Far Southeast project - Mineral Resources
The Inferred Mineral Resource for the FSE deposit, first declared in August 2012, is 891.7Mt at 0.7g/t gold and 0.5% copper for 19.8Moz of gold and 9,921Mlb of copper. The resource was reported inside a mining constraint, which assumed an eventual non-selective, bulk underground mining method. The classification of Inferred Resource was applied based on drill hole spacing, estimation quality, geological continuity and geological understanding of the deposit in early 2012 supported by a view on reasonable prospects for eventual economic extraction. The Inferred Resource has a lower confidence than an Indicated Resource and cannot be converted to a Mineral Reserve.
| Resource classification | Tonnes (Mt) |
Grade (Au g/t) |
Metal (Au Moz) |
Grade (Cu %) |
Metal (Cu Mlb) |
|
| Inferred | 891.7 | 0.7 | 19.8 | 0.5 | 9,921 | |
| Total | 891.7 | 0.7 | 19.8 | 0.5 | 9,921 |
Table 1: FSE Mineral Resources effective August 31, 2012
Notes:
| – | These Mineral Resources are not Mineral Reserves as an assessment to a minimum of a pre-feasibility study is required |
| – | The Mineral Resource is reported in accordance with the SAMREC Code |
| – | The Mineral Resource is reported within an optimised underground bulk mining shell that is derived using scoping study mining, processing and cost parameters, and commodity prices of US$1,650/oz gold and US$8,600/t copper. All Inferred Resource material within the shell is reported |
| – | The Mineral Resource is reported without dilution and ore loss parameters |
| – | Rounding-off of figures may result in minor computational discrepancies. Where this happens, it is not deemed significant |
| – | Lepanto Consolidated Mining Company holds a 60% interest, while Gold Fields holds a 40% interest in the Far Southeast Project Attributable metal is 11.9Moz gold and 5,953Mlb copper to Lepanto and 7.9Moz gold and 3,968Mlb copper to Gold Fields |