The Runruno JORC Resource Estimate is based on the Mining Associates 2011 Resource Statement put together for the Feasibility Study with minor updates in 2014 and 2022 reflecting slightly changed densities for the various rock-types as well as updates for orebody depletion as a result of mining. The Resource block model is continuously updated with mining assay results to generate the grade control model. Since mining began the reconciliation has generally indicated the grade control model continuously provides higher tonnes, but at lower grade. The mining block model forms the basis for the JORC Reserves presented below with dilution and volume factors based on historical results generated in the grade control model.
Reserves
JORC Reserves and Resources
2022 Ore Reserve Estimate
| Ore | |||
|---|---|---|---|
| Category | Mt | g/t | M oz |
| Proved | |||
| Probable | 9.94 | 1.35 | 0.43 |
| Total | 9.94 | 1.35 | 0.43 |
| Inferred included in LOM model pit | |||
| Inferred material | 0.69 | 1.11 | 0.02 |
Competent Persons’ Statement
The Ore Reserve Statement was compiled by Paola Tuyor of Metals Exploration and reviewed and verified by Grant Walker of Xenith Consulting. Mr Walker is a Member of The Australasian Institute of Mining and Metallurgy and is a Competent Person as defined by the JORC Code, 2012 Edition, having five years’ experience that is relevant to the style of mineralisation and type of deposit described in the Report.
