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Operations
Operations

Reserves and Resources

San Dimas Mine as at Dec. 31, 2012
classification tonnage gold grade silver grade Contained gold contained silver
  (million tonnes) (g/t) (g/t) (000 ounces) (000  ounces)
mineral reserves          
       probable 4.579 4.5 267 660 39,377
mineral resources          
       indicated 3.748 6.5 389 780 46,877
       inferred 6.144 3.9 327 762 64,637

Notes to Mineral Reserve Statement:

  1. Cutoff grade of 2.4 grams per tonne (”g/t”) gold equivalent (“AuEq”) based on total operating cost of US$104.73/t. Metal prices assumed are gold US$1,440 per troy ounce and silver US$25 per troy ounce. Silver supply contract obligations have been referenced in determining overall vein reserve estimate viability.
  2. Processing recovery factors for gold and silver of 97% and 94% assumed.
  3. Exchange rate assumed is 13 pesos/US$1.00.
  4. The Mineral Reserve estimates were prepared by Mr. Herbert A. Smith P.Eng. of AMC Mining Consultants (Canada) Ltd. and a QP for the purposes of National Instrument 43-101 (“NI 43-101”).

Notes to Mineral Resource Statement:

  1. Mineral Resources are total and include those resources converted to Mineral Reserves.
  2. A 2.0g/t AuEq cutoff grade is applied and the AuEq is calculated at a gold price of US$1,625 per troy ounce and a silver price of US$25 per troy ounce.
  3. A constant bulk density of 2.7 tonnes/m3 has been used.
  4. The Mineral Resource estimates were prepared by Mr. Rodney Webster MAusIMM, MAIG and Mr. J. Morton Shannon P.Geo., both of AMC Mining Consultants (Canada) Ltd. and a QP for the purposes of NI 43-101.
Click to open pdf of Reserve and Resource Summary.
Click to open San Dimas 43-101 Technical Report on 2011 Reserves & Resources.