Re: Barrick raises Chile mine stake
in response to
by
posted on
Feb 18, 2010 12:29PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
December 31, 2008 |
December 31, 2007 |
|||||
Tonnes |
Gold |
Ounces of |
Tonnes |
Gold |
Ounces of |
|
Las Cristinas Proven Reserves
|
112,761 |
1.24 |
4,483,000 |
112,761 |
1.24 |
4,483,000 |
Las Cristinas Probable Reserves
|
351,601 |
1.10 |
12,379,000 |
351,601 |
1.10 |
12,379,000 |
TOTAL GOLD RESERVES |
464,362 |
1.13 |
16,862,000 |
464,362 |
1.13 |
16,862,000 |
|
|
|
|
|
|
December 31, 2008 |
December 31, 2007 |
|||||
Tonnes |
Gold |
Ounces of |
Tonnes |
Gold |
Ounces of |
|
Las Cristinas Measured & Indicated Resources
|
165,021 |
.73 |
3,899,000 |
165,021 |
.73 |
3,899,000 |
La Victoria2 |
--- |
--- |
--- |
2,422 |
4.5 |
349,000 |
Total Measured & Indicated Gold Resources |
165,021 |
.73 |
3,899,000 |
167,443 |
.79 |
4,248,000 |
Las Cristinas Inferred Resources3 | 229,626 |
.85 |
6,276,000 |
229,626 |
.85 |
6,276,000 |
1 The mineral reserves and resources for the Las Cristinas Project are based on estimates prepared by MDA (Steve Ristorcelli, P. Geo. and Thomas Dyer, P. Eng. of MDA were the Qualified Persons) in the 2007 Technical Report Update. The mineral reserves estimated by MDA are based on a US$550 per ounce gold price and cut-off grades ranging from 0.33 grams of gold per tonne to 0.57grams of gold per tonne depending on the mineral type. The mineral resources estimated by MDA are based on a cut-off grade of 0.5 grams of gold per tonne.
2 The mineral resource with respect to the La Victoria operation was estimated by Dr. Richard Spencer, P. Geo, formerly VP
3 The inferred resources are based on a cut-off grade of 0.5 grams of gold per tonne.
The Company employs industry standards and methods for estimating mineral reserves and resources. However, reported mineral reserves and resources are only estimates and no assurance can be given that the indicated quantities of gold will be produced. Mineral reserve and resource estimates may require revision (either up or down) based upon actual production experience. Market fluctuations in the price of metals, as well as increased production costs or reduced recovery rates, may render certain mineral reserves and resources uneconomic and may ultimately result in a restatement of reserves and/or resources. Moreover, short-term operating factors relating to the mineral reserves and resources, such as the need for sequential development of ore bodies and the processing of new or different ore grades, may adversely affect the Company’s profitability in any particular accounting period.
In calculating mineral reserves, cutoff grades are established using the Company’s long-term gold price, the average metallurgical recovery rates and estimated production costs over the life of the related operation.
A Qualified Person, as defined in National Instrument 43-101, is an individual who is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation, mineral project assessment, or any combination of these, has experience relevant to the subject matter of the mineral project and the technical report, and is a member in good standing of a professional association.
http://www.crystallex.com/Projects/ReservesResources/default.aspx