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Reserves & Resources

The Sentinel Resource as at December 31, 2014 using a 0.2% Cu cut-off:

Classification Tonnes (Mt) Cu (%)
Measured 744.5 0.56
Indicated 279.3 0.47
Total Measured & Indicated 1033.4 0.53
Inferred 138.9 0.37

This updated December 31, 2014 Resource was delineated and verified by David Gray of the Company who is a qualified person and holds the following valid qualifications: BSc Hons Geo, MAusIMM, Pr.Sci.Nat.

Mineral Reserve

The Mineral Reserve estimate for Sentinel has been based on conventional Whittle 4X optimization, followed by detailed life of mine design and planning accounting for staged pit cutbacks to suit in-pit ore crushing and conveying plus trolley assisted waste haulage, and comprehensive ore and waste mining/production scheduling. The optimization basis was updated during 2014 to account for new geotechnical information and revised/detailed incremental mining costs reflective of in-pit ore crushing and trolley assisted waste haulage. The predicted plant recoveries are consistent with previous Mineral Reserve estimates, and the estimated marginal cut-off grade reflects a copper price of $3.00/lb Cu and 6% Zambian Government royalty (applicable at the time of the estimate).

The Mineral Reserve at December 31, 2014 is shown below at a cut-off grade of 0.2% Cu.

Classification Tonnes (Mt) Cu (%)
Proved 822 0.50
Probable 166.2 0.51
Total Reserves 988.2 0.50

For the year end December 31, 2014 the Mineral Reserves have been delineated and verified by the Company’s Mining Engineer Mike Lawlor, who is a qualified person and holds the following current qualifications: BEng (Mining)(Hons), MEngSc, FAusIMM.