FM TSX: Last: $ 14.87 +0.08 +0.54% Volume: 2,097,689 15-20 min delay 11-17-2017 03:59 PM
Our-Business
Our Business

Reserves & Resources

Mineral Reserves

The Mineral Reserves estimate at December 31, 2013 has been estimated utilizing the updated CSA Resource contained within the latest final pit design profile developed during 2013. The estimate is based on a copper equivalent cut-off grade of 0.46% CuEq, a copper price of $3.00/lb and gold price of $1200/oz.

  Tonnes TCu% Au g/t
Proven 7,500,000 1.16 0.60
Probable 15,400,000 0.92 0.70
Sub Total 22,900,000 1.00 0.67
High Grade Stockpiles - Proven 3,400,000 1.03 1.02
Total Proven 10,900,000 1.12 0.73
Total Probable 15,400,000 0.92 0.70
 
Total Proven and Probable
26,300,000 1.01 0.71
LG Stockpiles Proven
4,900,000 0.44 0.59
 
Total Reserves 31,300,000 0.92 0.69

This Mineral Reserve at 31st December 2013 has been delineated and verified by independent consulting Mining Engineer, Anthony Cameron of Cameron Mining Consulting Ltd. He is a qualified person and holds the following valid qualifications: BE (Mining), Grad Dip Bus, M Comm. Law, and FAusIMM.

Mineral Resources

The Mineral Resource estimate at December 31, 2013 uses a cut-off grade of 0.5% copper and excludes all current low grade stockpiled sulphide ore and all stockpiled oxide ore

Ore Type Classification Tonnes Cu% Au g/t
  Sulphide Measured 7,200,000 1.33 0.64
Indicated 19,900,000 1.01 0.65
Total 27,100,000 1.09 0.65
HG stockpile - Measured 3,400,000 1.03 1.02
Total Measured and Inferred
30,500,000 1.08 0.69
Inferred 2,500,000 1.15 0.78
 
  Oxide Measured - - -
Indicated 4,200,000 1.16 1.09
Total 4,200,000 1.16 1.09
Inferred 3,700,000 1.19 1.41

This Mineral Resource estimate has been derived from the December 31, 2009 model that was developed by independent geologist Christopher Bargmann, formerly of the consulting group Snowden Pty Ltd based in London UK. Christopher Bargmann is a Qualified Person under NI 43-101 with the following valid qualifications: FGS (CGeol) MAusIMM and has verified the data. The model was updated by Galen White, Principal Resource Consultant with CSA Global (UK) Ltd. Galen White is a Qualified Person under NI 43-101; he holds the following valid qualifications: BSc(Hons), FAusIMM, FGS.