Resources & Reserves

BOMBORÉ PROJECT 2017 MINERAL RESOURCE STATEMENT

Roscoe Postle Associates Inc. provided an updated Mineral Resource estimate with an effective date of January 5, 2017 ("2017 Mineral Resources") by incorporating the oxide material within the previously excluded "Restricted Zones" and all drilling completed to that date on the high-grade P17S deposit.

The Mineral Reserves estimate for the 2019 Feasibility Study was prepared by AMC Consultants and is based on the 2017 Mineral Resources.

Bomboré Mineral Resource Estimate, as of January 5, 2017

Classification Measured Indicated Measured + Indicated Inferred
  Cut-off
Au g/t
Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Oxides 0.20 31,600 0.62 628 75,300 0.53 1,273 106,900 0.55 1,901 20, 900 0.40 265
Sulphides 0.2 / 0.38 9,000 0.90 260 113,600 0.79 2,894 122,600 0.80 3,154 32,400 0.81 842
TOTAL 40,600 0.68 888 188,900 0.69 4,167 229,400 0.69 5,055 53,300 0.65 1,107

Notes:

  1. CIM definitions (2014) were followed for Mineral Resources.
  2. Mineral Resource are inclusive of Mineral Reserves.
  3. Oxide resources are made up of the regolith, saprolite and upper transition layers reported at a cut-off of 0.2 g/t Au.
  4. Sulphide resources are made up of lower transition and fresh layers reported at a cut-off of 0.2 g/t Au and 0.38 g/t Au respectively.
  5. Mineral Resources have been constrained within a preliminary pit shell generated in Whittle software.
  6. Mineral Resources are estimated using a long-term gold price of US$1,400 per ounce.
  7. A minimum mining width of approximately 3 m was used.
  8. Bulk densities vary by material type.
  9. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  10. Numbers may not add due to rounding.

Bomboré Mineral Reserve Estimate, as of June 26, 2019

Classification Proven Probable Proven & Probable
  Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Tonnage
000 t
Grade
Au g/t
Contained
Au koz
Oxides 20,213 0.73 473 32,326 0.66 687 52,539 0.69 1,161
Sulphides 3,241 1.31 136 14,320 1.17 538 17,561 1.19 675
TOTAL 23,453 0.81 610 46,647 0.82 1,225 70,100 0.81 1,835

Notes:

  • Oxides include regolith, saprolite and upper transition material.
  • Sulphides include lower transition and fresh material.
  • Mineral Reserves have been estimated in accordance with the CIM Definition Standards.
  • Mineral Reserves are estimated at an average long-term gold price of US$1,250/troy oz.
  • Mineral Reserves are based on cut-off grades that range from 0.300 to 0.325 g/t Au for oxides, and 0.466 to 0.555 g/t Au for sulphides.
  • Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
  • There are 1.7Mt of low-grade mineralized oxide material above cut-off grade remaining in the stockpiles that are not included in the Reserves Estimate.
  • Mining recovery factors estimated at 98% for Oxides and 96%-100% for sulphides.
  • Processing recovery varies by grade, weathering unit and location.
  • Rounding of some figures may lead to minor discrepancies in totals.


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