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Resource Estimate Comparison (previous v. current)
For the new Resource Estimate the Company has adopted a different approach from previous estimates by specifically targeting higher-grade mineralization and restricting the search radius for Inferred Resources. This allows for a more realistic estimation of contained gold in the deposit and potential enhancement in the projects economic viability. The following tables illustrate the improved quality of the New Resource Estimate from the previous Resource Estimate, with respect to grade, size and classification in the pit-constrained models:
Comparison of Pit-Constrained Indicated Mineral Resource Estimate (Previous v. New)---------------------------------------------------------------------------- Previous Previous NEW NEW Change Change % Change % Change---------------------------------------------------------------------------- Average Cumula- Average Cumula- Average Cumula- Average Cumula-Cut-off Au tive Au tive Au tive Au tiveGrade Grade Au oz Grade Au oz Grade Au oz Grade Au ozg/t g/t (000's) g/t (000's) g/t (000's) % %----------------------------------------------------------------------------1.5 2.01 656 2.34 1,086 0.33 430 16% 66%----------------------------------------------------------------------------1.0 1.46 1,497 1.64 1,982 0.18 485 12% 32%----------------------------------------------------------------------------0.5 0.94 3,112 1.02 3,686 0.08 574 8% 18%---------------------------------------------------------------------------- Comparison of Pit-Constrained Inferred Mineral Resource Estimate (Previous v. New)---------------------------------------------------------------------------- Previous Previous NEW NEW Change Change % Change % Change---------------------------------------------------------------------------- Average Cumula- Average Cumula- Average Cumula- Average Cumula-Cut-off Au tive Au tive Au tive Au tiveGrade Grade Au oz Grade Au oz Grade Au oz Grade Au ozg/t g/t (000's) g/t (000's) g/t (000's) % %----------------------------------------------------------------------------1.5 1.77 87 2.61 214 0.84 127 48% 146%----------------------------------------------------------------------------1.0 1.31 290 1.77 361 0.46 71 35% 24%----------------------------------------------------------------------------0.5 0.84 807 1.08 625 0.24 -182 28% -23%----------------------------------------------------------------------------
At all cut-offs in the Indicated category, the Estimated Resources have all grown and grades have increased from 0.08 to 0.33 g/t Au, while grades for all cut-offs in the Inferred category have increased between 0.24 and 0.84 g/t Au. Although there are some losses in the Inferred classification, these are mostly due to upgrading of previous Inferred Resources into new Indicated Resources and/or the restricted search radius for new Inferred Resources. When compared solely on Average Grade, in all cases the new Resource Estimate has increased significantly from the previous Resource Estimate in terms of size and quality.
