43-101 2008 Technical Report On The La Fortuna Project, Durango ...
43-101 2008 Technical Report On The La Fortuna Project, Durango ...
43-101 2008 Technical Report On The La Fortuna Project, Durango ...
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Table 13. Comparison of Howe 2003 and Howe <strong>2008</strong> Reserve Estimates<br />
RESERVE<br />
ESTIMATE<br />
2003<br />
GOLD<br />
PRICE<br />
CUT-OFF PROVEN & PROBABLE RESERVES<br />
GRADE<br />
(g/t) TONNES (‘000) GRADE (g/t)<br />
MINEABLE OUNCES<br />
(‘000)<br />
Howe 2003 $325 0.27 17,656 0.88 497<br />
Howe 2003 $350 0.26 20,878 0.82 548<br />
Howe 2003 $375 0.25 24,238 0.77 597<br />
RESERVE<br />
ESTIMATE<br />
<strong>2008</strong><br />
GOLD<br />
PRICE<br />
CUT-OFF PROVEN & PROBABLE RESERVES<br />
GRADE<br />
(g/t) TONNES (‘000) GRADE (g/t)<br />
MINEABLE OUNCES<br />
(‘000)<br />
Howe <strong>2008</strong> $625 0.15 46,800 0.50 752<br />
2003 gold<br />
price<br />
Change in-pit tonnes from<br />
Howe 2003 to Howe <strong>2008</strong><br />
reserve estimate<br />
Change in average gold<br />
grade from Howe 2003 to<br />
Howe <strong>2008</strong> reserve estimate<br />
Change in mineable ounces<br />
from Howe 2003 to Howe<br />
<strong>2008</strong> reserve estimate<br />
$325 165% -<strong>43</strong>% 51%<br />
$350 124% -39% 37%<br />
$375 90% -35% 26%<br />
It is clear that the increase in gold price itself significantly increases the estimated mineable gold ounces<br />
and the amount of in-pit tonnes.<br />
47