Salares Norte project - Mineral Resources
Salares Norte classified Mineral Resource
| Deposit | Class | Tonnes (Mt) |
Gold (g/t) |
Silver (g/t) |
Gold (Moz) |
Silver (Moz) |
|
|---|---|---|---|---|---|---|---|
| Brecha Principal | Indicated | 15.610 | 5.18 | 83.06 | 2.601 | 41.683 | |
| Inferred | 0.911 | 2.12 | 14.59 | 0.062 | 0.428 | ||
| Sub-total | 16.521 | 5.01 | 79.28 | 2.663 | 42.111 | ||
| Agua Amarga | Indicated | 5.345 | 5.18 | 40.09 | 0.890 | 6.890 | |
| Inferred | 1.432 | 2.40 | 9.93 | 0.110 | 0.457 | ||
| Sub-total | 6.777 | 4.59 | 33.71 | 1.000 | 7.347 | ||
| Total | 23.298 | 4.89 | 66.03 | 3.663 | 49.458 |
| Total Mineral Resource | Tonnes (Mt) | Grade Au and Ag = g/t | Content Au and Ag = Moz | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Classification | Dec 2017 |
Dec 2016 |
Dec 2015 |
Dec 2017 |
Dec 2016 |
Dec 2015 |
Dec 2017 |
Dec 2016 |
Dec 2015 |
||||||||
| Indicated - gold | 21.0 | 12.1 | 6.8 | 5.2 | 5.1 | 4.5 | 3.491 | 1.963 | 0.977 | ||||||||
| Inferred - gold | 2.3 | 13.5 | 20.0 | 2.3 | 4.2 | 3.7 | 0.172 | 1.831 | 2.370 | ||||||||
| Total - gold | 23.3 | 25.6 | 26.8 | 4.9 | 4.6 | 3.9 | 3.663 | 3.794 | 3.347 | ||||||||
| Indicated - silver | 21.0 | 12.1 | 6.8 | 72.1 | 69.6 | 82.7 | 48.573 | 27.075 | 18.133 | ||||||||
| Inferred - silver | 2.3 | 13.5 | 20.0 | 11.7 | 38.4 | 37.4 | 0.885 | 16.670 | 24.001 | ||||||||
| Total - silver | 23.3 | 25.6 | 26.8 | 66.0 | 53.1 | 48.9 | 49.458 | 43.755 | 42.134 | ||||||||
Notes:
| – | Mineral Resources are reported in accordance with SAMREC |
| – | Confidence classification assumes annual production-scale and open pit mining |
| – | These Mineral Resources are classified as Indicated and Inferred. The Competent Person has reasonable confidence in the Resources, but future drilling may materially change the Resource evaluation. |
| – | Attributable metal to Gold Fields is 100% |
| – | Commodity prices used in this study are US$1,400/oz gold and US$20/oz silver |
| – | Mineral Resources are constrained within a Whittle optimised pit shell taking into consideration mining, processing, administration costs, process recovery and sustaining capital |
| – | Mineral Resources are reported for material within a pit shell having positive value after process recoveries and costs for processing, refining, royalty and overhead have been applied. A variable cut-off is applied since the process costs and recoveries are dependent on the head grade. This resulted in an average economic cut-off of US$45.88/tonne - processed based on 1% royalty, average process recovery of 92% for gold 70% silver and refining costs of US$2.78/oz for gold and US$1.21/oz for silver |
| – | Mineral Resources are reported without mining dilution and ore loss. Mining dilution and loss were accounted for in-pit shell generation |
| – | Figures are rounded to reflect confidence. Some grades may not average exactly due to rounding. The Competent Person deems these small discrepancies to be immaterial |
Factors affecting Mineral reconciliation year-on-year
| Brecha Principal was stable year-on-year |
| Agua Amarga reported reduced tonnes due to revised pit slope angles and modelling changes informed by additional drilling, geological interpretation and resource model estimation |
| Significant improvement in Resource model confidence (SAMREC) from 52% Indicated to 95% Indicated on metal supported by an additional ~35km of drilling |
Mineral Resource reconciliation (Gold – koz)
Drill holes completed to date showing collar and trace
Plan view, Salares Norte Project – Mineral Resource areas
