Mineral Resources
A Mineral Resource estimate of PPS mineralization was updated in January 2022. The estimate used updated
drill hole results together with an updated 3D geology model of the spatial distribution of copper, lead, zinc and
silver mineralization. Grade interpolation parameters were guided by geology, styles of mineralization, drill hole
spacing and geo-statistical analysis of sample data. The Mineral Resource estimate was classified according
to geological and grade continuity, QAQC, density data, drill hole grid spacing and confidence in the panel
grade estimate.
The Mineral Resource estimate for CLC presented in the table below is consistent with the estimate produced
for the CLC Technical Report.
Mineral Resource - as at December 31, 2021, and reported using a 1% Cu cut-off grade
| Classification |
Tonnes (Mt) |
CuEq (%) |
Cu (%) |
Au (g/t) |
Pb (%) |
Ag (g/t) |
Zn (%) |
| Polymetallic Primary Sulphide (1% CuEq cutoff grade*) |
| Total Measured |
18.3 |
2.81 |
1.27 |
- |
1.37 |
33.39 |
3.11 |
| Total Indicated |
17.9 |
2.20 |
1.24 |
- |
0.89 |
25.36 |
1.87 |
| Subtotal Meas. plus Ind. |
36.2 |
2.51 |
1.26 |
- |
1.13 |
29.42 |
2.50 |
| Total Inferred |
7.09 |
1.93 |
1.23 |
- |
0.73 |
29.47 |
1.12 |
| Secondary Sulphide (1% Cu cutoff grade) |
| Total Measured |
0.86 |
- |
6.23 |
- |
- |
- |
- |
| Total Indicated |
0.06 |
- |
2.51 |
- |
- |
- |
- |
| Subtotal Meas. plus Ind. |
0.91 |
- |
6.01 |
- |
- |
- |
- |
| Total Inferred |
- |
- |
- |
- |
- |
- |
- |
| Gossan (1 g/t Au cutoff grade) |
| Total Measured |
- |
- |
- |
- |
- |
- |
- |
| Total Indicated |
0.01 |
- |
- |
1.54 |
0.83 |
100.47 |
- |
| Subtotal Meas. plus Ind. |
0.01 |
- |
- |
1.54 |
0.83 |
100.47 |
- |
| Total Inferred |
- |
- |
- |
- |
- |
- |
- |
The current depleted Mineral Resource as at December 31, 2021, 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, FAIG (#7323).
Mineral Resource Statement for Cobre Las Cruces stockpiles - as at December 31, 2021
| Classification |
Tonnes (Mt) |
CueQ (%) |
Cu (%) |
Au (g/t) |
Pb (%) |
Ag (g/t) |
Zn (%) |
| Primary Stockpiles |
| Total Measured |
- |
- |
- |
- |
- |
- |
- |
| Total Indicated |
5.0 |
2.46 |
1.19 |
- |
1.63 |
29.40 |
2.21 |
| Total Meas. plus Ind. |
5.0 |
2.46 |
1.19 |
- |
1.63 |
29.40 |
2.21 |
| Gossan Stockpiles |
| Total Measured |
- |
- |
- |
- |
- |
- |
- |
| Total Indicated |
2.7 |
- |
- |
2.58 |
3.30 |
82.3 |
- |
| Total Meas. plus Ind. |
2.7 |
- |
- |
2.58 |
3.30 |
82.3 |
- |
The current stockpile Mineral Resource inventory as at December 31, 2021, was verified by David Gray of the Company who is a qualified person and holds
the following valid qualifications: BSc Hons(Geo), MAusIMM, FAIG (#7323).
The CLC secondary sulfide copper reserves were depleted by end of February 2021. Secondary stockpiles at
CLC were 141 thousand tonnes at 2.11% Cu. These have now been completely processed.