Mineral Resources

Mineral Resources2021-09-24T13:54:17+10:30

 

Hayes Creek Mineral Resources

Table 1:  Iron Blow Mineral Resources by Classification reported 3 May 2017 in accordance with the JORC Code (2012)

JORC ClassificationLodeAuEq Cut-off (g/t)Tonnage (kt)Zn (%)Pb (%)Cu (%)Ag (g/t)Au (g/t)ZnEq (%)AuEq (g/t)
IndicatedEast Lode1.08007.641.830.302752.9020.6415.53
West Lode1.01,2804.140.330.31601.738.846.66
Total Indicated2,0805.490.910.301432.1913.3910.08
InferredEast Lode1.0200.480.340.161326.0113.659.43
West Lode1.0200.760.960.131091.025.904.44
FW Gold1.02100.250.070.03162.033.482.62
HW Gold1.0400.060.090.0161.682.571.94
Interlode Gold1.0400.210.030.0781.662.792.10
Interlode Base Metal1.01203.520.320.14350.695.874.42
Total Inferred4501.110.180.07271.714.383.30
Total Indicated + Inferred Mineral Resource2,5304.710.780.261222.1011.798.87
Total Contained Metal (t)119,20019,7006,6509.9Moz170.9koz298,000t721.5koz

Table 2:  Mt Bonnie Mineral Resources by Classification reported 9 February 2017 in accordance with the JORC Code (2012)

JORC ClassificationDomainCut-off gradeTonnage (kt)Zn (%)Pb (%)Cu (%)Ag (g/t)Au (g/t)ZnEq (%)AuEq (g/t)
IndicatedOxide/Transitional0.5g/t Au1950.942.430.181713.8011.509.44
IndicatedFresh1% Zn1,1804.460.940.231211.029.607.88
Total Indicated1,3753.961.150.231281.419.878.11
InferredOxide/Transitional0.5g/t Au320.431.330.29742.286.375.23
InferredFresh1% Zn1182.910.900.151350.547.616.25
InferredAg Zone50g/t Ag210.170.030.04870.042.361.94
Total Inferred1712.110.870.161180.806.735.53
Total Indicated + Inferred Mineral Resource1,5453.761.120.221271.349.537.82
Total Contained Metal (t)58,00017,3003,4006.3Moz66.8koz147,000t388.5koz

Table 3: Commodity price and metal recovery assumptions for Hayes Creek Mineral Resources

MetalsUnitPriceRecovery Mt BonnieRecovery Iron Blow
ZnUSD / t2,45080%80%
PbUSD / t2,10060%60%
CuUSD / t6,20060%60%
AgUSD / troy ounce20.5070%80%
AuUSD / troy ounce1,35055%60%

Notes relating to Hayes Creek Project Resource Tables

  • Due to effects of rounding, the total may not represent the sum of all components. No material changes in the estimates of the Mineral Resources at Mt Bonnie and Iron Blow have occurred since they were originally reported.
  • Metallurgical recoveries and metal prices (Table 4) have been applied in calculating zinc equivalent (ZnEq) and gold equivalent (AuEq) grades.
  • Iron Blow – A mineralisation envelope was interpreted for each of the two main lodes, the East Lode (Zn-Au-Ag-Pb) and West Lode (Zn-Au), and four subsidiary lodes with a 1 g/t AuEq cut-off used to interpret and report these lodes.
  • Mt Bonnie – Zinc domains are reported above a cut-of grade of 1% zinc, gold domains are reported above a cut-off grade of 0.5 g/t gold and silver domains are reported above a cut-off grade of 50 g/t silver.

Fountain Head Mineral Resources

Table 4: Fountain Head and tally Ho Mineral Resources by Classification reported 16 June 2020 in accordance with the JORC Code (2012)

 

JORC Classification Tonnage (Mt) Au (g/t) Ounces (Koz)
Tally Ho
Indicated 0.94 2.0 59
Inferred
Total 0.94 2.0 59
Fountain Head
Indicated 0.89 1.4 41
Inferred 1.11 1.6 56
Total 2.00 1.5 96
Global
Indicated 1.83 1.7 100
Inferred 1.11 1.6 56
Total 2.94 1.7 156

Notes relating to Fountain Head Mineral Resources

  • Due to effects of rounding, the total may not represent the sum of all components.
  • Fountain Head and Tally Ho mineralisation reported utilising a cut-off grade of above 0.7 g/t Au/t gold, which is consistent with the assumed open cut mining method.

Glencoe Mineral Resources

Table 5:  Glencoe Mineral Resources by Classification reported 28 April 2021 in accordance with the JORC Code (2012)

JORC Classification Oxidation Tonnage (Mt) Au (g/t) Ounces (Koz)
Inferred Oxide 0.5 1.3 20
Transitional 0.3 1.2 11
Fresh 1.3 1.1 48
Total 2.1 1.2 79

Notes relating to Glencoe Mineral Resource

  • Due to effects of rounding, the total may not represent the sum of all components.
  • Glencoe mineralisation reported utilising a cut-off grade of above 0.7 g/t Au/t gold, which is consistent with the assumed open cut mining method. The cut-off grade is also consistent with the Mineral Resource Estimate for Fountain Head.

 

 

PNX Total Mineral Resources

Table 6: Total Mineral Resources (Iron Blow + Mt Bonnie + Fountain Head + Glencoe) by JORC Classification

Tonnage (kt) Zn (t) Pb (t) Cu (t) Ag (Moz) Au (koz)
 Total Contained Metal
9,117 177,200 37,000 10,050 16.2Moz 472.7koz