Resource Statement
As at 30 June 2009 the global Ore Reserves for the Laverton Gold Project (“LGP”) are estimated to be 4.4 mt @ 1.8 g/t Au for 250,000oz contained gold in 10 deposits. The global Mineral Resources for the LGP are estimated to be 22 mt @ 1.5 g/t Au for 1,000,000oz contained gold in 16 deposits. Resources are inclusive of the Ore Reserve (not additional to the Reserves). These Reserves and Resources have been classified according to the JORC Code (2004) as summarised in the Tables below.
Table: LGP Ore Reserves as at 30 June 2009
|
Deposit |
Proven |
Probable |
All |
||
|
|
Tonnes |
Au Grade |
Tonnes |
Au Grade |
Contained Au |
|
|
Kt |
g/t |
Kt |
g/t |
oz |
|
Admiral Hill |
- |
- |
1,300 |
1.8 |
76,000 |
|
Bells |
- |
- |
35 |
2.9 |
3,000 |
|
Castaway |
- |
- |
130 |
1.9 |
8,000 |
|
Euro |
- |
- |
530 |
1.8 |
31,000 |
|
Fish |
- |
- |
360 |
3.6 |
43,000 |
|
Grouse |
- |
- |
83 |
2.0 |
5,000 |
|
Lord Byron |
- |
- |
220 |
2.1 |
15,000 |
|
Mary Mac South |
- |
- |
110 |
1.9 |
7,000 |
|
Sickle |
155 |
2.15 |
- |
- |
11,000 |
|
West Laverton |
- |
- |
740 |
1.5 |
36,000 |
|
Sub-Total Deposits |
155 |
2.15 |
3,500 |
2.0 |
234,000 |
|
Stockpiles |
- |
- |
700 |
0.9 |
20,000 |
|
TOTAL |
155 |
2.15 |
4,200 |
1.8 |
254,000 |
Table: LGP Mineral Resources as at 30 June 2009
|
Deposit |
Measured |
Indicated |
Inferred |
All |
|||
|
|
Tonnes |
Au Grade |
Tonnes |
Au Grade |
Tonnes |
Au Grade |
Contained Au |
|
|
Kt |
g/t |
Kt |
g/t |
Kt |
g/t |
oz |
|
Admiral Hill |
- |
- |
4,800 |
1.2 |
970 |
1.3 |
220,000 |
|
Barnicoat |
- |
- |
340 |
1.3 |
250 |
1.0 |
22,000 |
|
Bells |
- |
- |
590 |
2.0 |
36 |
1.4 |
40,000 |
|
Black Label |
- |
- |
- |
- |
610 |
1.0 |
20,000 |
|
Burtville |
- |
- |
700 |
1.5 |
- |
- |
35,000 |
|
Castaway |
- |
- |
500 |
1.8 |
45 |
1.9 |
32,000 |
|
Craiggiemore |
88 |
1.70 |
1,400 |
1.6 |
110 |
1.4 |
82,000 |
|
Euro |
- |
- |
870 |
1.8 |
310 |
1.9 |
69,000 |
|
Fish |
- |
- |
450 |
4.0 |
130 |
3.7 |
73,000 |
|
Grouse |
- |
- |
520 |
1.7 |
27 |
1.3 |
30,000 |
|
Ida H |
- |
- |
- |
- |
630 |
1.4 |
28,000 |
|
Lily Pond Well |
- |
- |
- |
- |
340 |
1.4 |
15,000 |
|
Lord Byron |
- |
- |
3,200 |
1.0 |
2,000 |
0.9 |
160,000 |
|
Mary Mac South |
- |
- |
460 |
1.9 |
140 |
2.1 |
37,000 |
|
Sickle |
496 |
1.84 |
200 |
2.9 |
140 |
3.2 |
62,000 |
|
West Laverton |
- |
- |
1,400 |
2.0 |
510 |
1.7 |
113,000 |
|
TOTAL |
584 |
1.82 |
15,400 |
1.5 |
6,200 |
1.3 |
1,040,000 |
Additional notes for tables:
•Mineral Resources are inclusive of Ore Reserves.
•Figures have been rounded to 2 significant figures to reflect the accuracy of the estimates.
•Abbreviations: Kt = 1,000 tonnes, g/t = grams per tonne, Au = gold, oz = ounces (Troy).
•Contained gold for Mineral Resources is insitu.
•Contained gold for Ore Reserves is net of mine dilution and ore loss.
•Ore Reserve: A$1250/oz gold price; State Royalty 2.5%; Native Title Royalty 0.24%; pit designs and cut-off grades based on costs derived from current contracts for mining and hauling, and toll milling at Granny Smith.
•The resources at Barnicoat, Burtville, Craggiemore, Ida H, Sickle and West Laverton lie below existing open pits, while resources at Craggiemore and Ida H are transected by historic underground workings.
•In estimating the Ore Reserves for Admiral Hill ore value was factored down using geologically modelled soluble copper grades times cyanide consumption cost per unit copper.
