Marmato Mineral Reserves (effective June 30, 2022)
| Area |
Category |
Tonnes (kt) |
Grade Au (g/t) |
Grade Ag (g/t) |
Contained Au (koz) |
Contained Ag (koz) |
| Upper Mine |
Proven |
2,195.5 |
4.31 |
16.4 |
304 |
1,157 |
|
Probable |
4,946.9 |
4.09 |
14.3 |
650 |
2,273 |
|
Total |
7,142.3 |
4.16 |
14.9 |
954 |
3,431 |
| Lower Mine |
Proven |
- |
- |
- |
- |
- |
|
Probable |
24,135.0 |
2.87 |
3.5 |
2,224 |
2,707 |
|
Total |
24,135.0
|
2.87
|
3.5
|
2,224
|
2,707 |
| Total |
Proven |
2,195.5 |
4.31 |
16.4 |
304 |
1,157 |
|
Probable |
29,081.8 |
3.08 |
5.3 |
2,874 |
4,980 |
|
Total |
31,277.3 |
3.16 |
6.1 |
3,178 |
6,138 |
Notes:
- The Upper Mine mineral reserve estimate was prepared by Anton Chan, BEng, M.Sc., P.Eng, MMSAQP and the Lower Mine mineral reserve estimate was prepared by Joanna Poeck, BEng Mining, SME-RM, MMSAQP, both of whom are Qualified Persons as defined by NI 43-101.
- All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add up due to rounding. Mineral Resources are reported inclusive of the Mineral Reserves.
- Upper Mine mineral reserves are reported above a cut-off grade of 2.05 g/t Au and Lower Mine mineral reserves are reported above a cut-off grade of 1.62 g/t. The cut-off grades are based on a metal price of US$1,500 per ounce of gold, gold recoveries of 90% for the Upper Mine and 95% for the Lower Mine, and costs of US$89 per tonne for the Upper Mine and US$74.3 per tonne for the Lower Mine.
- There are no known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the mineral reserves.
Marmato Mineral Resources (effective June 30, 2022)
| Area |
Category |
Tonnes (Mt) |
Grade Au (g/t) |
Grade Ag (g/t) |
Contained Au (koz) |
Contained Ag (koz) |
| Upper Mine |
Measured (M) |
2.8 |
6.04 |
27.8 |
545 |
2,509 |
|
Indicated (I) |
12.7 |
4.14 |
16.8 |
1,691 |
6,847 |
|
M&I |
15.5 |
4.49 |
18.8 |
2,236 |
9,356 |
|
Inferred |
2.6 |
3.03 |
15.4 |
250 |
1,265 |
| Lower Mine |
Measured (M) |
0.0 |
2.73 |
17.8 |
0 |
3 |
|
Indicated (I) |
46.0 |
2.54 |
3.3 |
3,761 |
4,912 |
|
M&I |
46.0 |
2.54 |
3.3 |
3,761 |
4,914 |
|
Inferred |
33.1 |
2.39 |
2.3 |
2,537 |
2,418 |
| Total |
Measured (M) |
2.8 |
6.04 |
27.8 |
545 |
2,512 |
|
Indicated (I) |
58.7 |
2.89 |
6.2 |
5,452 |
11,758 |
|
M&I |
61.5 |
3.03 |
7.2 |
5,997 |
14,270 |
|
Inferred |
35.6 |
2.43 |
3.2 |
2,787 |
3,682 |
Notes:
- Measured and Indicated mineral resources are inclusive of mineral reserves.
- Mineral resources are not mineral reserves and have no demonstrated economic viability.
- The mineral resource estimate was prepared by Benjamin Parsons, MSc, of SRK, who is a Qualified Person as defined by National Instrument 43-101. Mr. Parsons has reviewed and verified the drilling, sampling, assaying, and QAQC protocols and results, and is of the opinion that the sample recovery, preparation, analyses, and security protocols used for the mineral resource estimate are reliable for that purpose.
- Totals may not add up due to rounding.
- Mineral resources are reported above a cut-off grade of 1.8 g/t Au for the Upper Mine and 1.3 g/t Au for the Lower Mine. The cut-off grades are based on a metal price of US$1,700 per ounce of gold, and gold recoveries of 90% for the Upper Mine and 95% for the Lower Mine.
- The Upper Mine is defined as the current operating mine levels above the 950 m elevation and the Lower Mine is defined as below the 950 m elevation.
- There are no known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the mineral resources.
Qualified Person
This technical information was reviewed and approved by Pamela De Mark, P.Geo, Senior Vice President, Technical Services of Aris Mining, who is a Qualified Person as defined by NI 43-101.