Reserves and Resources

Terronera Mineral Reserve and Resource Estimates at December 31, 2016

Reserves and Resources (at December 31, 2016)

  • 27.0 million ounces of probable silver
  • 254,600 ounces of probable gold
  • 9.7 million ounces of inferred silver
  • 56,000 ounces of inferred gold
 
Silver-Gold Reserves
  Tonnes
(000s)
Ag
g/t
Au
g/t
Ag Eq
g/t
Ag oz
(000s)
Au oz
(000s)
Ag Eq oz
(000s)
Probable 4,061 207 1.95 353 27,027 254.6 46,122
 
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)
Inferred 618 486 2.82 698 9,656 56.0 13,859
  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 resources are exclusive of and in addition to mineral reserves.
  3. Mineral resource and reserve cut-off grades are based on a 150g/t silver equivalent.
  4. Silver equivalent grades are based on a 75:1 silver:gold ratio.
  5. Price assumptions for are $18/oz for silver and $1,225/oz for gold.
  6. 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 Terronera 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 Terronera.

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 Terronera will be completed and filed on SEDAR in May 2017.