Mineral Resources and Reserves
QUINCHIA GOLD PROJECT - SUMMARY MINERAL RESOURCE ESTIMATE (MRE)
| Quinchia subzone |
Resource Category |
CUT-OFF |
TONNES (Mt) |
Au (g/t) |
Au (koz) |
| Tesorito |
Inferred |
0.5g/t Au |
50.0 |
0,81 |
1,298 |
| Dosquebradas |
Inferred |
0.5g/t Au |
20.2 |
0.71 |
459 |
| Miraflores - U.Ground |
Measured + Indicated |
1.2g/t Au |
9.3 |
2.82 |
840 |
| Miraflores - U.Ground |
Inferred |
1.2g/t Au |
0.5 |
2.36 |
37 |
| QUINCHIA RESOURCE |
|
|
80.0 |
1.02 |
2,634 |
Note: Miraflores Resources includes Miraflores Reserve
DETAILS OF QUINCHIA SUBZONES
Tesorito Inferred MRE at various gold grade cut-offs (21 March 2022)
| CUT-OFF |
TONNES (Mt) |
Au (g/t) |
Ag (g/t) |
Au (koz) |
Ag (koz) |
| 0.25g/t Au |
134.3 |
0.53 |
0.62 |
2,290 |
2,673 |
| 0.5g/t Au |
50.0 |
0.81 |
0.75 |
1,298 |
1,205 |
| 0.6g/t Au |
33.4 |
0.94 |
0.82 |
1,006 |
880 |
The information presented here that relates to Mineral Resources of the Tesorito Project, Quinchia District, Republic of Colombia is based on and fairly represents information and supporting documentation compiled by Mr. Michael Andrew of Snowden Optiro. First published 21 March 2022. No material change has occurred after that date that may affect the JORC Code (2012 Edition) Mineral Reserve estimation.
Note: Applying an optimised pit shell with 0.25g/t Au cut-off using an input gold price of US$1,800/oz. Strip ratio of optimised pit shell is (waste:ore) 0.75.
Dosquebradas Inferred MRE at various gold grade cut-offs (25 February 2020)
| CUT-OFF |
TONNES (Mt) |
Au (g/t) |
Ag (g/t) |
Au (koz) |
Ag (koz) |
| 0.3g/t Au |
57.8 |
0.5 |
0.6 |
921 |
1,036 |
| 0.4g/t Au |
34.6 |
0.6 |
0.6 |
664 |
684 |
| 0.5g/t Au |
20.2 |
0.71 |
0.7 |
459 |
432 |
The information presented here that relates to Mineral Resources of the Dosquebradas Project, Quinchia District, Republic of Colombia is based on and fairly represents information and supporting documentation compiled by Mr. Scott E. Wilson of Resource Development Associates Inc, of Highlands Ranch Colorado, USA. Mineral Resource estimated by Resource Development Associates Inc. First published 25 February 2020. No material change has occurred after that date that may affect the JORC Code (2012 Edition) Mineral Reserve estimation
Note: No more than 6m internal waste is included in the weighted intervals. Based on gold selling price of US$1,470/oz
Miraflores MRE at 1.2g/t Au cut-off (14 March 2017)
| CATEGORY |
TONNES (Mt) |
Au (g/t) |
Ag (g/t) |
Au (koz) |
Ag (koz) |
| Measured |
3.0 |
2.98 |
2.49 |
283 |
237 |
| Indicated |
6.3 |
2.74 |
2.9 |
557 |
588 |
| Measured & Indicated |
9.3 |
2.82 |
2.77 |
840 |
826 |
| Inferred |
0.5 |
2.36 |
3.64 |
37 |
57 |
The Miraflores Project Mineral Resource estimate has been estimated by Metal Mining Consultants in accordance with the JORC Code (2012 Edition) and first publicly reported on 14 March 2017. No material changes have occurred after the reporting of these resource estimates since their first reporting.
Note: These Mineral Resources are inclusive of the Ore Reserves listed in the following table, below. Rounding may result in minor discrepancies. Based on gold selling price of US$1,470/oz
Miraflores Reserve (27 November 2017)
| CATEGORY |
TONNES (Mt) |
Au (g/t) |
Ag (g/t) |
Au (koz) |
Ag (koz) |
| Proved |
1.7 |
2.75 |
2.2 |
150 |
120 |
| Probable |
2.6 |
3.64 |
3.13 |
307 |
264 |
| Total |
4.3 |
3.29 |
2.77 |
457 |
385 |
The Miraflores Project Ore Reserve estimate has been estimated by Ausenco in accordance with the JORC Code (2012 Edition) and first publicly reported on 18 October 2017 and updated on 27 November 2017. No material change has occurred after 27 November 2017 that may affect the JORC Code (2012 Edition) Ore Reserve estimation.
Note: Rounding-off of numbers may result in minor computational errors, which are not deemed to be significant. These Ore Reserves are included in the Mineral Resources listed in table above. . Based on gold selling price of US$1,300/oz.
COMPETENT PERSONS STATEMENT
LCL - Exploration Results
The technical information related to Colombian LCL assets contained in this report that relates to Exploration Results (excluding those pertaining to Mineral Resources and Reserves) is based on information compiled by Mr Cesar Garcia, who is a Member of the Australasian Institute of Mining and Metallurgy and who is a Geologist employed by LCL on a full-time basis. Mr Garcia has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Garcia consents to the inclusion in the release of the matters based on the information he has compiled in the form and context in which it appears.
The technical information related to LCL’s Papua New Guinea assets contained in this report that relates to Exploration Results is based on information compiled by Mr John Dobe, who is a Member of the Australasian Institute of Mining and Metallurgy and who is a Geologist employed by Los Cerros on a full-time basis. Mr Dobe has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Dobe consents to the inclusion in the release of the matters based on the information he has compiled in the form and context in which it appears.
