Mineral Resources

Summarised below are the mineral resources that have been estimated by SRK Consulting (Chile) S.A. in accordance with the JORC Code for the Company's most advanced projects, namely Miraflores, Los Calatos, Mollacas and Vallecillo (La Colorada deposit).

Miraflores Project

Mineral Resource Statement, March 2017.

Classification Tonnes (000's) Au (g/t) Ag (g/t) Oz Au (000's) Oz Ag (000's)
Measured 2,958 2.98 2.49 283 237
Indicated 6,311 2.74 2.90 557 588
Measured & Indicated 9,269 2.82 2.77 840 826
Inferred 487 2.36 2.36 37 37

Note:

a) Based on a gold cut-off grade of 1.2g/t.  Rounding may result in minor discrepancies.

b) Mineral resource estimated by Metal Mining Consultants based in Denver, USA, in accordance with the JORC Code (2012 Edition).

Los Calatos Project

 Mineral Resource Statement, June 2015.

Resource Category Tonnes (million) Cu (%) Mo (%)
Measured 73 0.73 0.051
Indicated 63 0.73 0.034
Total Measured & Indicated 136 0.73 0.043
Inferred 216 0.78 0.024

Note:

a) Reported at a cut-off of 0.50% Cu. Rounding may result in minor discrepancies.

b) Mineral resource estimated by SRK Consulting (Chile) S.A. in accordance with the JORC Code (2012 Edition).

 

Mollacas Project

Mineral Resource Statement, July 2012 (Copper Leach Project – Oxides & Secondary Sulphides).

Resource Category Tonnes (million) CuT (%) Cu_Sol (%)
Measured 11.2 0.55 0.44
Indicated 4.3 0.41 0.29
Total Measured & Indicated 15.5 0.51 0.40

Note:

a) Reported at a cut-off of 0.20% copper. Rounding may result in minor discrepancies.

b) Mineral resource estimated by SRK Consulting (Chile) S.A. in accordance with the JORC Code (2004 Edition).

 

Vallecillo Project (La Colorada deposit)

Mineral Resource Statement, October 2012.

Resource Category Tonnes Au (g/t) Ag (g/t) Zn (%) Cu (%) Pb (%)
Measured 5.5 0.84 9.99 1.12 0.06 0.32
Indicated 2.6 0.80 10.23 0.94 0.07 0.35
Total Measured & Indicated 8.1 0.83 10.07 1.06 0.06 0.33
Inferred 0.8 0.50 8.62 0.48 0.12 0.17

Note:

a) Reported at a cut-off of 0.2g/t gold. Rounding may result in minor discrepancies.

b) Mineral resource estimated by SRK Consulting (Chile) S.A. in accordance with the JORC Code (2004 Edition).


Competent Person's Statement

Metminco

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Colin Sinclair, BSc, MSc, who is a Member of the Australasian Institute of Mining and Metallurgy and is currently employed by the Company in Chile.

Colin Sinclair has sufficient experience (over 30 years) which is relevant to the style of mineralisation, type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results’. Mr Sinclair, as Competent Person, has consented to the inclusion of the information in the form and context in which it appears herein.

Metal Mining Consultants Inc.

The information provided in this ASX Release as it relates to Exploration Results and Mineral Resources of the Miraflores Gold Project is based on information compiled by Scott Wilson, President of Metal Mining Consultants Inc. in Colorado, USA.  Mr Wilson, a Qualified Person for JORC (2012 Edition) compliant statements, reviewed the technical information presented in this document. 

Mr Wilson has sufficient experience that is relevant to the style of mineralisation and type of mineral deposit under consideration, and to the activity which was undertaken, to make the statements found in this report in the form and context in which they appear.  Mr Wilson has consented to be named in this announcement and inclusion of information attributed to him in the form and context in which it appears herein.

SRK Consulting (Chile) S.A.

Metminco supplied SRK with a geological model and the drill data. Precious and base metal grades were estimated into a block model using ordinary kriging with Vulcan software.

The information provided in this website as it relates to Exploration Results and Mineral Resources is based on information compiled by Mr George G. Even (Principal Geologist), Mr Ernesto Jaramillo (Principal Resource Geologist) and Mr Joled Nur (Principal Mining Engineer), of SRK. Mr Even, a Qualified Person for JORC 2004 compliant statements, reviewed the technical information for Mollacas and Vallecillo, wheres Mr Ernesto Jaramillo performed the resource estimation. Mr Nur, who is a member of the Australasian Institute of Mining and Metallurgy, and is a Qualified Person for JORC 2012 compliant statements, perfomed the resource estimation for Los Calatos.  Mr Even and Mr Nur have sufficient experience that is relevant to the style of mineralisation and type of mineral deposit under consideration, and to the activity which was undertaken, to make the statements found herein, in the form and context in which they appear.

Messrs Even, Jaramillo and Nur have consented to be named in terms of the respective mineral resource estimates, and have approved of the inclusion of the information attributed to them in the form and context in which it appears herein.