Mineral Resources
The Mineral Resource estimate for Cobre Las Cruces, inclusive of the Mineral Reserve inventory, is presented in the table below and reflects the CLC Technical Report estimates and depleted to December 31, 2020. The additional stockpile resource as at the same date is listed in the Cobre Las Cruces stockpile table below.
Mineral Resource - as at December 31, 2020, and reported using a 1% Cu cut-off grade
| Classification |
Tonnes (Mt) |
Cu (%) |
Au (g/t) |
Pb (%) |
Ag (g/t) |
Zn (%) |
| Secondary Sulphide |
| Total Measured |
0.9 |
6.80 |
- |
- |
- |
- |
| Total Indicated |
0.0 |
5.32 |
- |
- |
- |
- |
| Subtotal Meas. plus Ind. |
0.9 |
6.75 |
- |
- |
- |
- |
| Total Inferred |
- |
- |
- |
- |
- |
- |
| Gossan |
| Total Measured |
- |
- |
- |
- |
- |
- |
| Total Indicated |
0.01 |
- |
1.29 |
1.43 |
28.53 |
- |
| Subtotal Meas. plus Ind. |
0.01 |
- |
1.29 |
1.43 |
28.53 |
- |
| Total Inferred |
- |
- |
- |
- |
- |
- |
| Primary Sulphide |
| Total Measured |
- |
- |
- |
- |
- |
- |
| Total Indicated |
- |
- |
- |
- |
- |
- |
| Subtotal Meas. plus Ind. |
- |
- |
- |
- |
- |
- |
| Total Inferred |
34.4 |
1.12 |
- |
1.23 |
28.83 |
2.64 |
The current depleted Mineral Resource as at December 31, 2020, was estimated and verified under the supervision of David Gray of the Company who is a
qualified person and holds the following valid qualifications: BSc Hons(Geo), MAusIMM, Pr.Sci.Nat.
Mineral Resource Statement for Cobre Las Cruces stockpiles - as at December 31, 2020
| Classification |
Tonnes (Mt) |
Cu (%) |
Au (g/t) |
Pb (%) |
Ag (g/t) |
Zn (%) |
| Primary Stockpiles |
| Total Measured |
- |
- |
- |
- |
- |
- |
| Total Indicated |
5.0 |
1.19 |
- |
1.63 |
- |
2.21 |
| Total Meas. plus Ind. |
5.0 |
1.19 |
- |
1.63 |
- |
2.21 |
| Secondary Stockpiles |
| Total Measured |
- |
- |
- |
- |
- |
- |
| Total Indicated |
0.1 |
2.11 |
- |
- |
- |
- |
| Total Meas. plus Ind. |
0.1 |
2.11 |
- |
- |
- |
- |
| Gossan Stockpiles |
| Total Measured |
- |
- |
- |
- |
- |
- |
| Total Indicated |
2.7 |
- |
2.58 |
3.30 |
82.30 |
- |
| Total Meas. plus Ind. |
2.7 |
- |
2.58 |
3.30 |
82.30 |
- |
The current stockpile Mineral Resource inventory as at December 31, 2020, was 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.
While the Primary Sulphide material is partly associated with the current open pit mining operations, any exploitation of this
mineralization requires completion of the current technical evaluations, together with approvals for a significant depth extension to the current operations.
Mineral Reserves
The Mineral Reserve estimate for CLC is shown below and reflects the position as at December 31, 2020. The estimate is a
depletion of the June 30, 2015, estimate reported in the CLC Technical Report and is based on a copper price of $2.75/lb.
The entire inventory listed is stockpiled non-primary sulphide ore. At current processing rates the ore stockpile will be
exhausted by the end of January 2021.
Mineral Reserve Statement for Las Cruces - as at December 31, 2020, and reported based upon at $2.75/lb Cu price and using a 1% Cu cut-off grade
| Classification |
Non-primary Sulphide Ore |
Primary Sulphide Ore |
Total Ore |
|
Ore (Mt) |
TCu (%) |
AsCu (%) |
Ore (Mt) |
TCu (%) |
AsCu (%) |
Ore (Mt) |
TCu (%) |
AsCu (%) |
| Total Proven |
0.14 |
2.11 |
- |
- |
- |
- |
0.14 |
2.11 |
- |
| Total Probable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Total Mineral Reserves |
0.14 |
2.11 |
- |
- |
- |
- |
0.14 |
2.11 |
- |
This Mineral Reserve estimate as at December 31, 2020, has been estimated and verified under the supervision of independent consulting Mining Engineer,
Anthony Cameron of Cameron Mining Consulting Ltd. Anthony Cameron is a qualified person and holds the following valid qualifications: BE (Mining), Grad
Dip Bus, M Comm. Law, FAusIMM.
In 2021 the work mainly will be focused in restoration activities and mining the tailing installation (IET).