Eagle River Complex Mineral Reserves
|Mine||Category||Tonnes (‘000s)||Grade (gAu/tonne)||Contained Ounces|
|Proven + Probable||1,352||13.4||581,000|
|Proven + Probable||102||3.0||9,700|
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Eagle River Complex Mineral Resources
|Grade (gAu/tonne)||Contained Ounces|
|Measured + Indicated||343||9.2||102,000|
|Mishi Open Pit||Indicated||-||-||-|
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Eagle River Proven and Probable Reserve Breakdown by Zone1
The following table provides a breakdown of Mineral Reserves and Resources at Eagle River by structure to illustrate the growing significance of these recent developments.
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- Reported at 5.43 g/t Au cut off at the Eagle River Mine
- Numbers reflect rounding to nearest 1,000 tonnes and ounces.
- Mineral Resources are exclusive of reserves.
- Mineral Resources are not in the current mine plan and therefore do not have demonstrated economic viability.
- All Mineral Reserves and Mineral Resources estimates have been made in accordance with the Standards of the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) and NI 43-101 and assume a gold price of $2,047 (US$1,599) per ounce for the reserves and a gold price of $2,191 (US$1,712) per ounce for the resources, with a $1 USD → CAD exchange rate of $1.28).
- Mineral Resources are reported in-situ with no dilution provision.
- A density or tonnage factor of 2.7 tonnes per cubic m (t/m3) is applied at both Eagle River Mine and Mishi Mine.
- At Eagle River Mine, all high assays are cut to either 60.0 – 140.0 g/t Au for individual zones.
- All Mineral Reserves at Eagle River employ a 1.5 m minimum width, a 3.0 g/t Au minimum grade for continuity and include 1.0 m of external dilution and 10% lost ore and metallurgical recoveries of 97.0%.
- At Mishi the 7 lenses considered in the Mineral Resource calculations are cut between 6.0 to 45.0 g/t Au. All high blasthole assays are cut to 10 g/t Au.
- All In-Pit Mineral Reserves at Mishi employ a 1.0 g/t cut-off grade and a 3.0 m minimum width. Estimates provide for 10% dilution, 10% lost ore and metallurgical recoveries of 83%.
- Mishi Mineral Reserves currently have a life of mine stripping ratio of 13.0 tonnes of waste per tonne of ore.
- Mishi In-Pit Mineral Resources extend to a depth of 110.0 m, employing a 0.5 g/t cut-off grade, a 3.0 m minimum width and are reported in-situ with no dilution or lost ore provisions.
- Mishi Underground Mineral Resources are reported in-situ employing a 3.0 g/t cut-off grade and a 1.5 m minimum mining width.
- Qualified Persons for the Mineral Reserves and Mineral Resources estimates as per NI 43-101 include Marc-André Pelletier P. Eng, COO, and Michael Michaud, P.Geo., VP Exploration of Wesdome.
The technical content of this release has been compiled, reviewed and approved by Marc-André Pelletier, P. Eng, Chief Operating Officer, and Michael Michaud, P.Geo., Vice President, Exploration of the Company and each a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.
Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources
The mineral reserve and resource estimates reported in this news release were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by Canadian securities regulatory authorities. The United States Securities and Exchange.
Wesdome Gold Mines Ltd.
Summarized Operating and Financial Data
(Unaudited, expressed in thousands of Canadian dollars, except per share and per unit amounts and otherwise indicated)
Kiena Mine Reserves and Resources as at April 12, 2021
Kiena Complex Mineral Resource Estimate by Area (2.8 g/t Au cut-off)
|Tonnes||Diluted Gold Grade||Mined Gold Ounces|
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- CIM Definitions Standards on Mineral Resource and Reserves (2014) were followed.
- Underground Mineral Reserves are diluted tonnes and grades; the reference point is the mill feed at the primary crusher.
- Cut-off grade considers a gold price of C$1,914 per ounce (US$1,450 per ounce at 1.32 Exchange Rate USD to CAD) for mine design purposes, a 97% metallurgical processing recovery for both the S50 & Martin Zones and 98.5% for the Kiena Deep Zone, life of mine operating cost of C$122.92/t mining, C$28.25/t processing, C$36.53/t General and Administration. An incremental cut-off grade excluding the mine operating cost was not considered for lateral drift development required through mineralization and would present opportunity to increase the Mineral Reserve estimate.
- A minimum mining width of 3.0 m, and minimum footwall angle of 45° was used in the creation of all mineral reserve solids. Longitudinal long hole stoping is the predominant method considered for production mining. The life of mine mining recovery factor is 90% and combined planned and unplanned dilution factor is 27%.
- A bulk density of 2.8 t/m3 was used for both ore and waste rock.
- The application to expand the mining concession to include Martin Zone is being pursued by Wesdome. Martin Zone is scheduled to begin development and production mining in 2024 to provide time for the permitting process to be approved.
- Diluted ore tonnes and gold ounces were rounded to the nearest hundred. Numbers may not add due to rounding.
Kiena Mine Resources (Exclusive of Reserves)
|Tonnes||Gold Grade (g/t)||Gold Ounces||Tonnes||Gold Grade (g/t)||Gold Ounces|
- The independent qualified persons for the 2020 MRE, as defined by National Instrument (“NI”) 43â€'101 guidelines, are Pierre-Luc Richard, P. Geo., and Charlotte Athurion, P. Geo., both of BBA Inc.
- These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
- These mineral resources are exclusive of mineral reserves.
- The mineral resource estimate follows CIM definitions (2014) for mineral resources.
- Results are presented in situ and undiluted and considered to have reasonable prospects for economic extraction, below a 100 m crown pillar.
- The resources include 46 zones with a minimum true thickness of 3.0 m (2.4 m for Wesdome zones) using the grade of the adjacent material when assayed or a value of zero when not assayed. High-grade capping varies from 20 to 265 g/t Au (when required) and was applied to composited assay grades for interpolation using an Ordinary Kriging interpolation method (ID2 for Dubuisson zones 1220 and 1230) based on 1.0 m composite and block size of 5 m x 5 m x 5 m, with bulk density values of 2.8 (g/cm3). A three-step capping strategy was applied, where capping value decreased as interpolation search distance increased, in order to restrict high-grade impact at greater distance. Indicated resources are manually defined and encloses areas where drill spacing is generally less than 30 m, blocks are informed by a minimum of three drillholes, and reasonable geological and grade continuity is shown.
- The estimate is reported for potential underground scenario at cut-off grades of 2.8 g/t Au (>40 degree dip) and 3.6 g/t Au (<40 degree dip, Wesdome zones only). The cut-off grades were calculated using a gold price of US$1,450 per ounce, a USD:CAD exchange rate of 1.32 (resulting in C$1,914 per ounce gold price); mining cost C$100/t (>40 degree dip); C$150/t (<40 degree dip); processing cost C$40/t; G&A C$25/t.
- The number of metric tonnes and ounces were rounded to the nearest hundred and the metal contents are presented in troy ounces (tonne x grade/31.10348). Rounding may result in apparent summation differences between tonnes, grades and contained metals content.
The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issues not reported in this Technical Report that could materially affect the mineral resource estimate
Moss Lake Property Mineral Resources
|Mine||Category||Tonnes||Grade (gAu/tonne)||Gold Ounces|
|Moss Lake||M + I||39,795,000||1.1||1,377,000|
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- The Independent and Qualified Persons for the Mineral Resource Estimate, as defined by NI 43-101, are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the estimate is February 8, 2013.
- These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.
- In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts.
- In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade.
- Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500.
- A fixed density of 2.78 g/cm3 was used.
- A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed.
- Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit.
- Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m.
- The number of metric tons was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in Regulation 43-101.
- The pitshell used for the resource estimate extends slightly beyond the property limits in its northeastern portion. Although the entire resource lies within the property limits, some waste material outside the property limits will need to be removed to access some of the resource. Consequently, this portion of the pit may need to be re-considered in a future economic study.
- InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues or any other relevant issue that could materially affect the Mineral Resource Estimate.
The contents of this page have been verified and approved by Marc-Andre Pelletier, P. Eng, Chief Operating Officer, and Michael Michaud, P.Geo., Vice President, Exploration of the Company and each is a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects. Please refer to Company AIF available on the Company’s website and sedar.com