Reserves and Resources

El Compas Mineral Resource Estimates at December 31, 2016

Resources (at December 31, 2016)

  • 496,000 ounces of indicated silver
  • 530,000 ounces of inferred silver 
  • 34,900 ounces of indicated gold 
  • 37,500 ounces of inferred gold
Silver-Gold Resources
  Tonnes
(000s)
Ag
g/t
Au
g/t
Ag Eq
g/t
Ag oz
(000s)
Au oz
(000s)
Ag Eq oz
(000s)
Indicated 148 104 7.31 652 496 34.9 3,112
Inferred 217 76 5.38 480 530 37.5 3,342
  1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any or all part of the mineral resources will be converted into mineral reserves.
  2. Mineral resource cut-off grades are based on a 150g/t silver equivalent
  3. Silver equivalent grades are based on a 75:1 silver:gold ratio.
  4. Price assumptions are $18/oz for silver and $1,225/oz for gold.
  5. Figures in the tables are rounded to reflect estimate precision; small differences generated by rounding are not material to the estimates.

The mineral resource estimates for El Compas were undertaken by Independent Qualified Persons Eugene Puritch, P.Eng., and Richard Routledge, P.Geo., of P&E Mining Consultants Inc. Mr. Puritch has reviewed and approved the technical content of this information with respect to El Compas.

These mineral reserve and mineral resource estimates were classified following the definitions and guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum CIM standards and definitions of mineral resource estimates and mineral reserve estimates as referenced in National Instrument 43-101.

A technical report for El Compas will be completed and filed on SEDAR in May 2017.