Santander Mineral Reserves as at December 31, 2019(1, 2)
|
|
Grade |
Metal |
Category |
Quantity Mt |
Zn % |
Pb % |
Ag g/t |
Zn M lbs |
Pb M lbs |
Ag K oz |
Santander Mine (3) |
|
|
|
|
|
|
|
Proven |
1.34 |
4.91 |
0.46 |
26.95 |
145 |
14 |
1,163 |
Probable |
0.51 |
4.74 |
0.22 |
19.62 |
54 |
2 |
324 |
Proven & Probable |
1.86 |
4.86 |
0.39 |
24.92 |
199 |
16 |
1,487 |
(1) All Mineral Reserves have been estimated in accordance with the CIM Definition Standards. Numbers may not add due to rounding.
(2) The technical report entitled “Mineral Reserve Estimation Technical Report for the Santander Zinc Mine, Province de Huaral, Perú” dated March 31, 2017, is the current technical report for the Santander property.
(3) The Santander Magistral Underground Mine Mineral Reserve estimate is reported based on optimized stopes designed on an incremental net smelter return cut-off grade of US$50/tonne with metal prices of: US$1.14/lb zinc, US$0.93/lb lead, US$18.32/oz silver.
(4) The Santander Magistral Mineral Reserve estimate has been prepared by Trevali’s Technical group and non-independent Mine engineering consultants to the company with an effective date of December 31, 2019, under the supervision of and approved by Professional Engineer Nick Espenberg (P.Eng.), a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Espenberg is Group Lead Business Planning of the Company and accordingly, is not independent.
Santander Mine Mineral Resource as at December 31, 2019(1, 2)
|
|
Grade |
Metal |
Category |
Quantity Mt |
Zn % |
Pb % |
Ag g/t |
Zn M lbs |
Pb M lbs |
Ag K oz |
Santander Mine(3) |
|
|
|
|
|
|
|
Measured |
2.34 |
4.98 |
0.68 |
34.63 |
257 |
35 |
2,609 |
Indicated |
1.24 |
4.72 |
0.32 |
20.53 |
129 |
9 |
816 |
Measured & Indicated |
3.58 |
4.89 |
0.55 |
29.76 |
386 |
43 |
3,425 |
Inferred |
1.07 |
3.93 |
0.24 |
24.97 |
93 |
6 |
861 |
Santander Pipe Project(4) |
|
|
|
|
|
|
|
Measured |
0.54 |
8.09 |
0.03 |
16.31 |
96 |
0 |
283 |
Indicated |
3.23 |
6.43 |
0.01 |
11.37 |
458 |
1 |
1,182 |
Measured & Indicated |
3.77 |
6.67 |
0.01 |
12.08 |
555 |
1 |
1,465 |
Inferred |
1.31 |
5.37 |
0.02 |
7.42 |
156 |
1 |
313 |
(1) All Mineral Resources have been estimated in accordance with the CIM Definition Standards. Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Numbers may not add up due to rounding.
(2) The technical report entitled “Mineral Reserve Estimation Technical Report for the Santander Zinc Mine, Province de Huaral, Perú” dated March 31, 2017, is the current technical report for the Santander property.
(3) The Santander Magistral Underground Mine Mineral Resource estimate is reported based on net smelter return cut-off grade of US$40/tonne with metal prices of: US$1.14/lb zinc, US$0.93/lb lead, US$18.32/oz silver. The Santander Magistral Underground Mine Mineral Resource estimate has been prepared by the mine geology department and non-independent Resource geology consultants to the company with an effective date of December 31, 2019, under the supervision of and approved by Yan Bourassa (P.Geo.), a Qualified Person as defined in NI 43-101. Mr Bourassa is Vice President, Exploration & Mineral Resources of the Company and accordingly, is not independent.
(4) The Santander Pipe Underground Deposit Mineral Resource estimate is reported based on net smelter return cut-off grade of US$40/tonne with metal prices of: US$1.14/lb zinc, US$0.93/lb lead, US$18.32/oz silver. The Santander Pipe Underground Deposit Mineral Resource estimate has been prepared by the exploration geology department and non-independent Resource geology consultants to the company with an effective date of December 31, 2019, under the supervision of and approved by Yan Bourassa (P.Geo.), a Qualified Person as defined in NI 43-101. Mr. Bourassa is Vice President, Exploration & Mineral Resources of the Company and accordingly, is not independent.