Mineral Resource Estimate Details
White Gold Project, Yukon Territory, Mineral Resource Statement, ACS April 15, 2023.
Area | Type | Classification | Cut-off (g/t) | Tonnes (000's) | Grade (g/t) | Contained Gold (oz) |
---|---|---|---|---|---|---|
Golden Saddle | Open Pit | Indicated | 0.4 | 15,241 | 2.25 | 1,103,900 |
Inferred | 3,569 | 1.39 | 159,700 | |||
Underground | Indicated | 2.5 | 224 | 3.86 | 27,800 | |
Inferred | 535 | 3.68 | 63,200 | |||
Arc | Open Pit | Indicated | 0.4 | 642 | 1.03 | 21,200 |
Inferred | 5,426 | 1.15 | 201,000 | |||
Underground | Inferred | 2.5 | 36 | 3.23 | 3,700 | |
Ryan | Open Pit | Inferred | 0.4 | 3,373 | 1.89 | 205,300 |
Underground | Inferred | 2.5 | 214 | 3.25 | 22,400 | |
QV | Open Pit | Inferred | 0.4 | 5,836 | 1.53 | 287,100 |
All Deposits | Open Pit | Indicated | 0.4 | 15,883 | 2.20 | 1,125,100 |
All Deposits | Open Pit | Inferred | 0.4 | 18,203 | 1.46 | 853,100 |
All Deposits | Underground | Indicated | 2.5 | 224 | 3.86 | 27,800 |
All Deposits | Underground | Inferred | 2.5 | 785 | 3.54 | 89,300 |
All Deposits | Total | Indicated | 16,107 | 2.23 | 1,152,900 | |
All Deposits | Total | Inferred | 18,989 | 1.54 | 942,400 |
- Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
- The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
- The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
- Open pittable resources are constrained by GEOVIA Whittle optimized pit shells using a 0.4 g/t Au cut-of grade and are considered to have reasonable prospects for eventual economic extraction, assuming a gold price of US$1,800 per ounce, a C$:US$ exchange rate of 0.75. an open pit mining cost of CDN$3.25 per tonne, a processing and G&A cost of CDN$27.50 per tonne milled, and gold recoveries of 92% for Golden Saddle, and VG, along with 85% for Arc and Ryan’s Surprise. Underground resources assume a mining cost of CDN$120/tonne.
- The following bulk density values for mineralized material were used: Golden Saddle (2.62 – 2.65 t/m3), Arc (2.55 t/m3), Ryan’s Surprise (2.63 t/m3) and VG (2.65 t/m3).
- High-grade gold assay values have been capped as follows: Golden Saddle and Arc (8 – 18 g/t Au), Ryan’s Surprise (9 g/t Au) and VG (3 – 10 g/t Au).
- The Statement of Estimates of Mineral Resources has been compiled by Mr. Gilles Arseneau, Ph.D.,P.Geo, of ARSENEAU Consulting Services (“ACS”). Mr. Arseneau has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that he has undertaken to qualify as a Qualified Person as defined in the CIM Standards of Disclosure.
- All numbers are rounded. Overall numbers may not be exact due to rounding.
- Updated MRE includes four gold deposits – Golden Saddle, Arc, Ryan’s Surprise and VG, within 12km of each other, and comprises:
- 16.11 million tonnes of Indicated Resources averaging 2.23 grams per tonne gold for 1.153 million ounces of gold, representing 55% of total resources.
- 18.99 million tonnes of Inferred Resources averaging 1.54 grams per tonne gold for 0.942 million ounces of gold, representing 45% of total resources.
- Updated MRE includes a maiden resource estimate for the Ryan’s Surprise deposit with an Inferred Resource of 227,700 ounces of gold averaging 1.97 grams per tonne gold.
- The Ryan’s Surprise deposit is located 1.5 km west of the Golden Saddle and Arc deposits, and along the Ryan’s Trend, a 6.5 km long gold-arsenic geochemical anomaly which hosts additional prospective gold targets.
- Inferred Mineral Resources have increased by 41% compared to previous MRE’s for the Golden Saddle and Arc deposits(1) in 2020 and the VG deposit(2) in 2021.
- 94% of the resources are near surface, with open-pittable Indicated Resources of 1.125 million ounces of gold averaging 2.20 grams per tonne gold and open-pittable Inferred Resources of 0.853 million ounces of gold averaging 1.46 grams per tonne gold.
- Mineralization at the Golden Saddle, Arc, Ryan’s Surprise and VG deposits all remain open along strike and down dip, with opportunities to further expand and upgrade resources in addition to multiple underexplored targets in close proximity to the deposits.