Mineral Resources

Inferred Resource estimates by cut-off:

Cut-Off
Tonnes
Copper
Gold
Silver
Cu %
Au g/t
Millions
%
g/t
g/t
0.13
0.07
416
0.36
0.33
9.2
0.23
0.15
376
0.38
0.36
9.9
0.27
0.24
237
0.47
0.49
12.1
0.39
0.35
155
0.58
0.62
14.2
0.44
0.44
113
0.65
0.72
15.6
0.43
0.55
82
0.74
0.82
17.0
0.48
0.64
64
0.85
0.90
110.3

Examples of Contained Metals:

Tonnes
Copper lbs
Gold ozs
Silver ozs
Eq. Lbs Copper
237
2.45
3.73
92
4.04
Million
Billion
Million
Million
Billion grading
       

0.77% Copper*

416
3.3
4.4
123
5.71
Million
Billion
Million
Million
Billion grading
       

0.62% Copper*

* based on US$1.50/lb copper, US$600/oz gold and US$8/oz silver.

Notes:

 
  1. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by the inability to obtain required environmental and other regulatory approval, environmental or operating permits. The estimate may also be materially affected by global economic conditions such as the price of gold and silver, the price of oil and other commodities utilized in the production of gold and silver. Unknown geologic or hydrologic conditions or other unknown factors may materially affect the resource estimates.

  2. The quantity and grade of reported Inferred Resources in this estimation are conceptual in nature. There has been insufficient exploration to define these Inferred Resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

  3. Metallurgical recoveries and net smelter returns have not yet been determined. There has been no metallurgical work done at the Sinchao property to date.

  4. Victor Jaramillo, P. Geo., of Discover Geological Consultants Inc. is an Independent Qualified Person as defined by National Instrument 43-101 and is responsible for the resource estimates.

 
 
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