Table 1: AntaKori Mineral Resource Estimate at 0.3% CuEq Cut-off
Resource Category | Tonnes | Cu | Au | Ag | CuEq | Cu | Au | Ag | CuEq |
Indicated | 250 | 0.48 | 0.29 | 7.5 | 0.74 | 2.6 | 2.3 | 61 | 4.1 |
Inferred | 267 | 0.41 | 0.26 | 7.8 | 0.66 | 2.4 | 2.2 | 67 | 3.9 |
Resource estimate used metal prices: Au =US$1,400/oz, Cu = US$3/lb, Ag = US$18/oz AuEq and CuEq were calculated using the following metal prices: Au = US$1,400/oz, Cu = US$3/lb, Ag = US$18/oz Copper equivalent formula: CuEq = Cu + 0.6805561*Au + 0.008750*Ag (no use of Pb, Zn or Mo and recoveries were assumed to be 100%.) Average arsenic grade:Indicated Mineral Resource = 857 ppm As Inferred Mineral Resource = 518 ppm As 54% of total mineralization is skarn (240 ppm As) 39% of total mineralization is skarn (1,360 ppm As) | |||||||||
Resource Highlights:
• All Mineral Resources reported are within Regulus concessions with no reporting of mineralization from adjoining concessions
• 54% of Resource is in lower arsenic grade skarn mineralization
• Significant high-grade core (Resource holds up well to higher-grade cut-off)
• Recent high-grade intercepts not included in Resource estimates (AK-18-026: 473.2 m @ 1.39% CuEq)
• The amount of drilling data available has more than doubled from that available for the previous Resource estimate (Wilson, 2012) with Regulus completing more than 22,000 m of drilling in its initial Phase 1 (2017-18) drilling campaign
• Phase I Regulus drilling data (2017-2018) has allowed significant conversion of Inferred Mineral Resource to the Indicated Mineral Resource category as well as the definition of additional Inferred Mineral Resource
• A collaborative exploration agreement with the operator of the immediately adjoining Tantahuatay mine, allows for modelling of a large open pit with layback onto the adjoining property to more completely capture mineral resources
• Updated costs, NSR, and arsenic penalties considered in Resource calculation
• This is an interim Resource estimate, to provide an update on progress at the project, the Resource remains open to the north and east within Regulus claims with potential for significant expansion with additional drilling
• Phase II, 25,000 m drill program is underway and will be testing targets to the north where mineralization is of potentially lower arsenic grade
The following tables show the Mineral Resource estimate with sensivity to varying CuEq grade cut-offs:
Table 2 – AntaKori Indicated Mineral Resources | ||||||||||||
AntaKori Indicated Mineral Resource | Contained Metals | |||||||||||
CuEq |
|
|
|
|
|
|
|
|
|
|
|
|
Cut-off | Tonnes | CuEq | AuEq | Cu | Au | Ag | As | CuEq | AuEq | Cu | Au | Ag |
(%) | (millions) | (%) | (g/t) | (%) | (g/t) | (g/t) | (ppm) | (B lbs) | (M oz) | (B lbs) | (M oz) | (M oz) |
0.2 | 296 | 0.66 | 0.98 | 0.42 | 0.26 | 6.9 | 793 | 4.3 | 9.3 | 2.7 | 2.5 | 66 |
0.3 | 250 | 0.74 | 1.09 | 0.48 | 0.29 | 7.5 | 857 | 4.1 | 8.8 | 2.6 | 2.3 | 61 |
0.4 | 201 | 0.84 | 1.23 | 0.54 | 0.32 | 8.3 | 969 | 3.7 | 7.9 | 2.4 | 2.1 | 54 |
0.5 | 152 | 0.96 | 1.41 | 0.63 | 0.37 | 9.2 | 1137 | 3.2 | 6.9 | 2.1 | 1.8 | 45 |
0.6 | 118 | 1.08 | 1.59 | 0.71 | 0.42 | 10.1 | 1304 | 2.8 | 6.0 | 1.9 | 1.6 | 38 |
0.7 | 93 | 1.20 | 1.76 | 0.79 | 0.46 | 10.9 | 1480 | 2.5 | 5.3 | 1.6 | 1.4 | 33 |
0.8 | 73 | 1.32 | 1.94 | 0.87 | 0.51 | 11.7 | 1669 | 2.1 | 4.6 | 1.4 | 1.2 | 28 |
0.9 | 57 | 1.45 | 2.13 | 0.96 | 0.56 | 12.5 | 1874 | 1.8 | 3.9 | 1.2 | 1.0 | 23 |
1 | 45 | 1.59 | 2.33 | 1.05 | 0.62 | 13.2 | 2086 | 1.6 | 3.4 | 1.0 | 0.9 | 19 |
Table 3 – AntaKori Inferred Mineral Resources | ||||||||||||
AntaKori Inferred Mineral Resource | Contained Metals | |||||||||||
CuEq |
|
|
|
|
|
|
|
|
|
|
|
|
Cut-off | Tonnes | CuEq | AuEq | Cu | Au | Ag | As | CuEq | AuEq | Cu | Au | Ag |
(%) | (millions) | (%) | (g/t) | (%) | (g/t) | (g/t) | (ppm) | (B lbs) | (M oz) | (B lbs) | (M oz) | (M oz) |
0.2 | 320 | 0.59 | 0.86 | 0.36 | 0.24 | 7.2 | 484 | 4.2 | 8.9 | 2.6 | 2.5 | 74 |
0.3 | 267 | 0.66 | 0.96 | 0.41 | 0.26 | 7.8 | 518 | 3.9 | 8.2 | 2.4 | 2.2 | 67 |
0.4 | 199 | 0.76 | 1.12 | 0.48 | 0.30 | 8.7 | 597 | 3.3 | 7.2 | 2.1 | 1.9 | 56 |
0.5 | 146 | 0.87 | 1.28 | 0.56 | 0.34 | 9.6 | 702 | 2.8 | 6.0 | 1.8 | 1.6 | 45 |
0.6 | 112 | 0.98 | 1.43 | 0.63 | 0.38 | 10.3 | 808 | 2.4 | 5.1 | 1.6 | 1.4 | 37 |
0.7 | 89 | 1.06 | 1.56 | 0.69 | 0.41 | 10.8 | 910 | 2.1 | 4.4 | 1.3 | 1.2 | 31 |
0.8 | 69 | 1.15 | 1.69 | 0.75 | 0.45 | 11.4 | 1005 | 1.8 | 3.8 | 1.1 | 1.0 | 25 |
0.9 | 53 | 1.24 | 1.82 | 0.80 | 0.48 | 12.0 | 1096 | 1.5 | 3.1 | 0.9 | 0.8 | 21 |
1 | 40 | 1.34 | 1.96 | 0.87 | 0.53 | 12.5 | 1169 | 1.2 | 2.5 | 0.8 | 0.7 | 16 |
To see more information view the 2019 AntaKori Technical Report here or the news release below:
March 1, 2019: Regulus Reports Substantial Increase in Resource Estimate at AntaKori Copper-Gold Project, Peru