|As of December 31, 2020||Tonnes (Mt)||Au (g/t)||Ag (g/t)||Au (koz)||Ag (koz)|
|Reserves - Open Pit|
|El Limón (including El Limón Sur)|
|Proven & Probable||8.32||3.11||4.2||831||1,130|
|Proven & Probable||4.16||3.31||3.0||443||396|
|El Limón Guajes Low Grade|
|Proven & Probable||1.91||0.88||2.0||54||124|
|Total Open Pit|
|Proven & Probable||18.48||2.54||3.5||1,510||2,085|
|Reserves - El Limón Guajes Underground|
|Proven & Probable||0.97||6.87||7.1||215||222|
|Proven & Probable||1.06||5.80||5.6||198||189|
|Total El Limón Guajes Underground|
|Proven & Probable||2.03||6.32||6.3||413||411|
|Reserves - Open Pit & Underground|
|El Limón Guajes Complex|
|Proven & Probable||20.51||2.92||3.8||1,923||2,496|
Reserves and Resources
ELG Mineral Reserves
ELG Mineral Reserves Table Notes:
- Mineral reserves are founded on Guajes, El Limón and El Limón Sur measured and indicated mineral resources with an effective date of December 31, 2020.
- Mineral reserves are based on open pit mining within designed pits and underground cut and fill mining where appropriate and include estimates of dilution and mining losses.
- El Limón and Guajes Open Pit mineral reserves are reported above a diluted cut-off grade of 1.0 g/t Au within the designed pits assuming estimates for dilution and ore losses. El Limón Guajes Low Grade mineral reserves are reported above a diluted cut-off grade of 0.8 g/t Au.
- El Limón Underground mineral reserves are reported above a diluted incremental cut-off grade of 0.9 g/t Au and a diluted ore cut-off grade of 3.1 g/t Au within designed mine shapes assuming mechanized cut and fill mining method and estimates for dilution and mining losses.
- Cut-off grades, designed pits and mining shapes are considered appropriate for a metal price of $1,400/oz Au and metal recoveries of 89% Au and 28% Ag.
- Mineral reserves were developed in accordance with CIM guidelines.
- Rounding may result in apparent summation differences between tonnes, grade, and contained metal content.
- The qualified person for the mineral reserve estimate is Clifford Lafleur P.Eng the Director of Mineral Resources and Mine Engineering for the Corporation.
ELG Mineral Resources
ELG Mineral Resources Table Notes:
- The effective date of the estimate is December 31, 2020.
- The estimate was prepared by Dr. Lars Weiershäuser, P.Geo., an employee of the Company, who is a “Qualified Person” under NI 43-101.
- Mineral resources are reported inclusive mineral reserves; mineral resources that are not mineral reserves do not have demonstrated economic viability.
- Mineral resources amenable for open pit extraction:
- Resources have been reported below a topography with mining progress as of December 31, 2020. Stockpiled material is not considered in the minera resource tabulation.
- Resources are reported at a cut-off grade of 0.8 g/t gold and are constraint within a conceptual open pit shell.
- Assumed pit slopes range from 3 to 49 degrees.
- The assumed open pit mining costs are US$2.18/tonne, processing costs US$25.00/tonne, general and administrative costs of US$8.19/tonne processed
- Mineral resources amenable for underground extraction:
- Resources are reported above a 2.5 g/t Au cut-off grade.
- Resources have been reported considering mining progress as of December 1, 2020.
- Mineral resources for ELD have been reported below the reserve pit of the El Limón deposit.
- El Limon open pit mineral resources have been reduced between the final reserve pit and the resource pit to account for mineral resources reported under ELD including a conceptual crown pillar.
- Mineral resources are reported using a long-term metal prices of US$1,550/oz Au and US$20/oz Ag.
- Metallurgical recoveries are assumed to be 89% for Au and 28% for Ag.
- Mineral resources are classified in accordance with the CIM Standards.
- Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade, and metal content.
Media Luna Mineral Resources
Notes to Mineral Resource Estimate Table:
- The effective date of the estimate is April 30, 2021.
- Mineral Resources are reported above a 2.0 g/t gold equivalent (AuEq) cut-off grade; AuEq = Au (g/t) + Cu % * (77.16/49.83) + Ag (g/t) * (0.64/49.83).
- The assumed mining method is from underground.
- Mineral Resources are reported using a long-term gold price of US$1,550/oz, silver price of US$20/oz, and copper price of US$3.50/lb.
- Costs per tonne of mineralized material (including mining, milling, and general and administrative) used is US$75/t.
- Metallurgical recoveries average 85% for gold, 75% for silver, and 89% for copper.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- Mineral Resources are classified in accordance with applicable Canadian Institute of Mining, Metallurgy and Petroleum Standards.
- Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade, and contained metal content.
- Mineral Resources are reported as undiluted; grades are contained grades.
- The estimate was prepared by Dr. Lars Weiershäuser, P.Geo., a former employee of and currently a consultant to the Company, who is a "Qualified Person" under NI 43-101.