Mineral Reserve
The December 31, 2009 mineral reserves have been depleted by 2010 actual production and the position as at December 31, 2010 is shown as follows:
| |
Ore Volume |
Ore Tonnes |
TCu% |
Au g/t |
| Proved Reserve |
2,992,000 |
10,035,000 |
1.30 |
1.02 |
| Probable Reserve |
4,441,000 |
16,326,000 |
1.24 |
0.77 |
| Total |
7,433,000 |
26,361,000 |
1.26 |
0.87 |
This Mineral Reserve as at December 31, 2010 has been delineated by independent consulting mining engineer Anthony Cameron of A&J Cameron and Associates based in Perth, Australia. Anthony Cameron is a qualified person under 43-101 and holds the following valid qualifications: BE (Mining), Grad Dip Bus, M Comm. Law, and is a fellow of the AuslMM. Reserves are based on a copper equivalent grade of 0.65% CuEq using a copper price of $1.50/lb and gold price of $800/oz. The optimization that was used to identify the reserves was conducted in early 2009. Surface stockpiles above cut-off are also included in the reserve.
Mineral Resource
At 0.75% Cu cut-off as at December 31, 2010
| Ore Type |
Classification |
Tonnes |
Cu% |
Au g/t |
| Sulphide |
Measured |
6,430,000 |
1.55 |
1.05 |
| Indicated |
17,830,000 |
1.35 |
0.84 |
| Total
| 24,260,000
| 1.40
| 0.89
|
| Inferred |
1,190,000 |
1.06 |
0.76 |
| |
| Oxide |
Measured |
50,000 |
1.87 |
2.10 |
| Indicated |
30,000 |
2.67 |
0.70 |
| Total |
80,000 |
2.21 |
1.50 |
| Inferred |
10,000 |
1.09 |
0.79 |
This Mineral Resource 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. Chris Bargmann is a qualified person under 43-101 who holds the following valid qualifications: FGS (CGeol) MAuslMM, and has verified the data. This Mineral Resource has been depleted to reflect the 2010 actual production.