| Reserves and resources |
The Mineral Resource estimate was prepared and classified
into Indicated and Inferred categories. The
classification was based upon a
number of criteria including the geological confidence, the integrity of the
data,
the spatial continuity of the mineralization as demonstrated by
variography, the quality of the estimation, and
the expectation of economic
extraction. The Snowden estimate of the Mineral Resource is based on the
existing
surface drillhole information, plus results of pit sampling and
Snowden considered that the available information
for the Madneuli deposit
demonstrates sufficient confidence and continuity in the mineralization to
define the
Mineral Resources in the Indicated and Inferred categories
Resource-classification | K Tonnes | Cu (%) | Au(g/t) | Cu(t) | Total-Au(oz) |
Indicated | 15.080 | 0.48 | 0.54 | 73,000 | 262,000 |
Inferred | 436 | 0.54 | 0.39 | 2,000 | 5,000 |
Total
Indicated & Inferred | 15,516 | 0.48 | 0.54 | 75,000 | 267,000 |
The Ore Reserve estimate relates specifically to the conversion of Indicated Resources only in the Madneuli pit design and includes mining factors for dilution and ore loss.
M Tonnes(a) | Cu (%)(b) | Au (g/t)(b) | Cu(t) | Au(oz) | ||
Reserve class | 15.2 | 0.46 | 0.52 | 70,000 | 252,000 | |
Well known website for miners The mineweb.com released apology letter saying that recent allegations against JSC Madneuli posted on mineweb.com are untrue.
