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PHILEX MINING CORPORATION
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|
Padcal Mine
|
Mineral Resources
|
| |
CuEq*
|
Classification |
Tonnes (000)
|
CU
|
Au
|
Contained Cu
|
Contained Au
|
|
Cutoff
|
%
|
Grams/Tonne
|
(000 lbs.)
|
(ounces)
|
|
Sto. Tomas II Deposit
|
|
|
|
|
|
|
|
|
908 ML
|
0.33%
|
Measured |
58,000 |
0.24 |
0.53 |
307,000 |
1,000,000 |
|
782 ML
|
0.33%
|
Measured |
98,000 |
0.23 |
0.49 |
500,000 |
1,500,000 |
| Total Resources(1) |
|
Measured |
156,000 |
0.24 |
0.50 |
807,000 |
2,500,000 |
| * CuEq = %Cu + 0.55 x g/t Au; Metal Prices: US$ 2.00/lb Cu, US$ 800/oz; Metal Recoveries: 82% Cu, 77% Au. |
This resource statement was prepared by Mr. Noel C. Oliveros, Exploration Group Manager of Philex Mining Corporation, who has sufficient experience relevant to the style of mineralization of Sto. Tomas Porphyry Copper Deposit. Mr. Oliveros is a Competent Person for Exploration and Mineral Resource Estimation under the definition of the Philippine Mineral Reporting Code (PMRC). He is a professional Geologist with PRC License No. 1285 and accreditation number Geology CP-07-08-07. He has given his consent to the Public Reporting of this statement concerning Mineral Resource Estimation. |
| (1) Includes proved reserves. |
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Ore Reserves
|
| |
CuEq*
|
Classification |
Tonnes
(000)
|
Cu
|
Au
|
Recoverable
|
Recoverable
|
| Cutoff |
%
|
Grams / Tonne
|
Cu (000 lbs.)
|
Au (ounces)
|
| Sto. Tomas II Deposit |
|
|
|
|
|
|
|
|
908 ML
|
0.37%
|
Proved |
28,000 |
0.21 |
0.42 |
100,000 |
282,000 |
|
782 ML
|
0.37%
|
Proved |
41,200 |
0.23 |
0.46 |
174,000 |
462,000 |
| Total Reserves |
|
Proved |
69,200 |
0.22 |
0.44 |
274,000 |
744,000 |
| * CuEq = %Cu + 0.54 x g/t Au; Metal Prices: US$ 2.00/lb Cu, US$ 800/oz; Metal Recoveries: 82% Cu, 75% Au. |
This statement was prepared by Engr. Eulalio B. Austin, Jr. (BSEM), Vice President and Resident Manager, Philex Mining Corporation, Padcal Operations. Engr. Austin is a Competent Person under the definition of the Philippine Mineral Reporting Code and has sufficient experience as to the type of deposit and style of mining in the Padcal Mine. He is a licensed mining engieneer with PRC registration number 0001814. He has given his consent to the Public Reporting of this statement concerning Mineral Reserve Estimation. |
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| SILANGAN MINDANAO MINING CO., INC. |
| Mineral Resources |
| |
Cutoff
% Cu |
Classification |
Tonnes
(000) |
Cu
% |
Au
Grams / Tonne |
Contained Cu
(000 lbs) |
Contained Au
(ounces) |
| Boyongan |
0.50 |
Measured + Indicated |
105,400 |
0.80 |
0.98 |
1,800,000 |
3,300,000 |
| Bayugo |
0.40 |
Indicated |
85,700 |
0.88 |
0.73 |
1,700,000 |
2,000,000 |
| Total |
|
Measured + Indicated |
191,000 |
0.84 |
0.87 |
3,500,000 |
5,300,000 |
| Bayugo |
0.40 |
Inferred |
32,700 |
0.75 |
0.63 |
500,000 |
600,000 |
| Mr. Noel C. Oliveros, Exploration Group Manager of Philex Mining Corporation, has given his consent to the release of this resource estimate, the contents of which he has reviewed and has found to be consistent with the resource estimates in the technical reports of the Boyongan and Bayugo deposits prepared by the Indenpendent Resource Estimates (IRES) of South Africa, and compliant with the rules and guidelines as set forth in National Instrument (NI) 43-101. He has sufficient experience in resource evaluation relevant to the style of mineralization in the Surigao mineral district. Mr. Oliveros is a Competent Person for Exploration and Mineral Resource Estimation under the definition of the Philippine Mineral Reporting Code (PMRC). He has given his consent to the Public Reporting of this estimate following the PMRC guidelines concerning Mineral Resource Estimation. |
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PHILEX GOLD PHILIPPINES, INC.
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|
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CuEq*
|
Classification |
Tonnes (000)
|
Au
|
Contained Au
|
| g/t |
Grams / Tonne
|
(ounces)
|
| Bulawan/Vista Allegre |
|
|
|
|
|
|
Bulawan Main
|
0.50 |
Measured + Indicated |
17,500
|
2.25
|
1,260,000
|
|
Korokan
|
0.35 |
Measured + Indicated |
3,200
|
0.74
|
80,000
|
|
Nagtalay
|
0.50 |
Measured + Indicated |
3,200
|
1.26
|
130,000
|
| Sub total |
|
Measured + Indicated |
23,900
|
1.91
|
1,470,000
|
| |
|
|
|
|
|
| Sibutad |
|
|
|
|
|
|
Larayan
|
0.50
|
Measured
|
2,000
|
1.03
|
70,000
|
|
Lalab
|
0.50 |
Measured + Indicated
|
15,100
|
0.81
|
390,000
|
| Sub total |
|
Measured + Indicated
|
|
|
460,000
|
| Total |
|
Measured + Indicated |
41,000 |
1.46 |
1,930,000 |
| Sibutad (Lalab) |
0.50
|
Inferred
|
1,800
|
3.73
|
220,000
|
| |
|
|
|
|
|
|
This resource statement was prepared by Mr. Noel C. Oliveros, Exploration Group Manager, Philex Mining Corporation, who has sufficient experience relevant to the style of mineralization of the Vista Alegre deposits in Negros, Sibutad deposits in Zamboanga del Norte. Mr. Oliveros is a Competent Person for Exploration and Mineral Resource Estimation under the definition of the Philippine Mineral Reporting Code (PMRC). He is a professional Geologist with PRC License No. 1285 and accreditation number Geology CP-07-08-07. He has given his consent to the Public Reporting of this statement concerning Mineral Resource Estimation.
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