Projects/Assets

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.