Resources

Overview | Technical Reports | Resources | Geology | Exploration History

MINERAL RESOURCES

Class TonsI

(millions)

Au

(opt)

Au

(ozs)

Ag

(opt)

Ag

(ozs)

Measured 17.93 0.020    363,000 0.079 1,409,000
Indicated 12.88 0.054    695,000 0.146 1,882,000
Measured + Indicated* 30.82 0.034 1,057,000 0.107 3,291,000
Inferred 1.06 0.040      42,000 0.119    125,000

I in imperial tons
*Grassy Mountain mineral resources are inclusive of the mineral reserves.

 


MINERAL RESSOURCES

Class TonnesII

(millions)

Au

(g/T)

Au

(ozs)

Ag

(g/T)

Ag

(ozs)

Measured 16.27 0.69     363,000 2.71 1,409,000
Indicated 11.69 1.85     695,000 5.01 1,882,000
Measured + Indicated* 27.96 1.17 1,057,000 3.67 3,291,000
Inferred 0.96 1.37       42,000 4.08     125,000

IIin metric tonnes
*Grassy Mountain mineral resources are inclusive of the mineral reserves.


MINERAL RESERVES

Class Tonsa

(millions)

Au

(opt)

Au

(ozs)

Ag

(opt)

Ag

(ozs)

Proven 0.23 0.191   43,000 0.27   62,000
Probable 1.49 0.214 319,000 0.30 454,000
Proven & Probable 1.72 0.210 362,000 0.30 516,000

a in imperial tons 


MINERAL RESERVES

Class Tonnesb

(millions)

Au

(g/T)

Au

(ozs)

Ag

(g/T)

Ag

(ozs)

Proven 0.21 6.55   43,000 9.26   62,000
Probable 1.35 7.34 319,000 10.29 454,000
Proven & Probable 1.56 7.23 362,000 10.29 516,000

bin metric tonnes

Source: Grassy Mountain PFS (see press release dated May 24, 2018)

Cautionary Note to U.S. Investors Concerning Estimates of Indicated, Inferred Resources and Reserves
This news release uses the terms “measured and indicated resources”, “inferred resources” and “proven and probable reserves”. We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and not normally permitted to be used in reports and registration statements filed with the SEC.  “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases.  The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves”, as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.