During 2020, the Company significantly increased consolidated Mineral Resources through the generation of an updated Mineral Resource Estimate on the Evolución Project in Zacatecas and the acquisition of the Kilgore and Oakley Projects in Idaho. The Company’s consolidated Mineral Resources are summarized as follows as at March 31, 2021.
|GRADE||CONTAINED METAL (‘000S)|
|Silver-Lead-Zinc Indicated Mineral Resources|
|Silver-Lead-Zinc Inferred Mineral Resources|
|Gold Indicated Mineral Resources|
|Gold Inferred Mineral Resources|
(1) Estimated at a cut-off grade of 275 g/t AgEq and silver, lead and zinc prices of $24.00, $0.86 and $1.10, and assuming metal recoveries of 91% for silver, 80% for lead and 80% zinc. AgEq calculated using the following formula, AgEq = Ag(g/t) + 21.60*Pb(%) + 27.63*Zn(%).
(2) Estimated at a cut-off grade of 90 g/t AgEq and silver, gold, lead and zinc prices of $17.00/oz, $1,550/oz, $0.90/lb and $1.15/lb, and assuming metal recoveries of 76% for silver, 20% for gold, 90% for lead and 88% zinc. AgEq calculated using the following formula, AgEq = Ag(g/t) + 42.99*Pb(%) + 23.99*Zn(%).
(3) Estimated at a cut-off grade of 0.21 g/t Au, gold price of $1300/oz, and assuming metal recoveries of 80%.
(4) Estimated at a cut-off grade of 0.31 g/t Au, gold price of $1200/oz, and assuming metal recoveries of 70%.