Gold Price$US 1238.33
TSX.V: ORG$0.425

Reserves / Resources

Project Mineral Resource Estimates were updated in September 2018 (News Release September 18, 2018) by independent consultant MPR Geological Consultants of Perth, Western Australia using Multiple Indicator Kriging (MIK), and are shown below at a range of cut-off grades:

Deposit Cut Off Indicated Inferred
Mt Au g/t Ag g/t Au Koz Ag Koz Mt Au g/t Ag g/t Au Koz Ag Koz
Galat Sufar South 0.3 129.0 0.92 1.19 3,823 4,954 35.4 0.8 1.1 901 1,289
0.4 106.9 1.04 1.29 3,575 4,448 27.0 0.9 1.2 807 1,058
0.5 89.5 1.16 1.39 3,326 4,002 21.1 1.1 1.3 722 873
0.6 75.6 1.27 1.48 3,080 3,607 16.9 1.2 1.4 648 745
0.7 64.0 1.38 1.58 2,839 3,249 13.7 1.3 1.5 582 640
0.8 54.5 1.49 1.67 2,610 2,924 11.3 1.4 1.5 524 558
0.9 46.5 1.60 1.76 2,392 2,629 9.4 1.6 1.6 471 487
1.0 39.8 1.71 1.84 2,187 2,359 7.8 1.7 1.7 424 427
1.1 34.1 1.82 1.93 1,994 2,114 6.6 1.8 1.8 382 375
1.2 29.3 1.93 2.01 1,815 1,892 5.6 1.9 1.9 344 331
Wadi Doum 0.3 7.8 1.23 4.70 311 1,184 4.9 0.7 3.1 106 477
0.4 6.3 1.46 4.98 293 1,003 3.3 0.8 3.2 89 337
0.5 5.1 1.68 5.22 277 862 2.3 1.0 3.4 75 250
0.6 4.3 1.90 5.45 262 751 1.6 1.2 3.6 63 191
0.7 3.7 2.12 5.65 249 664 1.2 1.4 3.8 54 149
0.8 3.2 2.32 5.84 237 595 0.9 1.6 4.1 47 119
0.9 2.8 2.52 6.00 227 540 0.7 1.8 4.3 41 97
1.0 2.5 2.71 6.15 218 494 0.6 2.1 4.5 37 81
1.1 2.3 2.89 6.27 210 456 0.5 2.3 4.7 33 69
1.2 2.1 3.05 6.39 202 423 0.4 2.5 4.9 31 59
Combined 0.3 136.8 0.94 1.40 4,133 6,137 40.3 0.8 1.4 1,007 1,766
0.4 113.2 1.06 1.50 3,868 5,451 30.3 0.9 1.4 896 1,395
0.5 94.6 1.18 1.60 3,603 4,864 23.4 1.1 1.5 797 1,123
0.6 79.9 1.30 1.70 3,342 4,358 18.5 1.2 1.6 711 936
0.7 67.7 1.42 1.80 3,088 3,913 14.9 1.3 1.6 636 789
0.8 57.7 1.53 1.90 2,847 3,519 12.2 1.5 1.7 571 677
0.9 49.3 1.65 2.00 2,619 3,169 10.1 1.6 1.8 512 584
1.0 42.3 1.77 2.10 2,405 2,853 8.4 1.7 1.9 461 508
1.1 36.4 1.88 2.20 2,204 2,570 7.1 1.8 1.9 415 444
1.2 31.4 2.00 2.29 2,017 2,315 6.0 1.9 2.0 375 390

Notes: Defined under Canadian National Instrument 43-101 ("NI 43-101"), Standards of Disclosure for Mineral Projects. Numbers may not add up due to rounding.

The Mineral Resource has been estimated using the results of 111,761 metres of drilling in 756 holes completed between November 2012 and August 2018.

Importantly, the resource contains a higher-grade core within both the GSS and Wadi Doum deposits which results in the mining of higher grades in the early years of the project, significantly impacting economics.

Relative to the previous Mineral Resource Estimates, the September 2018 Mineral Resource Estimate is based on an additional 10,792m of drilling in 7 diamond holes and 57 reverse circulation (“RC”) holes completed at GSS and an additional 1,882m of drilling in 3 diamond holes and 8 RC holes completed at Wadi Doum.

Results of the Mineral Resource update are shown below by oxidation category at a cut-off grade of 0.6g/t:

Deposit Oxcat Indicated Inferred
Mt Au g/t Ag g/t Au koz Ag koz Mt Au g/t Ag g/t Au koz Ag koz
Galat Sufar South Oxide 9.6 1.32 1.41 409 437 1.0 1.0 1.1 31 35
Trans 13.2 1.22 1.31 517 557 1.5 1.0 1.1 49 55
Fresh 52.7 1.27 1.54 2,153 2,613 14.4 1.2 1.4 567 655
Total 75.6 1.27 1.48 3,080 3,607 16.9 1.2 1.4 648 745
Wadi Doum Oxide 0.6 1.90 2.82 34 50 0.1 1.0 1.6 3 6
Trans 0.2 2.02 3.69 10 18 0.04 0.91 1.6 1 2
Fresh 3.6 1.89 5.93 218 683 1.5 1.2 3.8 59 183
Total 4.3 1.90 5.45 262 751 1.6 1.2 3.6 63 191
Combined Oxide 10.2 1.35 1.49 443 487 1.1 1.0 1.2 34 41
Trans 13.4 1.22 1.33 527 575 1.5 1.0 1.2 50 57
Fresh 56.3 1.31 1.82 2,371 3,296 15.9 1.2 1.6 626 838
Total 79.9 1.30 1.70 3,342 4,358 18.5 1.2 1.6 711 936

Stay Informed

Subscribe today and recieve email notification when new information is posted on our website.