The 2016 resource estimate, while considered historic, was made pursuant to the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”). The resource estimate for the Yandera Copper Project, with an effective date of December 1, 2016, demonstrated significant resource growth and improved the understanding of the mineral potential at and along strike from the resource and in order to maximize project value through rigorous evaluation of development options.
Highlights of the Yandera Resource Estimate:
- Measured and Indicated Resources total 728 million tonnes grading 0.33% copper, 0.01% molybdenum and 0.10 ppm gold; or 0.39% copper equivalent (full breakdown by category is shown below);
- Inferred Resources total 230 million tonnes grading 0.29% copper, 0.00% molybdenum and 0.04 ppm gold; or 0.32% copper equivalent.
* The PFS was prepared prior to the Company acquiring an interest in the Yandera Copper Project, and is derived from historical estimates which the Company is not treating as current. This information is intended to provide readers with context on historical analysis conducted on the Yandera Copper Project, however the Company cautions that a qualified person has not done sufficient work to classify any historical estimates in respect of the Yandera Copper Project as current and any analysis conducted by previous owners of the Yandera Copper Project, may rely upon assumptions which are no longer reasonable or accurate in the context of the current market.
