Table 1. Constrained Resource Evaluation Statement – Nussir Deposit
Effective Date: 20th January, 2025
| Region | Measured Resources | Indicated Resources | Measured + Indicated Resources | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tonnes Mt | Cu % | Ag g/t | Au g/t | Cu Eq % | Tonnes Mt | Cu % | Ag g/t | Au g/t | Cu Eq % | Tonnes Mt | Cu % | Ag g/t | Au g/t | Cu Eq % | |
| West | 5.52 | 1.03 | 19.6 | 0.10 | 1.25 | 5.52 | 1.03 | 19.6 | 0.10 | 1.25 | |||||
| Central | 0.59 | 1.44 | 15.6 | 0.10 | 1.64 | 12.84 | 1.03 | 9.4 | 0.10 | 1.18 | 13.43 | 1.05 | 9.7 | 0.10 | 1.20 |
| East | 2.10 | 0.98 | 12.0 | 0.20 | 1.22 | 7.68 | 0.97 | 11.9 | 0.13 | 1.16 | 9.77 | 0.97 | 11.9 | 0.15 | 1.17 |
| TOTAL | 2.69 | 1.08 | 12.8 | 0.18 | 1.31 | 26.03 | 1.01 | 12.3 | 0.11 | 1.19 | 28.72 | 1.02 | 12.3 | 0.12 | 1.20 |
| Region | Inferred Resources | ||||
|---|---|---|---|---|---|
| Tonnes Mt | Cu % | Ag g/t | Au g/t | Cu Eq % | |
| West | 22.45 | 1.07 | 17.4 | 0.13 | 1.31 |
| Central | 7.95 | 0.93 | 8.1 | 0.14 | 1.10 |
| East | 1.59 | 0.60 | 6.5 | 0.17 | 0.78 |
| TOTAL | 31.99 | 1.01 | 14.6 | 0.14 | 1.23 |
Table 2. Nussir Resource Estimation Summary
Effective Date: 20th January, 2025
| Category | Tonnes Mt | Cu % | Ag g/t | Au g/t | Cu Eq % | Cu Metal Kt | Ag Metal Koz | Au Metal Koz |
|---|---|---|---|---|---|---|---|---|
| Measured | 2.69 | 1.08 | 12.8 | 0.18 | 1.31 | 29 | 1,103 | 16 |
| Indicated | 26.03 | 1.01 | 12.3 | 0.11 | 1.19 | 263 | 10,288 | 92 |
| Meas+Ind | 28.72 | 1.02 | 12.3 | 0.12 | 1.20 | 292 | 11.391 | 108 |
| Inferred | 31.99 | 1.01 | 14.6 | 0.14 | 1.23 | 324 | 14,972 | 143 |
Notes
- CIM definitions were followed for MRE.
- A minimum mining width of 2.0 m was applied in making the MRE constraint wireframes. These wireframes were generated using a preliminary MSO.
- Density values for Nussir were estimated from density sample values or assigned default average values where insufficient samples occur nearby.
- MRE constraint wireframes were generated for a cut-off grade of 0.30% Cu, related to potential underground mining.
- Metal prices assumed for this MRE were US$4.20/lb Cu, US$27.00/Oz Ag and US$2,200/oz Au, which represent reasonable long-term consensus metal pricing.
- Metallurgy recovery assumptions were 98% Cu, 80% Ag and 93% Au, which stem from SOS metallurgical testwork completed in 2022.
- CuEq = Cu_Grade + (Ag_Coeff*Ag_Grade) + (Au_Coeff*Au_Grade)
- The cut-off grade of 0.30% Cu was derived from the price and recovery values above, as well as a smelter payability of 37.3% and an assumed total operating cost of $26.20/tonne of ore.
- Rounding may result in apparent summation differences between tonnes, grades and metal content; not considered material.
- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.