Updated Mineral Resource Statement
Updated Mineral Resources have been reported from the 2018 block model following current consideration of Reasonable Prospects for Eventual Economic Extraction (RPEEE) via an updated assessment of mining methods, costs, commodity pricing and resulting cut-off grades which have informed the generation of conceptual designs used to constrain blocks in the model for reporting.
Table 1 - Salave MRE statement, JORC 2012 (as of 1 February 2025)
Notes:
- Classification of the MRE has been set out in accordance with the requirements set out in the JORC Code (2012 Edition); for more details refer to Appendix 2, Technical Summary.
- The MRE tonnes and grade stated is that material that is constrained by conceptual Mine Shape Optimiser (MSO) shapes produced by incorporation of the following parameters; gold price of US$2,405/oz, mining recovery of 100%, mining dilution of 0%, processing recovery of 97%, mining cost of US$55/t, processing cost of US$25/t, general and administration (G&A) costs of US$5/t, and a royalty of US$2.5/t, reflecting RPEEE, and a cut-off grade of 1.45 g/t Au (at 80% payability).
- All density values were interpolated into the block model from density sampling data using Inverse Distance Weighting (IDW), raised to the second power, except for the CHL and SER domains where a single density value of 2.67 t/m3 was used. The average interpolated density is 2.67 t/m3.
- Tonnes are quoted as rounded to the nearest 100,000 tonnes and contained metal to the nearest 10,000 ounces to reflect these as estimates.
- Rows and columns may not add up exactly due to rounding.
- Mineral Resources that are not Ore Reserves do not have proven economic viability.
- The quantity and grade of Inferred Resources are based on data that are insufficient to allow geological and grade continuity to be confidently interpreted such that they may be classified as Indicated or Measured Mineral Resources. Whilst it is the opinion of the Competent Person that it would be reasonable to expect that Inferred Mineral Resources might be upgraded to Indicated Mineral Resources following additional exploration, it should not be assumed that such upgrading would occur.
The Competent Person responsible for the preparation of the MRE is Mr. Galen White, BSc. (Hons), FAusIMM, FGS.