Reserves & Resources
MINERAL RESOURCE AND ORE RESERVE STATEMENT – DEC 2017
| Gold Resources Statement | Measured | Indicated | Inferred | Total Resources | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 64.07 | 0.80 | 1,640 | 419.27 | 0.76 | 10,226 | 52.46 | 1.41 | 2,380 | 535.79 | 0.83 | 14,245 | |||
| 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 | 46.64 | 0.70 | 1,049 | 141.99 | 0.91 | 4,173 | 5.27 | 1.50 | 255 | 193.90 | 0.88 | 5,476 | |
| Cowal | Underground | 3 | - | - | - | - | - | - | 5.90 | 3.17 | 603 | 5.90 | 3.17 | 603 | |
| Cowal1 | Total | 0.40 | 46.64 | 0.70 | 1,049 | 141.99 | 0.91 | 4,173 | 11.17 | 2.39 | 858 | 199.80 | 1.03 | 6,079 | 1 |
| Cracow1 | Total | 2.80 | 0.17 | 8.52 | 46 | 1.40 | 7.13 | 321 | 1.56 | 2.87 | 144 | 3.13 | 5.08 | 511 | 2 |
| Mt Carlton1 | Open-Pit | 0.35 | 0.59 | 3.65 | 69 | 10.36 | 2.38 | 793 | 0.69 | 4.58 | 101 | 11.64 | 2.56 | 963 | |
| Mt Carlton | Underground | 2.40 | - | - | - | 0.21 | 11.56 | 78 | 0.05 | 10.38 | 15 | 0.25 | 11.30 | 93 | |
| Mt Carlton1 | Total | 0.59 | 3.65 | 69 | 10.57 | 2.60 | 870 | 0.73 | 4.90 | 117 | 11.89 | 2.80 | 1,056 | 4 | |
| Mt Rawdon1 | Total | 0.20 | 2.89 | 0.58 | 54 | 39.79 | 0.71 | 905 | 5.77 | 0.58 | 108 | 48.44 | 0.69 | 1,067 | 5 |
| Mungari1 | Open-Pit | 0.50 | 0.18 | 0.94 | 5 | 37.10 | 1.15 | 1,373 | 11.38 | 1.50 | 548 | 48.66 | 1.23 | 1,927 | |
| Mungari1 | Underground | 2.50/1.50 | 0.41 | 9.46 | 124 | 1.48 | 4.50 | 214 | 3.70 | 2.47 | 294 | 5.59 | 3.52 | 633 | |
| Mungari1 | Total | 0.59 | 6.84 | 130 | 38.58 | 1.28 | 1,587 | 15.08 | 1.74 | 842 | 54.26 | 1.47 | 2,560 | 3 | |
| Ernest Henry2 | Total | 0.90 | 13.20 | 0.69 | 293 | 67.10 | 0.62 | 1,338 | 15.00 | 0.60 | 289 | 95.30 | 0.63 | 1,920 | 6 |
| Marsden | Total | 0.20 | - | - | - | 119.83 | 0.27 | 1,031 | 3.14 | 0.22 | 22 | 122.97 | 0.27 | 1,053 | 7 |
| Gold Reserves Statement | Proved | Probable | Total Reserve | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 61.03 | 0.78 | 1,530 | 214.95 | 0.80 | 5,518 | 275.99 | 0.79 | 7,048 | |||
| 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 | 0.40 | 46.64 | 0.70 | 1,049 | 69.64 | 0.89 | 1,998 | 116.28 | 0.81 | 3,046 | 1 |
| Cracow1 | Underground | 3.40 | 0.17 | 5.72 | 32 | 1.31 | 5.08 | 213 | 1.48 | 5.14 | 245 | 2 |
| Mt Carlton1 | Open-Pit | 0.80 | 0.59 | 3.65 | 69 | 3.63 | 4.96 | 578 | 4.22 | 4.77 | 647 | 3 |
| Mt Carlton1 | Underground | 3.7 | - | - | - | 0.28 | 7.20 | 65 | 0.28 | 7.22 | 65 | 6 |
| Mt Carlton1 | Total | 0.59 | 3.65 | 69 | 3.91 | 5.11 | 643 | 4.50 | 4.92 | 712 | ||
| Mt Rawdon1 | Open Pit | 0.30 | 2.89 | 0.58 | 54 | 23.56 | 0.81 | 617 | 26.44 | 0.79 | 671 | 4 |
| Mungari1 | Underground | 2.75 | 0.37 | 5.86 | 70 | 0.71 | 4.70 | 107 | 1.08 | 5.10 | 177 | |
| Mungari1 | Open-Pit | 0.70 | 0.18 | 0.94 | 5 | 9.45 | 1.56 | 474 | 9.63 | 1.55 | 479 | |
| Mungari1 | Total | 0.55 | 4.24 | 75 | 10.16 | 1.78 | 581 | 10.71 | 1.91 | 656 | 5 | |
| Ernest Henry2 | Underground | 0.90 | 10.20 | 0.77 | 253 | 41.20 | 0.49 | 649 | 51.40 | 0.55 | 902 | 7 |
| Marsden | Open Pit | 0.3 | - | - | - | 65.17 | 0.39 | 817 | 65.17 | 0.39 | 817 | 3 |
| Copper Resources Statement | Measured | Indicated | Inferred | Total Resources | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 4.55 | 1.18 | 54 | 150.53 | 0.56 | 836 | 8.38 | 0.68 | 57 | 163.45 | 0.58 | 946 | . | ||
| 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 | 7 |
| Ernest Henry2 | Total | 0.90 | 3.96 | 1.30 | 51 | 20.13 | 1.18 | 238 | 4.50 | 1.00 | 45 | 28.59 | 1.17 | 334 | 6 |
| Mt Carlton1 | Open pit | 0.35 | 0.59 | 0.37 | 2 | 10.36 | 0.41 | 43 | 0.69 | 0.68 | 5 | 11.64 | 0.43 | 50 | . |
| Mt Carlton | Underground | 2.4 | - | - | - | 0.21 | 0.99 | 2 | 0.05 | 1.40 | 1 | 0.25 | 1.06 | 3 | . |
| Mt Carlton | Total | 0.59 | 0.37 | 2 | 10.57 | 0.43 | 45 | 0.74 | 0.73 | 5 | 11.89 | 0.44 | 52 | 4 | |
| Copper Reserves Statement | Proved | Probable | Total Reserve | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | 3.65 | 1.32 | 48 | 81.44 | 0.63 | 516 | 85.09 | 0.66 | 564 | |||
| 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 | 3 |
| Ernest Henry2 | Total | 0.9 | 3.06 | 1.50 | 46 | 12.36 | 0.96 | 119 | 15.42 | 1.07 | 165 | 7 |
| Mt Carlton1 | Open pit | 0.8 | 0.59 | 0.37 | 2 | 3.63 | 0.70 | 25 | 4.22 | 0.64 | 27 | 3 |
| Mt Carlton | Underground | 3.7 | - | - | - | 0.28 | 0.37 | 1 | 0.28 | 0.36 | 1 | 6 |
| Mt Carlton | Total | 0.59 | 0.37 | 2 | 3.91 | 0.66 | 26 | 4.50 | 0.62 | 28 | ||
General Notes:
The figures above are provided in the report entitled “Annual Mineral Resources and Ore Reserve Statement 2017” released to ASX on 19 April 2018.
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
Ernest Henry project is reported on a 100% basis for gold and 30% basis 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). 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 2016” released February 2017 and available to view at www.glencore.com.
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. Phillip Jones; 3. Anton Kruger; 4. Dimitri Tahan; 5. Matt Varvari; 6. Tully Davies; 7. Mark Jamieson (Glencore)
Group Copper 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 Copper Ore Reserve Competent Person (CP) Notes refer to 1. Ryan Kare; 2. Phillip Jones; 3. Anton Kruger; 4. Dimitri Tahan; 5. Matt Varvari; 6. Tully Davies; 7. Mark Jamieson (Glencore)
The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report and that all material assumptions and technical parameters underpinning the estimates in the Report 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 Report.
COMPETENT PERSONS STATEMENT
The information in this statement that relates to the Mineral Resources and Ore Reserves listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is employed on a full-time basis by Evolution Mining Limited and is a member of the institute named in that row. Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Each person named in the table below is a member of the Australasian Institute of Mining and Metallurgy and consents to the inclusion in this report of the matters based on their information in the form and context in which it appears.
| Activity | Competent Person |
|---|---|
| Cowal Mineral Resource | James Biggam |
| Cowal Ore Reserve | Ryan Kare |
| Mungari Mineral Resource | Andrew Engelbrecht |
| Mungari Ore Reserve | Matt Varvari |
| Mt Carlton Mineral Resource | Matthew Obiri-Yeboah |
| Mt Carlton Open Pit Ore Reserve | Anton Kruger |
| Mt Carlton Underground Ore Reserve | Tully Davies |
| Cracow Mineral Resource | Chris Wilson |
| Cracow Ore Reserve | Phillip Jones |
| Mt Rawdon Mineral Resource | Timothy Murphy |
| Mt Rawdon Ore Reserve | Dimitri Tahan |
| Marsden Mineral Resources | Michael Andrew |
| Marsden Ore Reserve | Anton Kruger |
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 2017” released February 2018 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 Report and that all material assumptions and parameters underpinning the estimates in the Report 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 Report