Resources and Reserves
Mineral Resource Estimate
Region |
Classification |
Tonnage (Mt) |
Grade (g/t Au) |
Metal Content (Moz Au) |
Esperança South |
Indicated |
29.0 |
1.3 |
1.2 |
Inferred |
10.0 |
1.2 |
0.4 |
|
Esperança East |
Indicated |
5.0 |
0.8 |
0.1 |
Inferred |
12.8 |
0.7 |
0.3 |
|
Esperança Center |
Indicated |
19.1 |
0.7 |
0.4 |
Inferred |
3.3 |
0.9 |
0.1 |
|
Project Total |
Indicated |
53.1 |
1.0 |
1.8 |
Inferred |
26.0 |
0.9 |
0.7 |
Mineral resource estimate for the Castelo de Sonhos gold project (with an effective date of October 4, 2021) above a reporting cutoff grade of 0.26 g/t Au. The Qualified Person is Leonardo de Moraes Soares MAIG of GE21.
Project totals may appear not to sum correctly since all numbers have been rounded to reflect the precision of Inferred and Indicated mineral resource estimates.
The reporting cutoff corresponds to the marginal cutoff grade for an open pit with processing + G&A cost of $US 12/t, metallurgical recovery of 98% and a gold price of $US 1,550/oz. To meet the requirement of "reasonable prospect for eventual economic extraction" the mineral resources must also fall within a bounding pit shell with 55° walls. These are mineral resources and not reserves and as such do not have demonstrated economic viability.
The metal content estimates reflect gold in situ, and do not include factors such as external dilution, mining losses and process recovery losses.
TriStar is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing or political factors that might materially affect these mineral resource estimates.
Mineral Reserve Estimate
The Mineral Reserves for Castelo de Sonhos are a subset of the Indicated Mineral Resources as described above, as none of the mineral resources were classified in the Measured Category there are no Proven Reserves. Probable Mineral Reserves are modified from Indicated Mineral Resources and are summarized in the table below. Inferred Mineral Resources are set to waste.
Region |
Classification |
Tonnage (Mt) |
Grade (g/t Au) |
Metal Content (Moz Au) |
Esperança South |
Probable |
24.2 |
1.28 |
0.99 |
Esperança East |
Probable |
3.1 |
0.82 |
0.08 |
Esperança Center |
Probable |
11.4 |
0.78 |
0.29 |
Project Total |
Probable |
38.7 |
1.1 |
1.4 |
The Mineral Reserve estimates were prepared by Guilherme Gomides Ferreira MAIG of GE21 , and have an effective date of October 4, 2021.
Mineral Reserves are reported using the 2014 CIM Definition Standards and are estimated in accordance with the 2019 CIM Best Practices Guidelines. Mineral Reserves are based on the PFS LOM plan.
Mineral Reserves are mined tonnes and grade; and includes consideration for modifying factors such as loss and dilution.
Mineral Reserves are reported at a cut-off of 0.26 g/t gold. The cut-off grade covers processing costs of $9.99/t, general and administrative ("G&A") costs of $2.00/t, a gold price of US$1,550/oz. and uses a 98% metallurgical recovery for gold.
Numbers have been rounded as required by reporting guidelines. There are no other known factors or issues that materially affect the Mineral Reserve estimate other than which is disclosed above, and normal risks faced by mining projects in the jurisdiction in terms of environmental, permitting, taxation, socio-economic, marketing, and political factors and additional risk factors as listed in the "Cautionary Note Regarding Forward-Looking Information" section below.
Details are reported in press release dated October 5th, 2021 titled ‘TriStar Gold Announces Positive PFS with 1.4 Moz Gold Reserves and Pre-Tax 33% IRR and $400 Million NPV'