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Reserves & Resources

Mineral Reserves

The Mineral Reserves estimate at December 31, 2012 is based on price assumptions of $2.75/lb for copper and $1.00/lb for zinc and a net smelter return cut-off of $65/tonne.

 

Contained Metal (x 1000)

Category

Tonnes
(x 1000)

Cu
%

Zn
%

Au g/t

Ag g/t

Cu tonnes

Zn tonnes

Au ounces

Ag ounces

Proven

4,490

3.02

3.19

0.36

27.0

136

143

52

3,898

Probable

2,585

3.12

4.42

0.43

36.0

81

114

36

2,992

Total

7,075

3.06

3.64

0.39

30.3

216

258

89

6,824

The Mineral Reserve estimate was prepared under the supervision of Joseph Boaro, P. Eng. (Inmet Mining).

Mineral Resources

The Mineral Resources estimate as at December 31, 2012:

 

Contained Metal (x 1000)

Category

Tonnes (x 1000)

Cu
%

Zn
%

Au g/t

Ag g/t

Cu tonnes

Zn tonnes

Au ounces

Ag ounces

Measured

4,460

2.67

1.74

0.34

10.0

119

78

48

1,362

Indicated

3,230

2.67

2.42

0.56

18.0

86

78

58

1,869

Total

7,690

2.67

2.03

0.43

13.4

205

156

106

3,231

Inferred

760

2.71

6.83

-

-

21

52

-

-

Mineral resources as at December 31, 2012, were estimated by Robert Sim, P. Geo., of SIM Geological Inc.

Resource estimates include only material in addition to those used to generate reserves and are based on the same metal prices and a lower net smelter return cut-off of $59/tonne.