Mineral Resources
The Mineral Resource, inclusive of the Mineral Reserves inventory is shown in the following table and reflects the position as at December 31, 2021
Mineral Resource – as at December 31, 2021 and reported using the geological limits of the massive sulphides
| Classification |
Tonnes (kt) |
Cu (%) |
Zn (%) |
Au (g/t) |
Ag (g/t) |
S (%) |
| Total Measured |
3,564 |
0.48 |
0.30 |
0.40 |
10.00 |
40.58 |
| Total Indicated |
- |
- |
- |
- |
- |
- |
| Total Meas. plus Ind. |
3,564 |
0.48 |
0.30 |
0.40 |
10.00 |
40.58 |
| Total Inferred |
- |
- |
- |
- |
- |
- |
This December 31, 2021, mineral resource inventory has been prepared and verified by Mikko Numminen who is a qualified person and holds the following
valid qualifications: EFG, FAMME.
Mineral Reserves
The mineral reserve for Pyhäsalmi reflects the position as at December 31, 2021. The mineral reserve estimate is based on a copper price of $3.75/lb and $1.10/lb for zinc. The estimate is derived from conventional underground mine design and life of mine production scheduling.
Mineral Reserves – as at December 31, 2021, and reported based on a $3.75/lb Cu price
| Classification |
Primary Sulphide Ore |
|
Ore (Mt) |
Cu (%) |
Zn (%) |
Au (g/t) |
Ag (g/t) |
S (%) |
| Total Proven |
0.2 |
0.48 |
0.10 |
0.40 |
10.00 |
44.24 |
| Total Probable |
- |
- |
- |
- |
- |
- |
| Total Mineral Reserves |
0.2 |
0.48 |
0.10 |
0.40 |
10.00 |
44.24 |
This Mineral Reserve estimated as at December 31, 2021 has been prepared by the PMO site team under the supervision of, and verified
by, Joseph Boaro of the Company. Joseph Boaro is a qualified person, a member of the Professional Engineers Ontario, and holds the
following valid qualifications: P.Eng
At current processing throughput rates the remaining life of mine is expected to be less than one year from December 31, 2021.