Please see News Release Mar 22, 2021 reporting New 2021 Mineral Resource Estimate by clicking here
Altar Mineral Resource Estimate Highlights
Altar Central & Altar East:
The open pit constrained Mineral Resources are summarized below in Table 1 and Table 2.
All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
Mineral Resources for Altar East, Altar Central and QDM Gold are based on prices of US$3/lb copper, US$1,500/oz gold and US$20/oz silver.
There are no reserves currently at the Altar project.
Altar East and Altar Central use a 0.3% CuEq (US$13.99 NSR/t) cut-off grade.
QDM Gold utilizes a 0.33 AuEq (US$13.17 NSR/t) cut-off grade for sulphide mineralization and a 0.7 AuEq (US$13.17 NSR/t) cut-off grade for oxide mineralization.
NSR value for Altar East and Altar Central material is as follows: NSR (US$/t) = 28.241 x Cu% + 20.294 x Au ppm + 0.311 x Ag ppm -0.482.
NSR value for QDM Gold material is as follows: NSR (US$/t) = 18.733 x Au ppm + 0.311 x Ag in oxide and 39.808 x Au ppm + 0.311 x Ag ppm in sulphide.
AuEq and CuEq values are based on prices of US$3/lb copper, US$1,500/oz gold, US$20/oz silver, and account for all metal recoveries and smelting/refining charges. CuEq = Cu% + 0.4207 x Au ppm + 0.0064 x Ag ppm, AuEq = Au ppm + 0.0166 x Ag ppm in oxide and Au ppm + 0.0078 x Ag ppm in sulphide.
Mineral Resources are reported in relation to a conceptual constraining pit shell in order to demonstrate reasonable prospects for eventual economic extraction, as required by the definition of Mineral Resource in NI 43-101; mineralization lying outside of the pit shell is excluded from the Mineral Resource.
Details of NSR and Equivalent calculations are in the Technical Report.