New York (United States) –
Lifezone Metals Limited
(NYSE: LZM)
is a modern metals company creating value
across the battery metals supply chain from resource to metals production and recycling. Lifezone Metals’ Chief
Executive Officer Chris Showalter is pleased to announce the Mineral Resource Update for the Kabanga Nickel
Project, located in north-west Tanzania. The November 2023 Mineral Resource Update reflects the results of
Lifezone Metals’ 2021-2023 drilling programs and an updated mineralization interpretation, reconfirming the
continuity of high-grade nickel mineralization at Kabanga.
The Kabanga Nickel Project is currently 69.7% owned by Lifezone Metals and
all Mineral Resources are shown on an attributable to Lifezone Metals basis and as such do not represent the total resource tonnage.
Mr. Showalter commented: “Kabanga continues to demonstrate its exceptional quality
and world-scale. The significant increase in the Measured and Indicated Mineral Resources provides a solid
foundation for the ongoing Definitive Feasibility Study, which is expected to be completed by the end of Q3
2024. We believe that Kabanga has the potential to become a low-cost, long-life and environmentally responsible
producer of nickel, copper and cobalt, which are critical metals for the green energy transition. We look
forward to advancing the Project in close coordination with the Government of Tanzania, who have been highly
supportive of our efforts.”
Highlights of the November 2023 Mineral Resource Update:
- Attributable Measured and Indicated Resources total
43.6 million tonnes grading 2.02% nickel, 0.28% copper and 0.16% cobalt (2.57% nickel-equivalent).
- Plus, attributable Inferred Resources totaling 17.5
million tonnes grading 2.23% nickel, 0.31% copper and 0.16% cobalt (2.79% nickel-equivalent).
- Significantly, 71% of Kabanga’s Mineral Resource
tonnage is now classified in the higher confidence Measured and Indicated categories relative to
Inferred.
- Measured and Indicated Mineral Resource tonnages have
increased by 69% relative to the February 2023 Mineral Resource Estimate. Nickel-equivalent metal contained
in Measured and Indicated Resources has increased by 30%. Inferred Resources have also increased in tonnage
by 20%, with contained nickel-equivalent metal increasing by 4%.
- The Mineral Resource cut-off grade has remained
unchanged at 0.58% nickel-equivalent, as it was determined that the previous assumptions used remain
current.
- A significant proportion of the additional Mineral
Resource tonnage in the November 2023 Mineral Resource Update results from the inclusion of additional
ultramafic mineralization. The change in the processing flowsheet, including the addition of a
hydrometallurgical refinery, improves the prospects of economic extraction of the ultramafic
material.
- The massive sulfide Mineral Resource has also
increased across all categories, adding 10% more nickel-equivalent metal.
- Significant additional Mineral Resource tonnages have
been achieved at the Tembo Zone, which is located 1.0 kilometer north-east of the North Zone. Tembo remains
open along strike to the north-east towards the Safari Zone, in an area referred to as Safari Link.
- Other areas of Mineral Resource addition include at
the North, Main and MNB zones, and the first reporting of a Mineral Resource at the Kima Zone.
The Kabanga Mineral Resource Update was independently prepared by Sharron Sylvester,
Technical Director – Geology at OreWin Pty Ltd and in accordance with Regulation S-K subpart 1300 promulgated by
the U.S. Securities and Exchange Commission (S-K 1300). Mineral Resources are reported exclusive of Mineral
Reserves. There are no Mineral Reserves to report.
Figure 1: Click to view the Kabanga Nickel Project mineral resources photo reel (https://vimeo.com/891896457/f4ed5bda1e?share=copy).
Table 1: Kabanga Nickel Project Mineral Resource Update shown on an attributable to Lifezone Metals basis
(69.7%), as at November 30, 2023 – based on $9.50/lb nickel price, $4.00/lb copper price and $26.00/lb cobalt
price. Detailed tables are included as an Appendix to this news release.
|
Mineral Resource Classification
|
Attributable Tonnage
(Mt)
|
Grades
|
Recovery
|
|
NiEq23
(%)
|
Nickel
(%)
|
Copper
(%)
|
Cobalt
(%)
|
Nickel
(%)
|
Copper
(%)
|
Cobalt
(%)
|
|
OVERALL MINERAL RESOURCE – All Mineralization Types
|
|
Measured
|
14.1
|
2.61
|
2.03
|
0.28
|
0.17
|
87.2
|
85.1
|
88.1
|
|
Indicated
|
29.5
|
2.55
|
2.02
|
0.28
|
0.15
|
87.2
|
85.1
|
88.1
|
|
Measured + Indicated
|
43.6
|
2.57
|
2.02
|
0.28
|
0.16
|
87.2
|
85.1
|
88.1
|
|
Inferred
|
17.5
|
2.79
|
2.23
|
0.31
|
0.16
|
87.2
|
85.1
|
88.1
|
| |
|
|
|
|
Mineral Resource Classification
|
Attributable Tonnage
(Mt)
|
Grades
|
Attributable Contained Metals
|
|
NiEq23
(%)
|
Nickel
(%)
|
Copper
(%)
|
Cobalt
(%)
|
NiEq23
(kt)
|
Nickel
(kt)
|
Copper
(kt)
|
Cobalt
(kt)
|
|
OVERALL MINERAL RESOURCE – All Mineralization Types
|
|
Measured
|
14.1
|
2.61
|
2.03
|
0.28
|
0.17
|
368
|
286
|
39
|
24
|
|
Indicated
|
29.5
|
2.55
|
2.02
|
0.28
|
0.15
|
753
|
595
|
83
|
45
|
|
Measured + Indicated
|
43.6
|
2.57
|
2.02
|
0.28
|
0.16
|
1,121
|
881
|
122
|
69
|
|
Inferred
|
17.5
|
2.79
|
2.23
|
0.31
|
0.16
|
489
|
391
|
54
|
27
|
Kabanga currently comprises of six identified distinct mineralized zones, namely
(from south-west to north-east) the Main, MNB, Kima, North, Tembo and Safari zones, which occur over a strike
length exceeding 7.5 kilometers. The five mineralized zones that contribute to the Mineral Resource Update
are: Main, MNB, Kima, North and Tembo, which extend over a total strike length of 6.0 kilometers and to a depth
of up to 1.7 kilometers below surface.
Figure 2: Oblique long section showing mineralized zones and intercepts greater than 0.58%
nickel-equivalent (looking north-west).
Figure 3: Kabanga Nickel Project Mineral Resource Update shown by zones on an attributable to Lifezone Metals
basis.
Note: refer to the metals’ prices, recoveries and other assumptions as shown in Table
1 and the provided notes.
The North Zone remains the largest of the currently identified mineralized zones at
Kabanga with attributable Measured and Indicated Resources totaling 20.6 million tonnes grading 2.53% nickel,
0.34% copper and 0.18% cobalt (3.18% nickel-equivalent) and attributable Inferred Mineral Resources totaling
12.2 million tonnes grading 2.60% nickel, 0.35% copper and 0.18% cobalt (3.24% nickel-equivalent).
The Tembo Zone is the second largest zone, and all Mineral Resources at Tembo are
classified as Measured or Indicated, with combined total attributable 13.8 million tonnes grading 1.80% nickel,
0.25% copper and 0.15% cobalt (2.32% nickel-equivalent).
Within the North and Tembo zones, which form the bulk of contained Mineral Resources
at Kabanga, 74% of the Mineral Resources are classified as higher confidence Measured and Indicated (71% across
all zones at Kabanga) relative to Inferred. For comparison, the North and Tembo zones combined had 63%
classified as Measured and Indicated Resources in the February 2023 Mineral Resource Estimate.
Significant Increase in Tonnage and Contained Metal When Compared to the Previous February 2023 Mineral
Resource Estimate
Overall Measured and Indicated Mineral Resources have increased by 69% and Inferred
Mineral Resources have increased 20% at the Kabanga Nickel Project when compared to the previous February 2023
Mineral Resource Estimate. This reflects the results of Lifezone Metals’ 2021-2023 drilling programs and an
updated mineralization interpretation.
Lifezone Metals conducted multiple drill programs between 2021 to 2023 at the Kabanga
project and the results have been included into the Mineral Resource database (up to September 17, 2023; with
the exception of holes that have yet to be surveyed or with outstanding assay results). A breakdown of Lifezone
Metals’ drill programs is as follows:
- December 2021 to May 2022: 4,163 meters of drilling in
14 holes to provide 2,727 kilograms of metallurgical sample (in three bulk samples) from the North and Tembo
zones for flotation and hydrometallurgical test work in Perth, Australia.
- May 2022 to December 31, 2022: 7,186 meters of infill
drilling in 19 holes at Tembo North to increase confidence in this Zone over a 700-meter strike length and
to provide an additional bulk sample (464 kilograms) for flotation and hydrometallurgical test work in
Perth, Australia. An additional 768 meters in one drillhole was completed at the Safari Zone.
- January 2023 to September 17, 2023: 9,274 meters of
infill drilling in five holes at North to increase confidence over a 500-meter strike length, 16,727 meters
of infill drilling in 23 holes at Tembo to increase confidence along the entire strike length of the deposit
and 3,555 meters in six holes at Tembo for geotechnical purposes.
The KNL drilling up to September 17, 2023 has been incorporated into the Mineral
Resource database with the exception of holes yet to be surveyed or with outstanding assay results.
Figure 4: Comparison of overall attributable tonnes and grade between the February 2023
Mineral Resource Estimate and the November 2023 Mineral Resource Update.
Note: refer to the metals’ prices, recoveries and other assumptions as shown in Table
1 and the provided notes.
A significant proportion of the additional Mineral Resource tonnage in the November
2023 Mineral Resource Update results from the inclusion of ultramafic mineralization that was previously omitted
from the interpreted ultramafic boundaries at the North and Tembo zones based on notional cut-off grades. The
change in the processing flowsheet, by adding a hydrometallurgical refinery, improves the prospects of economic
extraction of the ultramafic material, and the ultramafic mineralization has been interpreted and had grade
estimation for the November 2023 Mineral Resource Update.
The Mineral Resource cut-off grade has remained unchanged at 0.58% nickel-equivalent,
which allows for a direct comparison between the February 2023 Mineral Resource Estimate and the November 2023
Mineral Resource Update. Metal price assumptions used for cut-off grade determination were $9.50/lb for nickel,
$4.00/lb for copper and $26.00/lb for cobalt.
Figure 5: Overall attributable tonnes and grade shown by mineralization type for the
November 2023 Mineral Resource Update.
Note: refer to the metals’ prices, recoveries and other assumptions as shown in Table
1 and the provided notes.
Figure 6: Significant additions made at the Tembo Zone between the February 2023 Mineral
Resource Estimate and the November 2023 Mineral Resource Update.
Note: refer to the metals’ prices, recoveries and other assumptions as shown in Table
1 and the provided notes.
Definitive Feasibility Study for a Small Surface Footprint, Low-Impact Underground Mine Expected by the End
of Q3 2024
Specific work is focused on completing geotechnical studies, underground mine design,
placement of surface infrastructure and positioning of the tailings storage facility. Water monitoring bores are
informing onsite hydrology studies and metallurgical testing is also underway with variability samples drilled
and collected. Underground mining is expected to have a small surface footprint with a low environmental
impact relative to open pit mining.
In anticipation of an increase in Mineral Resources at Kabanga, Lifezone Metals
ceased exploration drilling programs in November 2023. With the completion of the November 2023 Mineral Resource
Update and the significant conversion of Inferred Mineral Resources into the Measured and Indicated categories,
Lifezone Metals decided that there are now sufficient Mineral Resources to support the Definitive Feasibility
Study. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no
certainty that the Definitive Feasibility Study will result in Mineral Reserves.
Eleven exploration diamond drill holes have been completed at Safari Link, and
results will be reported when assays are received. Lifezone Metals’ geologists have said that the Safari Link
area represents the best opportunity for future resource addition.
Safety is the Top Priority at Kabanga
The Kabanga Nickel Project has recorded more than one and a half million hours worked
without a lost time injury. The “Your Safety is My Safety” campaign continues its successful implementation and
training continued with employees and contractors.
Safety initiatives completed so far include additional training of in-field
management; defensive driving refresher training for all site vehicle operators; and Standard Operating
Procedure reviews, task-based risk assessments and task-based observations.
Safety is the top priority at Kabanga – and is an ongoing, front of mind initiative
at every level.
Lifezone Metals Management Update
We regret to announce that Natasha Liddell, our Chief Sustainability Officer, will be
stepping down from her role at Lifezone Metals, effective February 2024. Ms. Liddell has been instrumental in
leading our corporate and local sustainability teams, and she is committed to ensuring a smooth transition of
duties. We are grateful for her contributions and wish her all the best in her future endeavors.
Qualified Persons
The Kabanga 2023 Mineral Resource Update Technical Report Summary (2023MRU) with an
effective date of November 30, 2023, has been prepared in accordance with the U.S. Securities and Exchange
Commission (US SEC) Regulation S-K subpart 1300 rules for Property Disclosures for Mining Registrants (S-K 1300)
for Lifezone Metals Ltd on the Kabanga nickel project. The 2023MRU is a preliminary technical and economic study
of the economic potential of the Project mineralization to support the disclosure of Mineral Resources. The
Mineral Resource estimates are current as at November 30, 2023.
The 2023MRU scientific and technical information in this news release has been
prepared and approved by Sharron Sylvester, BSc (Geol), RPGeo AIG (10125), Technical Director – Geology at
OreWin Pty Ltd and Bernard Peters, BEng (Mining), FAusIMM (201743), Technical Director – Mining at OreWin Pty
Ltd. Both individuals are Qualified Persons in accordance with S-K 1300 and are considered independent of
Lifezone Metals.
Other scientific and technical information in this news release has been reviewed and
approved by Raymond Kohlsmith, BSc (Hons.) (Geol) 1980, P.Geo (1044) PGO Canada, a Qualified Person in
accordance with S-K 1300. Mr. Kohlsmith is employed by Tembo Nickel Corporation Limited, an indirect
subsidiary of Lifezone Metals, as Exploration Geology Manager.
Contact
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About Lifezone Metals
Lifezone Metals (NYSE: LZM) is a modern metals company creating value across the battery metals supply chain from
resource to metals production and recycling. Our mission is to provide commercial access to proprietary technology
and cleaner metals production through a scalable platform underpinned by our tailored Hydromet Technology. This
technology has the potential to be a cleaner and lower cost alternative to smelting, allowing us to responsibly and
cost-effectively provide cleaner metals.
Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highestgrade
undeveloped nickel sulphide deposits, with Definitive Feasibility Study currently underway by pairing with our
Hydromet Technology, we will work to unlock a new source of LME-grade nickel, copper and cobalt for the global
battery metals markets. At Kabanga, we are working to empower Tanzania to archievce full value creation in-country
and become the next premier source of Class 1 nickel.
www.lifezonemetals.com
Forward-Looking Statements
Certain statements made herein are not historical facts but may be considered
“forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities
Exchange Act of 1934, as amended and the “safe harbor” provisions under the Private Securities Litigation Reform
Act of 1995 regarding, amongst other things, the plans, strategies, and prospects, both business and financial,
of Lifezone Metals Limited and its subsidiaries and/or affiliates.
Forward-looking statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,”
“potential,” “seem,” “seek,” “future,” “outlook” or the negatives of these terms or variations of them or
similar terminology or expressions that predict or indicate future events or trends or that are not statements
of historical matters; provided that the absence of these does not mean that a statement is not forward-looking.
These forward-looking statements include, but are not limited to, statements regarding future events, the
estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including
the efficacy of Lifezone Metals’ hydrometallurgical technology (Hydromet Technology) and the development of, and
processing of mineral resources at, the Kabanga Project, and other statements that are not historical
facts.
These statements are based on the current expectations of Lifezone Metals’ management
and are not predictions of actual performance. These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an
assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are
difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are
beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks
and uncertainties regarding Lifezone Metals’ business, and actual results may differ materially. These risks and
uncertainties include, but are not limited to: general economic, political and business conditions, including
but not limited to the economic and operational disruptions, global inflation and cost increases for materials
and services; failure to establish mineral reserves and mineral resources, the grade and recovery of metals
and/or minerals which are mined, success of future exploration, reliability of sampling and data, success of any
test-work, capital and operating costs varying significantly from estimates, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals, changes in government regulations,
legislation and rates of taxation, inflation, changes in exchange rates and the availability of foreign
exchange, fluctuations in commodity prices, delays in the development of projects and other factors, the outcome
of any legal proceedings that may be instituted against the Lifezone Metals in connection with the business
combination or otherwise; failure to realize the anticipated benefits of the business combination, including
difficulty in integrating the businesses of LHL and GoGreen; the risks related to the rollout of Lifezone
Metals’ business, the efficacy of the Hydromet Technology, and the timing of expected business milestones;
Lifezone Metals’ development of, and processing of mineral resources at, the Kabanga Project; the effects of
competition on Lifezone Metals’ business; the ability of Lifezone Metals to execute its growth strategy, manage
growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain
profitability; enhancing future operating and financial results; complying with laws and regulations applicable
to Lifezone’s business; the volatility of the trading price of Lifezone’s ordinary shares; Lifezone’s ability to
continue to comply with applicable listing standards of the NYSE; the ability of Lifezone to maintain the
listing of its securities on a U.S. national securities exchange; costs related to the business combination; and
other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission
(SEC).
The foregoing list of risk factors is not exhaustive. There may be additional risks
that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that
could also cause actual results to differ from those contained in forward-looking statements. In addition,
forward-looking statements provide Lifezone Metals’ expectations, plans or forecasts of future events and views
as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will
cause Lifezone Metals’ assessments to change. However, while Lifezone Metals may elect to update these
forward-looking statements in the future, Lifezone Metals specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as representing Lifezone
Metals’ assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance
should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation
by any person that the forward-looking statements set forth herein will be achieved or that any of the
contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on
forward-looking statements in this communication, which are based upon information available to us as of the
date they are made and are qualified in their entirety by reference to the cautionary statements herein.
Certain statements made herein include references to “clean” or “green” metals,
methods of production of such metals, energy, or the future in general. Such references relate to environmental
benefits such as lower green-house gas (GHG) emissions and energy consumption involved in the production of
metals using the Hydromet Technology relative to the use of traditional methods of production and the use of
metals such as nickel in the batteries used in electric vehicles.
While studies by third parties (commissioned by Lifezone Metals) have shown that the
Hydromet Technology, under certain conditions, results in lower GHG emissions and lower consumption of
electricity compared to smelting with respect to refining platinum group metals, no active refinery currently
licenses Lifezone Metals’ Hydromet Technology. Accordingly, Lifezone Metals’ Hydromet Technology and the
resultant metals may not achieve the environmental benefits to the extent Lifezone Metals expects or at all. Any
overstatement of the environmental benefits in this regard may have adverse implications for Lifezone Metals and
its stakeholders. Except as otherwise required by applicable law, we disclaim any obligation to publicly update
or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new
information, data, or methods, future events, or other changes after the date of this communication, except as
required by applicable law.
Appendix: Kabanga Nickel Project Mineral Resource Update by zone on an attributable to Lifezone Metals basis
(69.7%), as at November 30, 2023 – based on $9.50/lb nickel price, $4.00/lb copper price and $26.00/lb cobalt
price.
|
Mineral Resource Classification
|
Attributable Tonnage
(Mt)
|
Grades
|
Recovery
|
|
NiEq23
|
Nickel
|
Copper
|
Cobalt
|
Nickel
|
Copper
|
Cobalt
|
|
(%)
|
(%)
|
(%)
|
(%)
|
(%)
|
(%)
|
(%)
|
|
MAIN ZONE - All Mineralization Types
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
9.3
|
1.60
|
1.22
|
0.20
|
0.10
|
87.2
|
85.1
|
88.1
|
|
Measured + Indicated
|
9.3
|
1.60
|
1.22
|
0.20
|
0.10
|
87.2
|
85.1
|
88.1
|
|
Inferred
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
MNB ZONE - All Mineralization Types
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Measured + Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Inferred
|
1.9
|
1.47
|
1.14
|
0.17
|
0.09
|
87.2
|
85.1
|
88.1
|
|
KIMA ZONE - All Mineralization Types
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Measured + Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Inferred
|
3.4
|
1.95
|
1.53
|
0.25
|
0.11
|
87.2
|
85.1
|
88.1
|
|
NORTH ZONE - All Mineralization Types
|
|
Measured
|
6.1
|
2.99
|
2.34
|
0.32
|
0.19
|
87.2
|
85.1
|
88.1
|
|
Indicated
|
14.5
|
3.26
|
2.61
|
0.35
|
0.18
|
87.2
|
85.1
|
88.1
|
|
Measured + Indicated
|
20.6
|
3.18
|
2.53
|
0.34
|
0.18
|
87.2
|
85.1
|
88.1
|
|
Inferred
|
12.2
|
3.24
|
2.60
|
0.35
|
0.18
|
87.2
|
85.1
|
88.1
|
|
TEMBO ZONE - All Mineralization Types
|
|
Measured
|
8.0
|
2.33
|
1.80
|
0.25
|
0.16
|
87.2
|
85.1
|
88.1
|
|
Indicated
|
5.8
|
2.30
|
1.79
|
0.24
|
0.15
|
87.2
|
85.1
|
88.1
|
|
Measured + Indicated
|
13.8
|
2.32
|
1.80
|
0.25
|
0.15
|
87.2
|
85.1
|
88.1
|
|
Inferred
|
-
|
-
|
-
|
-
|
-
|
87.2
|
85.1
|
88.1
|
| |
|
Measured
|
14.1
|
2.61
|
2.03
|
0.28
|
0.17
|
87.2
|
85.1
|
88.1
|
|
Indicated
|
29.5
|
2.55
|
2.02
|
0.28
|
0.15
|
87.2
|
85.1
|
88.1
|
|
Measured + Indicated
|
43.6
|
2.57
|
2.02
|
0.28
|
0.16
|
87.2
|
85.1
|
88.1
|
|
Inferred
|
17.5
|
2.79
|
2.23
|
0.31
|
0.16
|
87.2
|
85.1
|
88.1
|
Appendix: Kabanga Nickel Project Mineral Resource Update by zone on an attributable to Lifezone Metals basis
(69.7%), as at November 30, 2023 – based on $9.50/lb nickel price, $4.00/lb copper price and $26.00/lb cobalt
price.
|
Mineral Resource Classification
|
Attributable Tonnage
(Mt)
|
Grades
|
Attributable Contained Metals
|
|
NiEq23
|
Nickel
|
Copper
|
Cobalt
|
NiEq23
|
Nickel
|
Copper
|
Cobalt
|
|
(%)
|
(%)
|
(%)
|
(%)
|
(kt)
|
(kt)
|
(kt)
|
(kt)
|
|
MAIN ZONE – All Mineralization Types
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
9.3
|
1.60
|
1.22
|
0.20
|
0.10
|
148
|
113
|
19
|
10
|
|
Measured + Indicated
|
9.3
|
1.60
|
1.22
|
0.20
|
0.10
|
148
|
113
|
19
|
10
|
|
Inferred
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
MNB ZONE – All Mineralization Types
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Measured + Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Inferred
|
1.9
|
1.47
|
1.14
|
0.17
|
0.09
|
28
|
22
|
3
|
2
|
|
KIMA ZONE – All Mineralization Types
|
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Measured + Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Inferred
|
3.4
|
1.95
|
1.53
|
0.25
|
0.11
|
67
|
53
|
8
|
4
|
|
NORTH ZONE – All Mineralization Types
|
|
Measured
|
6.1
|
2.99
|
2.34
|
0.32
|
0.19
|
182
|
142
|
19
|
11
|
|
Indicated
|
14.5
|
3.26
|
2.61
|
0.35
|
0.18
|
472
|
378
|
50
|
26
|
|
Measured + Indicated
|
20.6
|
3.18
|
2.53
|
0.34
|
0.18
|
654
|
521
|
70
|
38
|
|
Inferred
|
12.2
|
3.24
|
2.60
|
0.35
|
0.18
|
394
|
316
|
43
|
22
|
|
TEMBO ZONE – All Mineralization Types
|
|
Measured
|
8.0
|
2.33
|
1.80
|
0.25
|
0.16
|
186
|
144
|
20
|
12
|
|
Indicated
|
5.8
|
2.30
|
1.79
|
0.24
|
0.15
|
132
|
103
|
14
|
8
|
|
Measured + Indicated
|
13.8
|
2.32
|
1.80
|
0.25
|
0.15
|
319
|
247
|
34
|
21
|
|
Inferred
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
OVERALL MINERAL RESOURCE – All Mineralization Types
|
|
Measured
|
14.1
|
2.61
|
2.03
|
0.28
|
0.17
|
368
|
286
|
39
|
24
|
|
Indicated
|
29.5
|
2.55
|
2.02
|
0.28
|
0.15
|
753
|
595
|
83
|
45
|
|
Measured + Indicated
|
43.6
|
2.57
|
2.02
|
0.28
|
0.16
|
1,121
|
881
|
122
|
69
|
|
Inferred
|
17.5
|
2.79
|
2.23
|
0.31
|
0.16
|
489
|
391
|
54
|
27
|