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Lorena
Resources & Reserves
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Resources & Reserves
Resource Estimate
A resource estimate was completed by Geos Mining in January 2012. The full Statement of Mineral Resources in respect of the Lorena Gold Project and associated the Competent Person Statement can be viewed by clicking
here
.
The resource estimate incorporates both historical data and the results of two phases of infill drilling conducted by Malachite during 2010-11 The resource estimation is presented in the two tables below; the first being the resource estimation for A Lode and the second for B Lode.
Table 1
– Resource Estimations for A Lode
Cut-off
Measured
Indicated
Total
Au g/t
Tonnes
Au g/t
Au Oz
Tonnes
Au g/t
Au Oz
Tonnes
Au g/t
Au Oz
5.0
34,700
11.7
13,100
57,000
15.6
28,600
91,700
14.2
41,700
2.0
68,700
7.6
16,700
110,800
9.5
34,000
179,500
8.8
50,700
1.0
88,300
6.2
17,600
165,900
6.9
36,600
254,200
6.6
54,200
0.5
105,800
5.3
18,000
228,200
5.2
38,000
334,000
5.2
56,000
0
156,100
3.7
18,400
513,100
2.4
39,500
669,200
2.7
57,900
Table 2
– Resource Estimations for B Lode
Cut-off
Indicated
Inferred
Total
Au g/t
Tonnes
Au g/t
Au Oz
Tonnes
Au g/t
Au Oz
Tonnes
Au g/t
Au Oz
5.0
2,400
9.7
800
10,900
11.9
4,200
13,300
11.5
5,000
2.0
3,100
8.3
800
20,600
7.7
5,100
23,700
7.8
5,900
1.0
3,800
7.1
900
30,800
5.6
5,600
34,600
5.8
6,400
0.5
8,400
3.6
1,000
45,000
4.1
5,900
53,400
4.0
6,900
0
14,200
2.2
1,000
117,200
1.6
6,200
131,400
1.7
7,200
The resource estimate for the A Lode, using 3D block modelling, amounts to 179,500 tonnes at 8.8 g/t Au, for a contained gold content of 50,700 ounces of gold at a 2 g/t cut off. The resource estimate for B Lode is an Inferred Resources of 23,700 tonnes at 7.8 g/t Au, for 5,900 ounces of contained gold at a 2 g/t gold cut-off.
Parts of the known resource contain very high grades and there is strong evidence for extensions to the known ore grade mineralisation at depth and along strike. Significant copper mineralisation is also present at Lorena, mostly in what appear to be discrete copper-gold lodes, adjacent to but separate from the main gold lodes.
A particular emphasis on the resource estimate by Geos Mining was the creation of a 3D block model that could be used as a basis for open pit mine design. The work carried out by GEOS confirmed a resource of 203,200 tonnes at 8.7 g/t Au, for a contained gold content of 56,730 ounces of gold at a 2 g/t cut off.