Mineral Reserves. The estimated proven and probable mineral reserves and estimated indicated, measured and inferred mineral resources publicly disclosed by the Company have been prepared and disclosed in all material respects in accordance with accepted mining, engineering, geoscience and other approved industry practices, and all applicable Laws. The information provided by the Company to the “qualified persons” (as defined in Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects) in connection with the preparation of such estimates was complete and accurate at the time such information was furnished. There has been no material reduction in the aggregate amount of estimated mineral reserves or estimated mineral resources of the Company from the amounts so disclosed.
Mineral Reserves. Other than as described in SCHEDULE 5.23, no mineral reserves owned by or leased to Seller and included among the Acquired Assets are subject to any agreement, contract or arrangement which imposes any obligation on Seller, and all rentals, royalties, and taxes thereon or other royalties or payments due with respect to such mineral reserves or under such agreements and payable by Seller in respect of periods prior to the Closing Date have been or will be timely, properly and fully paid.
Mineral Reserves. The qualitative and quantitative data regarding proven and probable mineral reserves of the Company included in the Registration Statement, the General Disclosure Package and the Prospectus (i) were derived in all material respects in accordance with the procedures described in the Registration Statement, the General Disclosure Package and the Prospectus and all applicable industry standards, including Industry Guide 7 under the 1934 Act, and (ii) have been determined by SRK Consulting (U.S.), Inc., an independent consulting firm.
Mineral Reserves. The potash and langbeinite reserve estimates of the Company contained or incorporated by reference in the Registration Statement and the Prospectus are derived from reports that have been prepared and audited by Xxxxxxx Associates, Inc., and such estimates (i) fairly reflect, in all material respects, the proven and probable reserves attributable to the Company at the dates indicated therein and (ii) were calculated in accordance with standard mining engineering procedures used in the potash industry and applicable government reporting requirements and applicable law. All assumptions used in the calculation of the potash and langbeinite reserve estimates of the Company contained or incorporated by reference in the Registration Statement and the Prospectus were and are reasonable with (i) the procedures described in the Registration Statement and the Prospectus and (ii) all applicable guidelines and industry standards, including Industry Guide 7, of the Commission applied on a consistent basis throughout the periods involved. Xxxxxxx Associates, Inc., which prepared the reports and audits upon which the estimates of the proven and probable reserves of the Company disclosed in the Registration Statement and the Prospectus were based, is an independent mining engineer with respect to the Company and for the periods set forth in the Registration Statement and the Prospectus.
Mineral Reserves. (a) the proven and probable mineral reserves for the various mineral properties in which Mercator or any of its Subsidiaries holds an interest, as set forth in the Mercator Public Record were prepared in accordance with sound mining, engineering, geoscience and other applicable industry standards and practices, and in accordance with the requirements of National Instrument 43-101, Standards of Disclosure for Mineral Projects and were, at such date, true and correct in all material respects;
Mineral Reserves. 33 5.24 Correctness of Representations . . . . . . . . . . . . 34 5.25 Definition of "knowledge". . . . . . . . . . . . . . . 34 ARTICLE 6
Mineral Reserves. (Mineral Reserves may be estimated purely based on level of exploration, with reference to the threshold value of minerals declared by IBM) For G1, The reserves is estimated for UNFC-111 Category (Proved Reserve), UNFC-121+122 Category (Probable Reserve) & UNFC-211 Category (Possible Reserve) as per mineral availability upto a depth of 60m. from top level. For G2, Surface exposure of Granite for further depth extension will be checked by DTH bore holes. For mineral Granite & Masonry Stone Level of Exploration Reserves in MT Grade (Mainly available) G1-Detailed Exploration 672000 No grading of mineral is done. G2-General Exploration Nil G3- Prospecting Nil G4- Reconnaissance Nil Resources and Reserves within the lease may be arrived after applying results feasibility/prefeasibility study and economic evaluation of deposit based on various factors such as:
Mineral Reserves. The fully diluted proven and probable reserves mined by open pit methods for each ore type are presented below: Oxide Tonnes Au (g/t) Ag (g/t) Proven 663,000 6.87 28.93 Probable 3,353,000 8.21 33.62 Combined 4,016,000 7.99 32.85 Supergene Tonnes Cu (%) Au (g/t) Ag (g/t) Proven 808,000 5.10 0.81 44.74 Probable 5,542,000 4.30 0.83 34.71 Combined 6,350,000 4.40 0.83 35.98 Primary Tonnes Zn (%) Cu (%) Au (g/t) Ag (g/t) Proven 353,000 11.38 1.10 0.82 65.56 Probable 9,360,000 7.05 1.15 0.76 53.57 Combined 9,713,000 7.21 1.14 0.76 54.00 TOTAL Combined 20,079,000 Processing Processing of the three ore types will utilize a common crushing and SAG/ball grinding circuit, but will require three different extraction and processing circuits. After grinding, gold and silver will be extracted from the oxide ore by conventional cyanide leaching and recovered by the carbon in pulp process. Later in the project the supergene and primary ores will be processed by a conventional flotation process to recover copper and zinc as concentrates for direct sale to smelters. The tailing systems will be common for all three ore types. The feasibility study envisages the mining and processing of each zone in succession starting with the surface oxide zone. Before the oxide ore is exhausted the copper flotation process equipment will be installed and commissioned so that a smooth transition can be made from oxide ore to the supergene ore treatment. Similarly, before the supergene ore is exhausted, the additional flotation equipment required to recover the zinc from the primary ore will be installed and commissioned to permit a smooth transition from supergene to primary ore. In the first two years of production, gold and silver will be extracted together. Production of copper concentrate will begin with a minor amount in Year 2, significant quantities for Years 3 to 5, and smaller quantities in Years 6 to 10. Zinc concentrate production occurs only in Years 6 to 10.
Mineral Reserves. Resources, estimated based on level of exploration with reference to threshold value of mineral declared by IBM Level Of Exploration Band-I Band-II Number of holes drilled where ore has been intersected Proved Level (mRL) Number of holes drilled where ore has been intersected Proved Level (mRL) G1 26 (density of drilling 50m x 50 m) Up to (-) 768 7 (density of drilling 50m x 50 m) Up t0 (-) 322 mRL G2 50 meter Influence Taken below G2 Level Up to (-) 818 1 (-) 372 mRL G3 50 meter Influence Taken below G2 Level Up to (-) 868 50 m Influence Taken below G2 Level Up to (-) 422 mRL Resource and Reserves within lease may be arrived after applying results feasibility study and economic evaluation of deposits based on various factors such as
Mineral Reserves. 21 5.21 Operation in Ordinary Course....................................21 5.22 No Other Representations or Warranties..........................22 5.23 No Warranty of Probable Success or Condition of Assets..........22
