Summary of Resources as of 30 Jun 2017
Table 1 below presents a summary of Mineral Resources Estimates for the Ciemas Gold Project (by prospect area) as at 30 June 2017;
The Measured + Indicated Resources Estimation is approximately 3,040 thousand tonnes (“kt”), contains approximately 26,740 kg of gold with an average gold grade of approximately 8.8 g/t.
The Inferred Resources Estimation is approximately 2,700kt, contains approximately 18,390 kg of gold with an average grade of approximately 6.8 g/t Au.
Table 1: Mineral Resources Estimates for the Ciemas Gold Project (by prospect area) as at 30 June 2017
|As of 30 June 2017||As of 30 June 2016|
|Property||Category||Resource (kt)||Au (g/t)||Au (kg)||Resource (kt)||Au (g/t)||Au (kg)|| Changes*
|Cibak and Cipancar||Inferred||1,100||5.6||6,160||+100%|
|Measured + Indicated||3,040||8.8||26,740||3,040||8.8||26,740||0%|
Note: Change from previous update as of 30 June 2016 changes are relative to contained metal as estimated; positive number denotes increase and negative number denotes decrease.
*Cut-off grades applied for Mineral Resource statement are 1.0 g/t Au for the 4 prospects, based on the assumption of open pit mining, and 2.5 g/t Au for Cibak and Cipancar, based on the assumption of underground mining..
*Mineral resources are not ore reserves and do not demonstrate economic viability.