Classification | Tonnes (Mt) | Grade eU (kg/t) | Grade eU3O8 (kg/t) | Metal eU3O8 (t) | Metal eU3O8 (Mlb) |
---|---|---|---|---|---|
M&M | |||||
Measured | 3.00 | 1.50 | 1.77 | 5,257 | 11.60 |
Indicated | 14.00 | 1.19 | 1.41 | 19,726 | 43.50 |
Inferred | 3.10 | 0.96 | 1.14 | 3,477 | 7.70 |
Miriam | |||||
Measured | 10.70 | 0.67 | 0.79 | 8,384 | 18.50 |
Indicated | 0.50 | 0.46 | 0.54 | 281 | 0.60 |
MSNE | |||||
Indicated | 5.05 | 1.37 | 1.61 | 8,111 | 17.90 |
Inferred | 0.10 | 1.14 | 1.34 | 131 | 0.30 |
Maryvonne | |||||
Indicated | 1.23 | 1.52 | 1.79 | 2,195 | 4.80 |
Inferred | 0.42 | 1.41 | 1.66 | 703 | 1.60 |
MSCE | |||||
Inferred | 1.16 | 1.15 | 1.35 | 1,571 | 3.50 |
MSEE | |||||
Inferred | 1.95 | 1.31 | 1.54 | 3,003 | 6.60 |
TOTAL MEASURED | 13.70 | 0.85 | 1.00 | 13,641 | 30.10 |
TOTAL INDICATED | 20.78 | 1.24 | 1.46 | 30,313 | 66.80 |
TOTAL INFERRED | 6.73 | 1.12 | 1.33 | 8,885 | 19.60 |
Total Reserves and Resources
Summary of the Madaouela Uranium Mineral Resources, effective date July 01, 2022
Summary of the Madaouela Molybdenum Mineral Resources, July 01, 2022
Classification | Tonnes (Mt) | Grade Mo (ppm) | Metal Mo (Tonnes) |
---|---|---|---|
M&M | |||
Indicated | 1.90 | 486 | 914 |
Inferred | 4.90 | 388 | 1,897 |
Miriam | |||
Measured | 10.70 | 101 | 1,076 |
Indicated | 0.50 | 38 | 20 |
TOTAL MEASURED | 10.70 | 101 | 1,076 |
TOTAL INDICATED | 2.40 | 393 | 934 |
TOTAL INFERRED | 4.90 | 388 | 1,897 |
In reporting the Mineral Resource statement, SRK notes the following:
1. Mineral Resources have an effective date of July 01, 2022.
2. Mineral Resources are classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (November 29, 2019).
3. Mineral Resources are reported here are Inclusive of Mineral Reserves and are reported as undiluted, with no mining recovery applied in the Mineral Resource statement.
4. Technical and economic assumptions were agreed between SRK and GoviEx for mining factors (mining and processing costs) are processing factors (metal recovery, processing costs), which were used for optimisation, and which were developed to a Feasibility Study level of detail and accuracy.
5. SRK considers there to be reasonable prospects for economic extraction by constraining the resources within an optimized pit shell shape constructed assuming a Uranium price of US$70/lb U3O8.
6. Mineral Resources are reported within volumes defined by the Optimized pit shell above a eU cut-off of 0.22kg/t.
7. For the underground resources at MM, MSNE-MYVE, MSCE and MSEE, SRK considers there to be reasonable prospects for economic extraction by constraining the resources within an optimized underground mining shape constructed assuming a Uranium price of US$70/lb U3O8.
8. Mineral Resources are reported within volumes defined by the Optimized underground shell above a eU cut-off 0.40kg/t. The tonnage reported as Molybdenum resource is entirely within the volume reported as Uranium resource, thus the tonnages are not additive.
9. Tonnages are reported in metric units, grades in kilograms-per-tonne (kg/t) and parts-per-million (ppm), and the contained metal in Tonnes and Million pounds (M lbs). Tonnages, grades, and contained metal totals are rounded appropriately.
Summary of the Madaouela Uranium Mineral Reserves for the Miriam open pit deposit
Classification | Quantity (kt) | U Grade (kg/t) | Mo Grade (ppm) | U Contained (t) | U3O8 Contained (Mlb) | Mo Contained (t) |
---|---|---|---|---|---|---|
Open Pit Miriam | ||||||
Proven | 5,344 | 0.88 | 124.30 | 4,696 | 12.21 | 664 |
Probable | 55 | 0.40 | 0.00 | 22 | 0.06 | 0 |
Sub-Total | 5,399 | 0.87 | 123.10 | 4,718 | 12.27 | 664 |
Notes:
1. All figures are rounded to reflect the relative accuracy of the estimate and have been used to derive sub-totals, totals and weighted averages. Such estimates inherently involve a degree of rounding and consequently introduce a margin of error. Where these occur, SRK does not consider them to be material.
2. The Concession is wholly owned by and exploration is operated by GoviEx.
3. The standard adopted in respect of the reporting of Mineral Reserves for the Project, following the completion of required technical studies, is in accordance with the NI 43-101 guidelines and the 2014 CIM Definition Standards, and have an Effective Date of 1 July 2022.
4. The Open Pit Mineral Reserves are reported with engineered pit designs using a cut-off grade of 0.28kg/t U, which is based on a selling price of US$55/lb U3O8, operating costs of US$33.48/t feed, recovery of 94.5%, royalty of 9%, and transportation costs of 0.97/lb U3O8.
5. The Open Pit Mineral Reserves are derived from a regularized block model of 7.5 m x 7.5 m x 0.75 m and include an additional 2% dilution and no mining loss.
6. The qualified person for the open pit design is Colleen MacDougall, PEng employee of SRK Consulting (Canada) Inc.
7. Rob Bowell and Guy Dishaw of SRK both appropriate "independent qualified person" as defined in National Instrument 43-101 have completed site inspections of the deposit.
8. The qualified person for the FS Reserve Statement is Rob Bowell PhD, C.Chem. C Geol, employee of SRK Consulting (UK) Ltd.
Mineral Reserve Estimate for the Underground Deposits, Madaouela Project, Niger, July 01, 2022
Classification | Quantity (kt) | U Grade (kg/t) | Mo Grade (ppm) | U Contained (t) | U3O8 Contained (Mlb) | Mo Contained (t) |
---|---|---|---|---|---|---|
Underground M&M | ||||||
Proven | 3,149 | 1.06 | 3,353 | 8.72 | ||
Probable | 10,602 | 0.81 | 79 | 8,629 | 22.43 | 834 |
Sub-Total | 13,750 | 0.87 | 61 | 11,981 | 31.15 | 834 |
Underground MSNE+Maryvonne | ||||||
Proven | ||||||
Probable | 6,652 | 0.79 | 5,273 | 13.71 | ||
Sub-Total | 6.652 | 0.79 | 5,273 | 13.71 | ||
Total | ||||||
Proven | 3,149 | 1.06 | 3,353 | 8.72 | ||
Probable | 17,254 | 0.81 | 48 | 13,902 | 36.14 | 834 |
Total | 20,403 | 0.85 | 41 | 17,255 | 44.86 | 834 |
Notes:
1. All figures are rounded to reflect the relative accuracy of the estimate and have been used to derive sub-totals, totals and weigted averages. Such estimates inherently involve a degree of rounding and consequently introduce a margin of error. Where these occur, SRK does not consider them to be material.
2. The Concession is wholly owned by and exploration is operated by GoviEx.
3. The standard adopted in respect of the reporting of Mineral Reserves for the Project, folllowing the completion of required technical studies, is in accordance with the NI 43-101 guidelines and the 2014 CIM Definition Standards, and have an Effective Date of July 01, 2022.
4. The Underground Mineral Reserves are reported using a variable cut-off grade ranging between 0.5 and 0.6 kg U/t to account for the effect of ore sorting to reduce the dilution associated with varying seam thicknesses in different underground panels. This is based on a selling price of US$55/lb U3O8, operating costs of US$29.28/t feed, recovery of 94.5% and transportation costs of 0.97/lb U3O8.
5. The qualified person for the FS Reserve Statement is Rob Bowell PhD, C.Chem. C Geol employee of SRK Consulting (UK) Ltd.
Muntanga Mineral Resource Estimate as at November 20, 2017
Deposit | Category | Tonnes (Mt) | U3O8 Grade (ppm) | U3O8 (Mlb) |
---|---|---|---|---|
Muntanga2 | Measured | 1.9 | 481 | 2.0 |
Indicated | 8.4 | 314 | 5.8 | |
Inferred | 7.2 | 206 | 3.3 | |
Dibwe2 | Inferred | 17.0 | 239 | 9.0 |
Dibwe East2 | Inferred | 43.1 | 304 | 28.9 |
Gwabe3 | Measured | 1.3 | 237 | 0.7 |
Indicated | 3.6 | 313 | 2.5 | |
Inferred | 0.7 | 178 | 0.3 | |
Njame3 | Measured | 2.7 | 350 | 2.1 |
Indicated | 3.7 | 252 | 2.1 | |
Inferred | 2.1 | 225 | 1.1 | |
Njame South3 | Inferred | 4.4 | 250 | 2.4 |
Sub-total Measured | 5.9 | 366 | 4.8 | |
Sub-total Indicated | 15.7 | 299 | 10.4 | |
Measured and Indicated | 21.6 | 317.5 | 15.1 | |
Inferred | 74.6 | 273.0 | 44.9 |
Notes:
- Mineral Resources have not been constrained by pit shells, however, almost all of the mineralisation occurs within 125 m of surface with uranium grades which are, in general, considered to have reasonable prospects for eventual economic extraction by open pit mining.
- The cut-off grade used for reporting the Mineral Resource is 100 ppm U3O8, which is applied directly to block model cells.
- No U3O8 ppm cut-off is applied to block model cells for reporting the Mineral Resource. However, the outer limits block model was constrained within a 100 ppm U3O8 wireframe used for geological modelling.
Falea Mineral Resources as at October 26, 2015
Category | Tonnes (MT) | U3O8 (%) | Cu (%) | Ag (g/t) | U3O8 (Mlb) | Cu (Mlb) | Ag (Moz) |
---|---|---|---|---|---|---|---|
Indicated | 6.88 | 0.115 | 0.161 | 72.8 | 17.4 | 24.4 | 16.11 |
Inferred | 8.78 | 0.069 | 0.200 | 17.3 | 13.4 | 38.7 | 4.9 |
Notes:
- CIM definitions were followed for classification of Mineral Resources
- Reported above a cut-off grade of 0.03% U308, based on a uranium price of US$75/lb
- Bulk density is 2.65 t/m3
- Numbers may not add due to rounding
The company’s mineral resources as at October 26, 2015 are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards - For Mineral Resources and Mineral Reserves" in accordance with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects" (the Instrument). Mineral reserve and mineral resource estimates reflect the company's reasonable expectation that all necessary permits and approvals will be obtained and maintained.
Mineral resources that are not mineral reserves do not have to demonstrate
The Mineral Resource Statement was prepared Mark Mathisen, C.P.G., Senior Geologist, of Roscoe Postle Associates Inc., who is a Qualified Persons as defined by the CIM Code.
Source: Falea NI 43-101 RPA Report: October 26, 2015.