Condor Summary Resources

Condor Deposit Areas - Resource Summary

 

TONNAGE

GRADE

CONTAINED METAL

 

(Mt)

Au (g/t)

Ag (g/t)

Cu (%)

Au (Moz)

Ag (Moz)

Cu (Mlbs)

DEPOSIT

INDICATED

Santa Barbara

19.7

0.63

0.6

0.09

0.4

0.4

41

Soledad

12.3

0.72

5.3

0.01

0.3

2.1

4

Los Cuyes

39.8

0.68

5.5

0.02

0.9

7.1

13

Enma

0.5

0.72

11.6

0.01

0.01

0.2

0.1

Total Indicated

72.1

0.67

4.2

0.04

1.6

9.7

57

 

INFERRED

Camp

11.9

2.26

19.5

0.03

0.9

7.4

7

Santa Barbara

130.4

0.52

0.9

0.10

2.2

3.9

279

Soledad

3.3

0.56

3.2

0.01

0.06

0.3

1

Los Cuyes

24.0

0.65

5.6

0.01

0.5

4.3

5

Enma

0.04

1.09

10.1

0.01

0.001

0.01

0.0

Total Inferred

169.6

0.66

2.9

0.08

3.6

16.0

292

Notes:  

Resource QP:  Rob Sim, P.Geo., as defined by NI 43-101

(1) The mineral resource estimate has an effective date of March 30, 2020. (2) There are no known issues related to legal, political or environmental issues that could materially affect the potential development of the mineral resources. (3) The quantity and grade of reported inferred mineral resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred mineral resources as an indicated or measured mineral resource. It is reasonable to expect that the majority of inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration.  (4) Gold equivalent (AuEq) values were calculated using the following prices: a gold price of US$1,500 per ounce, a copper price of US$3.00 per pound, a zinc price of $1.25/lb, a lead price of $1.00/lb and for a silver price of US$18 per ounce. Gold equivalent values at the Camp deposit are calculated using the following formula: AuEq = Au g/t + (Ag g/t x 0.012) + (Cu% x 1.371) + (Pb% x 0.457) + (Zn% x 0.571). Gold equivalent grades at the other deposits are calculated using the formula  AuEq = Au g/t + (Ag g/t x 0.012) + (Cu% x 1.371)   (5) The base case cut-off grade is 0.35 g/t AuEq for pit constrained mineral resources at the Soledad, Los Cuyes, Santa Barbara and Enma deposits limited inside $1,500/oz Au pit shells. The cut-off grade for mineral resources considered amenable to underground extraction methods at the Camp deposit is 1.50 g/t AuEq.

Camp Deposit - Inferred Resource (1.5 g/t AuEq Cut-off)

 

AVERAGE GRADE

CONTAINED METAL

Million  Tonnes

AuEq (g/t)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

AuEq (koz )

Au (koz)

Ag (Moz)

Cu (Mlbs)

Pb (Mlbs)

Zn (Mlbs)

11.9

2.95

2.26

19.5

0.03

0.09

0.66

1,126

864

7.4

7.1

22.5

173.0

Note:  The base case cut-off grade is 1.50 g/t gold equivalent (AuEq) where: AuEq = Au g/t + (Ag g/t × 0.012) + (Cu% × 1.371) + (Pb% × 0.457) + (Zn% × 0.571). Mineral resources exhibit reasonable prospects of eventual economic extraction using underground extraction methods.

 

Qualified Person

  • Condor Resource QP: Rob Sim, P.Geo., as defined by NI 43-101
  • Leo Hathaway, P.Geo, a "qualified person" within the definition of that term in NI 43-101, has reviewed and approved the scientific and technical information contained on this page.

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