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Reserves & Resources

The Mineral Resources and Reserves at Sentinel reflect the May 2015 NI 43-101 Technical Report estimates, depleted to December 2017.

Mineral Reserves

The Mineral Reserve estimate for Sentinel as listed in the table below has been based on conventional Whittle 4X optimization, followed by detailed life of mine design and planning accounting for staged pit cutbacks to suit in-pit ore crushing and conveying plus trolley assisted waste haulage, and comprehensive ore and waste mining/production scheduling.

The statement is consistent with depletion from the estimate produced for the 2015 NI 43-101 Technical Report. The predicted plant recoveries are consistent with previous Mineral Reserve estimates, and the estimated marginal cut-off grade is based on the long-term consensus copper price of $3.00/lb Cu.

Mineral Reserve as at December 31, 2017, and reported based on a long-term $3.00/lb Cu price

 Classification

Non-primary Sulphide Ore  Primary Sulphide OreTotal Ore 
Ore (Mt) TCu (%) AsCu (%)  Ore(Mt)TCu (%)  AsCu (%) Ore (Mt)TCu (%) AsCu (%) 
Total Proven 53.4 0.44 0.08664.3 0.500.02717.70.490.02
Total Probable 11.1 0.44 0.08 140.9 0.51 0.02 152.0 0.50 0.02
Total Mineral Reserves 64.6 0.44 0.08 805.2 0.50 0.02 869.8 0.49 0.02

The current depleted Mineral Reserve as at December 31, 2017 for Sentinel has been estimated and verified by the Company’s personnel under the supervision of Michael Lawlor of the Company, who is a qualified person and holds the following valid qualifications: BEng (Mining)(Hons), MEngSc, FAusIMM. The total Measured Mineral Reserve is less than the corresponding total Proven Mineral Reserve for reasons of different cut-off grade criteria.

Mineral Reserve Statement for Sentinel Stockpiles as at December 31, 2017

 Classification

Non-primary Sulphide OrePrimary Sulphide Ore Total Ore 
Ore (Mt) TCu (%) AsCu (%)  Ore (Mt)TCu (%) AsCu (%)  Ore (Mt)TCu (%) AsCu (%) 
Total Proven 5.8 0.39 - 18.40.26 -24.30.29
Total Probable - - - - - - - - -
Total Mineral Reserves 5.8 0.39 - 18.4 0.26 - 24.3 0.29 -

The current depleted Mineral Reserve inventory as at December 31, 2017 for Sentinel has been estimated and verified by the Company’s personnel under the supervision of Michael Lawlor of the Company, who is a qualified person and holds the following valid qualifications: BEng (Mining)(Hons), MEngSc, FAusIMM.

The total Mineral Reserve inventory inclusive of stockpiles is 894.0 Mt at an average grade of 0.49% TCu. The remaining life of mine is approximately 16 years.

Mineral Resource - as at December 31, 2017, and reported using a 0.2% TCu cut-off

Classification Tonnes (Mt) TCu (%) ASCu (%) Ni (%)
Total Measured 655.2 0.56 0.02 0.002
Total Indicated 268.2 0.46 0.01 0.002
Total Meas. plus Ind. 923.3 0.53 0.02 0.002
Total Inferred 135.9 0.37 0.01 0.004

The current depleted Mineral Resource inventory as at December 31, 2017 was estimated and 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.

Mineral Resource Statement for Sentinel Stockpiles as at December 31, 2017

Classification/Stockpile Tonnes (Mt) TCu (%) ASCu (%)
Total Measured 24.3 0.29 -
Total Indicated - - -
Total Meas. plus Ind. 24.3 0.29 -

The current depleted Mineral Resource inventory as at December 31, 2017 was estimated and 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..