 49.52 | 1.58 | 2,514 | 3 | |
| Ernest Henry2 | Total | 0.90 | 11.57 | 0.71 | 264 | 47.76 | 0.62 | 952 | 12.71 | 0.62 | 253 | 72.05 | 0.63 | 1,470 | 6 |
| Marsden | Total | 0.20 | – | – | – | 119.83 | 0.27 | 1,031 | 3.14 | 0.22 | 22 | 122.97 | 0.27 | 1,053 | 7 |
| Red Lake4 | Total | 6.89/5.55 | 3.06 | 14.13 | 1,390 | 11.44 | 8.67 | 3,190 | 4.92 | 15.11 | 2,390 | 19.42 | 11.16 | 6,970 | 7 |
| Gold Reserves Statement | Proved | Probable | Total Reserve | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 62.80 | 1.02 | 1,999 | 238.20 | 1.01 | 7,510 | 301.00 | 1.02 | 9,507 | |||
| Project | Type | Cut-Off | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | Tonnes (Million) | Gold Grade (g/t) | Gold Metal (koz) | CP |
| Cowal1 | Open Pit | 0.45 | 46.54 | 0.69 | 1,027 | 94.70 | 0.94 | 2,854 | 141.25 | 0.85 | 3,880 | 1 |
| Cracow1 | Underground | 3.40 | 0.34 | 5.76 | 63 | 0.81 | 4.77 | 124 | 1.15 | 5.07 | 187 | 2 |
| Mt Carlton1 | Open-Pit | 0.80 | 0.50 | 3.03 | 49 | 3.69 | 3.92 | 465 | 4.18 | 3.82 | 513 | 6 |
| Mt Carlton1 | Underground | 3.70 | – | – | – | 0.60 | 5.65 | 108 | 0.60 | 5.65 | 108 | 7 |
| Mt Carlton1 | Total | 0.50 | 3.03 | 49 | 4.28 | 4.16 | 573 | 4.78 | 4.04 | 622 | ||
| Mt Rawdon1 | Open Pit | 0.30 | 2.92 | 0.52 | 49 | 22.65 | 0.72 | 521 | 25.56 | 0.69 | 570 | 4 |
| Mungari1 | Open-Pit | 0.75 | 0.27 | 1.14 | 10 | 9.85 | 1.61 | 511 | 10.12 | 1.60 | 521 | |
| Mungari | Underground | 3.20 | 0.20 | 5.26 | 34 | 0.54 | 4.58 | 80 | 0.74 | 4.77 | 113 | |
| Mungari1 | Total | 0.47 | 2.89 | 44 | 10.39 | 1.77 | 590 | 10.86 | 1.82 | 634 | 5 | |
| Ernest Henry2 | Underground | 0.90 | 10.50 | 0.79 | 267 | 32.50 | 0.46 | 481 | 43.00 | 0.54 | 747 | 8 |
| Marsden | Open Pit | 0.3 | – | – | – | 65.17 | 0.39 | 817 | 65.17 | 0.39 | 817 | 3 |
| Red Lake3 | Underground | 7.5 | 1.53 | 10.24 | 500 | 7.66 | 9.14 | 1,550 | 9.19 | 6.95 | 2,050 | 9 |
| Copper Resources Statement | Measured | Indicated | Inferred | Total Resources | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 5.71 | 1.23 | 70 | 150.36 | 0.56 | 835 | 9.38 | 0.82 | 77 | 165.45 | 0.59 | 982 | . | ||
| Project | Type | Cut-Off | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | CP |
| Marsden1 | Total | 0.2 | – | – | – | 119.83 | 0.46 | 553 | 3.14 | 0.24 | 7 | 122.97 | 0.46 | 560 | 1 |
| Ernest Henry2 | Total | 0.90 | 5.21 | 1.32 | 69 | 21.51 | 1.17 | 252 | 5.73 | 1.17 | 67 | 32.44 | 1.19 | 387 | 2 |
| Mt Carlton1 | Open pit | 0.35 | 0.50 | 0.24 | 1 | 8.57 | 0.30 | 26 | 0.43 | 0.46 | 2 | 9.51 | 0.30 | 29 | . |
| Mt Carlton | Underground | 2.4 | – | – | – | 0.45 | 1.04 | 5 | 0.08 | 1.15 | 1 | 0.53 | 1.06 | 6 | . |
| Mt Carlton | Total | 0.50 | 0.24 | 1 | 9.02 | 0.34 | 30 | 0.52 | 0.57 | 3 | 10.04 | 0.34 | 34 | 3 | |
| Copper Reserves Statement | Proved | Probable | Total Reserve | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 3.65 | 1.32 | 48 | 79.20 | 0.62 | 490 | 82.85 | 0.65 | 538 | |||
| Project | Type | Cut-Off | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | Tonnes (Million) | Copper Grade (%) | Copper Metal (kt) | CP |
| Marsden | Total | 0.3 | – | – | – | 65.17 | 0.57 | 371 | 65.17 | 0.57 | 371 | 1 |
| Ernest Henry2 | Total | 0.9 | 3.15 | 1.49 | 47 | 9.75 | 0.91 | 89 | 12.90 | 1.05 | 136 | 2 |
| Mt Carlton1 | Open pit | 0.8 | 0.50 | 0.24 | 1 | 3.69 | 0.71 | 26 | 4.19 | 0.66 | 27 | 3 |
| Mt Carlton | Underground | 3.7 | – | – | – | 0.60 | 0.70 | 4 | 0.60 | 0.70 | 4 | 4 |
| Mt Carlton | Total | 0.50 | 0.24 | 1 | 4.28 | 0.71 | 30 | 4.78 | 0.66 | 31 | ||
General Notes:
Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding.
Mineral Resources are reported inclusive of Ore Reserves.
1 Includes stockpiles
2 Ernest Henry Operation cut-off 0.9% CuEq
3 Ore Reserves for the Red Lake operation a global cut-off grade was calculated at 7.5g/t Au
4 Mineral Resources for the Red Lake-Campbell complex are reported using a cut-off grade of 6.89g/t Au and the Cochenour complex use a reported cut-off grade of 5.55g/t Au
This information is extracted from the ASX release entitled “Annual Mineral Resources and Ore Reserves Statement” released to the ASX on 17 April 2019. Full details of the Ernest Henry Mineral Resources and Ore Reserves are provided in the report entitled “Glencore Resources and Reserves as at 31 December 2018” released 1 February 2019 and available to view at www.glencore.com. Full details of the Red Lake Mineral Resources and Ore Reserves effective 30 June 2018 are provided in the report entitled “ Red Lake Operations Ontario, Canada NI 43-101 technical report” released 22 February 2019 and available to view at www.sedar.com. Mineral Resources are inclusive of Reserves. Mineral Resources have been prepared using the Canadian NI 43-101 Standards, and are not JORC compliant (for example, under NI 43-101, Mineral Resources are reported inclusive of Ore Reserves). The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement. Full details of the Ernest Henry Mineral Resources and Ore Reserves are provided in the report entitled “Glencore Resources and Reserves as at 31 December 2018” released 1 February 2019 and available to view at www.glencore.com.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the Reports and that all material assumptions and parameters underpinning the estimates in the Reports continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Reports.
Ernest Henry Resource is reported on an 81.5% basis for gold and 36.7% for copper (Evolution Mining has rights to 100% of the revenue from future gold production and 30% of future copper and silver produced from an agreed life of mine area and 49% of future gold, copper and silver produced from the Ernest Henry Resource outside the agreed life of mine area). Apportioning of the resource into the specific rights does not constitute a material change to the reported figures. Ernest Henry Reserve is reported on a 100% basis for gold and 30% for copper.
Group Gold Mineral Resources Competent Person (CP) Notes refer to 1. James Biggam; 2. Chris Wilson; 3. Andrew Engelbrecht; 4 Matthew Obiri-Yeboah; 5. Tim Murphy; 6. Colin Stelzer (Glencore); 7. Michael Andrew
Group Gold Ore Reserve Competent Person (CP) Notes refer to 1. Ryan Kare; 2. Russell McBeath; 3. Anton Kruger; 4. Dimitri Tahan; 5. Matt Varvari; 6. Sam Patterson; 7. Ben Hawkins; 8. Mike Corbett (Glencore); 9. Rodrigo Pasqua
Group Copper Mineral Resources Competent Person (CP) Notes refer to 1. Michael Andrew; 2. Colin Stelzer (Glencore); 3 Matthew Obiri-Yeboah
Group Copper Ore Reserve Competent Person (CP) Notes refer to 1. Anton Kruger; 2. Mike Corbett (Glencore). 3. Sam Patterson; 4. Ben Hawkins
