Pulacayo Project Feasibility Study - Apogee Silver

Pulacayo 1 000 t/d Phase I Feasibility Study - NI 43-101 Technical Report
090644-3-0000-20-IFI-100
Oxide and Sulphide NSR Values
Ore and Waste Mining Cost
Oxide Process Cost
Sulphide Process Cost
General/Administration
Extra Out of Pit Haulage
Pit Slopes
From above Calculations
1.80 USD/ton mined
19.00 USD/ton processed
9.10 USD/ton processed
2.50 USD/ton processed
1.60 USD/ton processed
42 degree average
In addition to the open pit resource estimate, mineralization below the EL 4,159 m level (top
of crown pillar) was quantified at the 58 USD/ton NSR cut-off value described above to define
underground sulphide resources.
Statement of Mineral Resource Estimate
Block grade, block density and block volume parameters for the Pulacayo deposit were
estimated using methods described in preceding sections of this report. Subsequent
application of resource category parameters and pit optimization parameters set out above
resulted in the mineral resource estimate statement presented below in Table 14.6. Results
are in accordance with Canadian Institute of Mining, Metallurgy and Petroleum Standards on
Mineral Resources and Reserves: Definitions and Guidelines (the CIM Standards) as well as
disclosure requirements of National Instrument 43-101.
Table 14.7 presents a re-statement of the underground resource calculated on the basis of
uncapped drill core assay composites and shows an increase of approximately 22% in
contained Inferred category Ag ounces and 10% in contained Indicated category Ag ounces
at the USD 58 NSR cut-off value. Open pit resources remained essentially unchanged
between capped and uncapped drill core assay composite methodologies. The relationship
between deposit silver grade and tonnage at various cutoff values is presented in sensitivity
charts for blocks within the sulphide zone (Figure 14.19) and within the oxide zone (Figure
14.20).
Figure 14.18: Isometric View of Whittle Pit Shell Developed by P&E – View to Nw
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