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Mineral Resources

The current Mineral Resource for the Caballo Blanco district is limited to the La Paila project, which is exposed at surface and where the majority of the previous work was completed. The resource is tabulated below at a range of gold cut-offs constrained within a conceptual open pit using metal prices of $1150 US / oz Au and $21 US / oz Ag. A cut-off of 0.11 g/t gold has been highlighted as a possible open pit cut-off in the following Tables. A total of 200 drill holes were available for analysis with 1,193 downhole surveys and 18,504 assays for gold and silver.

The existing La Paila Mineral Resource is summarised in the tables below. One of the aims of the forthcoming exploration program is to test for extensions to these resources, given the mineralisation is open in three directions.

Indicated Resource within Total Blocks inside Conceptual pit 36
Au Cut-off
(g/t)
Tonnes > Cut-off
(tonnes)
Grade > Cut-off Contained Metal
Au (g/t) Ag (g/t) Au (ozs) Ag (ozs)
0.11 31,220,000 0.52 2.16 521,000 2,170,000
0.12 30,740,000 0.53 2.18 519,000 2,150,000
0.14 29,960,000 0.54 2.19 515,000 2,110,000
0.15 29,600,000 0.54 2.20 514,000 2,090,000
0.20 27,190,000 0.57 2.25 500,000 1,970,000
0.30 22,140,000 0.65 2.35 460,000 1,670,000
0.40 17,330,000 0.73 2.45 406,000 1,370,000
0.50 12,820,000 0.83 2.58 341,000 1,060,000
0.60 9,250,000 0.94 2.71 278,000 810,000
0.70 6,840,000 1.04 2.92 228,000 640,000
0.80 4,980,000 1.14 3.14 183,000 500,000
0.90 3,640,000 1.25 3.35 147,000 390,000

 

Inferred Resource within Total Blocks inside Conceptual pit 36
Au Cut-off
(g/t)
Tonnes > Cut-off
(tonnes)
Grade > Cut-off Contained Metal
Au (g/t) Ag (g/t) Au (ozs) Ag (ozs)
0.11 8,630,000 0.34 2.14 95,000 590,000
0.12 8,490,000 0.35 2.16 94,000 590,000
0.14 8,220,000 0.35 2.20 93,000 580,000
0.15 8,050,000 0.36 2.22 92,000 580,000
0.20 6,910,000 0.39 2.33 86,000 520,000
0.30 4,270,000 0.47 2.92 64,000 400,000
0.40 2,330,000 0.57 3.16 43,000 240,000
0.50 1,380,000 0.66 3.62 29,000 160,000
0.60 780,000 0.75 4.50 19,000 110,000
0.70 390,000 0.85 5.25 11,000 70,000
0.80 170,000 0.99 4.11 5,000 20,000
0.90 110,000 1.08 2.70 4,000 10,000

 

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