Mineral Resources and Ore Reserves
Key to the future development of the Company site is our knowledge of the mineral resources and ore reserves within our contract areas.
Operations
Key to the future development of the Company site is our knowledge of the mineral resources and ore reserves within our contract areas.
Gedabek Open Pit JORC (2012) Mineral Resources and Ore Reserves – Summary
Gedabek Open Pit – JORC (2012) Mineral Resources and Ore Reserves Statements at 30 June 2020
Anglo Asian, together with the mining and geological consulting group Mining Plus, prepared the Mineral Resources and Ore Reserves estimation of the Gedabek deposit.
The Mineral Resources and Ore Reserves are prepared in accordance with JORC Code (2012), which is the current edition of the JORC Code. After a transition period, the 2012 edition came into mandatory operation from 1 December 2013. The Mineral Resources and Ore Reserves stated below are in-situ.
Gedabek Open Pit – Mineral Resources
MINERAL RESOURCES (cut-off grade of 0.2 g/t gold) | |||||||||
Mineral Resources | Tonnage | In-situ grades | Contained Metal | ||||||
Gold Grade | Copper Grade | Silver grade | Zinc grade | Gold | Copper | Silver | Zinc | ||
(Mt) | (g/t) | (%) | (g/t) | (%) | (koz) | (kt) | (koz) | (kt) | |
Measured | 15.8 | 0.66 | 0.12 | 2.58 | 0.24 | 335 | 19.0 | 1,311 | 37.9 |
Indicated | 12.0 | 0.56 | 0.12 | 2.31 | 0.16 | 216 | 14.4 | 891 | 19.2 |
Measured+Indicated | 27.8 | 0.62 | 0.12 | 2.46 | 0.21 | 551 | 33.4 | 2,202 | 57.1 |
Inferred | 33.4 | 0.44 | 0.06 | 0.61 | 0.15 | 184 | 7.8 | 255 | 19.5 |
Total | 40.8 | 0.56 | 0.10 | 1.87 | 0.19 | 735 | 41.2 | 2,457 | 76.6 |
Some of the totals above may not add due to rounding
ADDITIONAL MINERAL RESOURCES (Additional to Gold Mineral Resource) (gold cut-off 0.3 % | ||||||||||||
Gold | Copper | Silver | Zinc | Contained Metal | ||||||||
Tonnage | Goldgrade | Tonnage | Coppergrade | Tonnage | Silvergrade | Tonnage | Zinc grade | Gold | Copper | Silver | Zinc | |
(Mt) | (g/t) | (Mt) | (%) | (Mt) | (g/t) | (Mt) | (%) | (koz) | (kt) | (koz) | (kt) | |
Measured | - | - | 2.15 | 0.43 | 0.08 | 16.4 | 1.86 | 0.53 | - | 9.2 | 42 | 9.9 |
Indicated | - | - | 2.13 | 0.34 | 0.28 | 13.9 | 2.03 | 0.51 | - | 7.2 | 125 | 10.4 |
Measured+Indicated | - | - | 4.28 | 0.39 | 0.36 | 14.5 | 3.89 | 0.52 | - | 16.5 | 167 | 20.2 |
Inferred | - | - | 2.85 | 0.40 | 0.15 | 19.4 | 7.04 | 0.54 | - | 11.4 | 94 | 38.0 |
Total | - | - | 7.10 | 0.39 | 0.51 | 15.9 | 10.9 | 0.50 | - | 27.9 | 261 | 58.2 |
Some of the totals above may not add due to rounding
Mineral Resource classifications are based on the gold estimation confidence. Copper, silver, and zinc are reported within these classifications.
Stockpiles included in Measured Resources and Ore Reserves | |||||||
Measured Mineral Resources | Tonnage | Stockpile grades | Contained metal | ||||
Gold Grade | Copper Grade | Silver grade | Gold | Copper | Silver | ||
(Mt) | (g/t) | (%) | (g/t) | (koz) | (kt) | (koz) | |
Agitation leach | 0.02 | 1.87 | 0.24 | 17.79 | 1 | 0 | 10 |
Flotation | 0.14 | 0.90 | 0.53 | 11.71 | 4 | 0.7 | 53 |
Heap leach (crushed) | 0.06 | 0.81 | 0.11 | 7.71 | 2 | 0.1 | 16 |
Heap leach (ROM) | 0.61 | 0.73 | 0.21 | 10.23 | 14 | 4.3 | 201 |
Stockpile Mineral Resources | 0.83 | 0.79 | 0.26 | 10.44 | 21 | 2.2 | 279 |
Gedabek Open Pit – Ore Reserves
Tonnage | In-situ grades | Contained metal | |||||
Goldgrade | Coppergrade | Silvergrade | Gold | Copper | Silver | ||
(Mt) | (g/t) | (%) | (g/t) | (koz) | (kt) | (koz) | |
Proven | 8.07 | 0.72 | 0.19 | 3.48 | 187 | 15.3 | 902 |
Probable | 3.65 | 0.64 | 0.23 | 4.87 | 75 | 8.5 | 572 |
In situ-ore reserves | 11.72 | 0.70 | 0.20 | 3.91 | 263 | 24 | 1,474 |
Stockpile grades | |||||||
Agitation leach | 0.02 | 1.87 | 0.24 | 17.79 | 1 | 0 | 10 |
Flotation | 0.14 | 0.90 | 0.53 | 11.71 | 4 | 0.7 | 53 |
Heap leach (crushed) | 0.06 | 0.81 | 0.11 | 7.71 | 2 | 0.1 | 16 |
Heap leach (ROM) | 0.61 | 0.73 | 0.21 | 10.23 | 14 | 4.3 | 201 |
Stockpile ore reserves | 0.83 | 0.79 | 0.26 | 10.44 | 21 | 2.2 | 279 |
TOTAL ORE RESERVE | 12.55 | 0.70 | 0.21 | 4.34 | 284 | 26.0 | 1,754 |
Proved and Probable Ore Reserves estimate is based on that portion of the Measured and Indicated Mineral Resources of the deposit within the scheduled mine designs that may be economically extracted, considering all “Modifying Factors” in accordance with the JORC (2012) Code.
Zafar JORC (2021) Mineral Resources and Ore Reserves – Summary
Mineral Resource estimate for the Zafar deposit at 31 May 2021
Tonnage million tonnes | In-situ grades | Contained metal | Contained metal | Contained metal | |||
Contained metal | Contained metal | Contained metal | |||||
Copper % | Gold g/t | Zinc % | Copper kt | Gold kozs | Zinc kt | ||
Measured and indicated | 8.21 | 0.60 | 0.31 | 0.48 | 49 | 81 | 39 |
Inferred | 0.26 | 0.68 | 0.07 | 0.31 | 2 | 1 | 1 |
Total | 8.47 | 0.60 | 0.30 | 0.47 | 51 | 82 | 40 |
Note that all tonnages reported are dry metric tonnes. Totals may not add due to rounding.
Gadir Underground Mine JORC (2012) Mineral Resources and Ore Reserves – Summary
Gadir Underground Mine – JORC (2012) Mineral Resources and Ore Reserves Statements at 30 June 2020
Anglo Asian, together with the mining and geological consulting group Mining Plus, prepared the Mineral Resources and Ore Reserves estimation of the Gadir deposit.
The Mineral Resources and Ore Reserves are prepared in accordance with JORC Code (2012), which is the current edition of the JORC Code. After a transition period, the 2012 edition came into mandatory operation from 1 December 2013. The Mineral Resources and Ore Reserves stated below are in-situ.
Gadir Underground Mine – Mineral Resources
MINERAL RESOURCES (cut-off grade of 0.5 g/t gold) | |||||||||
Mineral Resources | Tonnage | In-situ grades | Contained Metal | ||||||
Gold grade | Copper grade | Silver grade | Zinc grade | Gold | Copper | Silver | Zinc | ||
(kt) | (g/t) | (%) | (g/t) | (%) | (koz) | (t) | (koz) | (t) | |
Measured | 2,035 | 2.47 | 0.09 | 4.69 | 0.61 | 162 | 1,831 | 307 | 12,407 |
Indicated | 966 | 1.59 | 0.02 | 0.63 | 0.33 | 49 | 193 | 20 | 3,188 |
Measured+Indicated | 3,001 | 2.19 | 0.07 | 3.40 | 0.52 | 211 | 2,024 | 326 | 15,595 |
Inferred | 1,594 | 1.10 | 0.01 | 0.03 | 0.10 | 56 | 159 | 2 | 1,594 |
TOTAL | 4,595 | 1.81 | 0.05 | 2.22 | 0.37 | 267 | 2,183 | 328 | 17,189 |
Some of the totals above may not add due to rounding
Gadir Underground Mine – Ore Reserves
Tonnage | In-situ grades | Contained metal | |||||
Goldgrade | Coppergrade | Silvergrade | Gold | Copper | Silver | ||
(Mt) | (g/t) | (%) | (g/t) | (koz) | (t) | (koz) | |
Proven | 0.47 | 2.32 | 0.04 | 3.38 | 35 | 173 | 51 |
Probable | 0.19 | 2.20 | 0.01 | 0.74 | 14 | 18 | 5 |
TOTAL ORE RESERVE | 0.66 | 2.28 | 0.03 | 2.60 | 49 | 191 | 56 |
Proved and Probable Ore Reserves estimate is based on that portion of the Measured and Indicated Mineral Resources of the deposit within the scheduled mine designs that may be economically extracted, considering all “Modifying Factors” in accordance with the JORC (2012) Code.
Gilar is a mineral deposit located in the Gedabek contract area approximately seven kilometres from the Company’s existing processing facilities. The area hosts two styles of mineralisation, gold in quartz veins and hydrothermal gold-copper.
On 11 December 2023, the Company published a JORC (2012) Mineral Resource Estimate for Gilar which contains 255,240 ounces of gold, 53,890 tonnes of copper and 45,720 tonnes of zinc. See the table below.
Reporting cut-off: >= 0.5 grammes per tonne of gold equivalent*
Tonnage (million tonnes) | In-situ grades | Contained metal | |||||
Gold (g/t) | Copper (per cent.) | Zinc (per cent.) | Gold (koz) | Copper (kt) | Zinc (kt) | ||
Measured | 3.88 | 1.49 | 1.08 | 0.91 | 186.06 | 42.09 | 35.43 |
Indicated | 2.02 | 1.00 | 0.56 | 0.48 | 64.80 | 11.30 | 9.77 |
Measured + Indicated | 5.90 | 1.32 | 0.90 | 0.77 | 250.86 | 53.39 | 45.20 |
Inferred | 0.20 | 0.70 | 0.26 | 0.26 | 4.38 | 0.50 | 0.51 |
Total | 6.10 | 1.30 | 0.88 | 0.75 | 255.24 | 53.89 | 45.72 |
The first mineral resource estimate of the Garadag Deposit was produced during the Soviet era dated 01 January 1992. It contained over 318,000 tonnes of copper under the Soviet Standard of resource classification and is tabulated below:
Unit | Copper Content | |||
Category C1 | Category C2 | Total C1 and C2 | ||
Ore | Millions of tonnes | 25.35 | 23.69 | 49.04 |
Copper content | Thousands of tonnes | 168 | 150.7 | 318.7 |
Grade | Per cent. | 0.65 | 0.64 | 0.64 |
AzerGold CJSC contracted with various international consultancies to work on the mineral resource estimation, in-pit resources and metallurgical testwork. All AzerGold CJSC samples were assayed and analysed by the international group, ALS. AMC Consultants PTY Ltd (“AMC”) provided resource estimation services and Bureau Veritas Minerals PTY Ltd (“BV”) were commissioned to carry out metallurgical testwork.
AMC prepared a Garadag pit optimisation and design study in February 2020 and developed two open pit scenarios, one mining over 43 million tonnes of ore (containing 163,000 tonnes of copper) over a 9 year period and the other mining over 90 million tonnes of ore (containing 307,000 tonnes of copper) over an 18 year period. These results partially confirmed the presence of over 300,000 tonnes of in-situ copper within an open pit shell.
Anglo Asian carried out mineral resource estimation based on geostatistical techniques and three-dimensional modelling on data received from AzerGold CJSC, constrained by the larger of the AMC pit shells (referenced in the paragraph above). This showed an “Indicated” plus “Inferred” mineral resource of over 66.3 million tonnes of ore at 0.49 per cent. copper, containing some 324,688 tonnes of copper, which further confirmed the copper potential of the Garadag Deposit. The database developed by Anglo Asian needs to be fully validated and further check drilling and confirmation of data will be carried out. The Company’s preliminary mineral resource estimate, although utilising geostatistical methods according to JORC guidelines, requires further work to satisfy the JORC Standard requirements and is therefore not prepared to JORC Standard. The Company intends to prepare a mineral resource estimate to the JORC Standard on completion of the evaluation programme.
The Xarxar deposit is located in the Xarxar contract area and hosts a range of copper minerals, including malachite, azurite, chalcocite, bornite, neotocite, chalcopyrite, rarely molybdenite and pyrite minerals associated with intense argillic and phyllic alteration.
On 20 February 2024, the Company published a JORC (2012) Mineral Resource Estimate for Xarxar which contains 119,100 tonnes of copper. See the table below.
Reporting cut-off: >= 0.2 per cent. copper
Mineral resources estimate for the Xarxar Deposit by oxidation domain - January 2024 | |||||||||
Domain | Indicated | Indicated | Indicated and inferred(i) | ||||||
Tonnes | Grade | Metal | Tonnes | Grade | Metal | Tonnes | Grade | Metal | |
(Mt) | (%) | (kt) | (Mt) | (%) | (kt) | (Mt) | (%) | (kt) | |
Oxide | 5.2 | 0.55 | 28.5 | 0.8 | 0.66 | 5.2 | 5.9 | 0.57 | 33.7 |
Sulphide | 16.8 | 0.46 | 77.9 | 2.1 | 0.35 | 7.6 | 18.9 | 0.45 | 85.5 |
Total | 22.0 | 0.48 | 106.3 | 2.9 | 0.44 | 12.8 | 24.9 | 0.48 | 119.1 |
(i) Note that Measured Resources were nil due to insufficient third-party quality assurance and quality control (“QAQC”) drill core assays being carried out. Further QAQC drill core assays will be carried out.
Note that all tonnages reported are dry metric tonnes. Totals may not add due to rounding.