Resource

The following tables summarizes the 2018 total mineral resource at the base prices of $2.75/lb copper, $1,179/oz gold, and $22.79/oz silver.

Altar Mineral Resources1
Dec 31, 2013, Updated to Jul 1, 2018

Classification

Cutoff
Grade
NSR $/t

Mineral Resources at 4.67 NSR Cutoff

Contained Metal

Ore
Ktonnes

NSR
$/t

Total
Cu %

Sulfide
Cu %

Gold
Gm/t

Silver
Gm/t

Arsenic
%

Sulfide Cu Million Lbs

Gold Ozs x 1000

Silver Ozs x 1000

 

 

 

 

 

 

 

 

 

 

 

 

Measured

$4.67

995,001

$15.90

0.358

0.340

0.083

0.96

0.028

7,458

2,655

30,710

Indicated

$4.67

1,048,899

$14.09

0.312

0.305

0.065

0.90

0.023

7,053

2,192

30,351

Measured + Indicated

$4.67

2,043,900

$14.97

0.334

0.322

0.074

0.93

0.025

14,511

4,847

61,061

 

 

 

 

 

     

 

 

Inferred

$4.67

555,951

$12.88

0.283

0.279

0.060

0.87

0.022

3,420

1,072

15,551

 

 

 

 

 

 

 

 

 

 

 

 
 

Total Material of ore and waste in the Altar Cone: 8,041,551 ktonnes

Quebrada de La Mina, Mineral Resources1

Classification

Cutoff

Grade

NSR $/t

Mineral Resources at 13.17 NSR Cutoff

Contained Metal

Ore

Ktonnes

NSR

$/t

  

Gold

Gm/t

Silver

Gm/t

  

Gold

Ozs x 1000

Silver

Ozs x 1000

 

 

 

 

  

 

 

 

 

 

 

Measured

$13.17

10,911

$27.94

  

0.930

3.49

 

 

326

1,224

Indicated

$13.17

2,623

$21.24

  

0.720

5.94

 

 

61

501

Measured + Indicated

$13.17

13,534

$26.64

  

0.889

3.96

 

 

387

1,725

 

 

 

     

 

 

  

 

 

 

 

 

 

  

 

 

  

Inferred

$13.17

603

$23.80

  

0.730

7.87

 

 

14

153

 

 

 

 

 

 

  

 

 

  
 

Total Material of ore and waste in the QDM Cone:

39,776

ktonnes

    

Total Altar and Quebrada de La Mina, Mineral Resources1

Classification

Cutoff

Grade

NSR $/t

Mineral Resources

Contained Metal

Ore

Ktonnes

NSR

$/t

Total

Cu %

Sulfide

Cu %

Gold

Gm/t

Silver

Gm/t

Arsenic

%

Sulfide Cu

Million Lbs

Gold

Ozs x 1000

Silver

Ozs x 1000

 

 

 

 

     

 

 

 

Measured

4.67 at

1,005,912

$16.03

0.354

0.336

0.092

0.99

0.028

7,458

2,981

31,935

Indicated

Altar

1,051,522

$14.11

0.311

0.304

0.067

0.91

0.023

7,053

2,253

30,852

Measured + Indicated

13.17 at QDM

2,057,434

$15.05

0.332

0.320

0.079

0.95

0.025

14,511

5,234

62,786

            

Inferred

 

556,554

$12.89

0.283

0.279

0.061

0.88

0.022

3,420

1,087

15,703

Notes:

  1. The resource statement is included within a floating cone defined with the following metal prices: $2.75/lb Copper, $1,179/oz Gold, $22.79/oz Silver
  2. Copper and Arsenic grades are in percent of dry weight.
  3. Gold and Silver grades are in grams per metric tonne.
  4. Sulfide copper reflects the estimated grade of copper that could be processed by sulfide flotation.
  5. There are no mineral reserves at Altar or QDM at this time.
  6. Gold and Silver contained are in Thousands of Troy Ounces.
  7. Weighted average grade calculations may not balance due to rounding.

Click here to view:
Technical Report Estimated Mineral Resources: Altar Project Amended September 28, 2018

The cutoff grades are presented in terms of Net Smelter Return (NSR) which reflects the combined benefit of producing copper, gold, and silver.

The qualified person for the estimation of the mineral resource was John Marek of Independent Mining Consultants, Inc. Substantial metal price or production cost changes could materially change the estimated mineral resources in either a positive or a negative direction. Detailed testing and design of the process facility and concentrate handling facilities could have a positive or negative material impact on the resources at Altar.

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