Reserves & Resources
New Luika Gold Mine
NLGM Reserves
The total reserves position for NLGM as of 31 December 20211 is given below:
| Deposit and classification | Ore tonnes (kt) |
Ore grade (g/t Au) |
Contained Ounces (koz) |
| Ore Reserves – Underground | 2,598 | 3.59 | 300 |
| Ore Reserves – Open Pit | 1,519 | 2.13 | 104 |
| Total Ore Reserve | 4,117 | 3.05 | 404 |
Note: 1. Reserves are reported in accordance with the JORC Code 2012.
NLGM Underground Reserves1,2,3,
| Deposit | Cut-off grade (“COG”) (g/t) |
Ore tonnes (kt) |
Ore grade (g/t Au) |
Contained ounces (koz) |
| Bauhinia Creek (“BC”) | 1.9 | 182 | 6.59 | 39 |
| Luika | 1.6 | 1,843 | 3.25 | 192 |
| Ilunga | 2.0 | 169 | 4.53 | 25 |
| BC North | 1.9 | 185 | 3.03 | 18 |
| BCE Area 1 | 1.9 | 220 | 3.69 | 26 |
| Total Ore Reserve - Underground | 2,598 | 3.59 | 220 |
Note: 1. Proved Reserve is 578kt @ 4.31g/t equivalent to 80koz.
Note: 2. Reserves are reported in accordance with the JORC Code 2012
Note: 3. Reserve estimates assume application of long-hole open-stoping. Economic evaluations are at a gold price of US$1,350 /oz. An assumed gold recovery of 90% has been applied.
NLGM Open Pit Ore Reserves1,2
| Deposit | COG (g/t) |
Ore tonnes (kt) |
Ore grade (g/t Au) |
Contained Ounces (koz) |
| Black Tree Hill | 0.6 | 580 | 2.12 | 40 |
| Elizabeth Hill | 0.6 | 808 | 2.16 | 56 |
| Shamba | 0.7 | 58 | 2.01 | 4 |
| Bauhinia Creek North | 0.6 | 73 | 1.96 | 4 |
| Total Ore Reserve - Open Pit | 1,519 | 2.13 | 104 |
Note: 1. Reserves are reported in accordance with the JORC Code 2012.
Note: 2. Economic evaluations are at a gold price of US$1,350 /oz. An assumed gold recovery of 90% has been applied.
NLGM Mineral Resource Estimate – COG 1.0 g/t (December 2021)
| Deposit | Measured | Indicated | Inferred | Total Resource | ||||||||
| Tonnes (kt) | Grade (Au_g/t) |
Ounces (koz) | Tonnes (kt) | Grade (Au_g/t) |
Ounces (koz) | Tonnes (kt) | Grade (Au_g/t) |
Ounces (koz) | Tonnes (kt) | Grade (Au_g/t) |
Ounces (koz) | |
| Jamhuri | - | - | - | 613 | 1.82 | 36 | 760 | 1.62 | 40 | 1,373 | 1.71 | 74 |
| Shamba | - | - | - | 65 | 2.26 | 5 | 104 | 1.61 | 5 | 169 | 1.86 | 10 |
| Elizabeth Hill | - | - | - | 1,940 | 1.96 | 122 | 2,242 | 1.51 | 109 | 4,182 | 1.72 | 231 |
| Black Tree Hill | - | - | - | 1,255 | 2.00 | 81 | 506 | 1.26 | 20 | 1,761 | 1.79 | 101 |
| Ilunga | 20 | 3.38 | 2 | 549 | 3.93 | 69 | 105 | 3.66 | 12 | 674 | 3.87 | 83 |
| Luika | 192 | 2.96 | 18 | 2,185 | 3.66 | 257 | 137 | 2.04 | 9 | 2,514 | 3.52 | 284 |
| Bauhinia Creek | 209 | 7.25 | 49 | 291 | 2.43 | 23 | 357 | 2.34 | 27 | 857 | 3.57 | 99 |
| Bauhinia Creek East Area 1 | 242 | 4.64 | 36 | 11 | 4.90 | 2 | 26 | 3.95 | 3 | 279 | 4.57 | 41 |
| Bauhinia Creek North | - | - | - | 221 | 3.25 | 23 | 36 | 4.38 | 5 | 257 | 3.41 | 28 |
| Bauhinia Creek East | - | - | - | - | 3.19 | 0 | 1 | 3.12 | 0 | 1 | 3.13 | 0 |
| Luika South | - | - | - | 118 | 3.67 | 14 | 178 | 3.15 | 18 | 296 | 3.35 | 32 |
| Black Tree Hill North | - | - | - | 114 | 1.78 | 7 | 37 | 1.40 | 2 | 151 | 1.69 | 9 |
| Porcupine South | - | - | - | 986 | 2.15 | 68 | 852 | 1.68 | 46 | 1,838 | 1.94 | 114 |
| Grand Total | 663 | 4.94 | 105 | 8,348 | 2.63 | 707 | 5,341 | 1.73 | 296 | 14,352 | 2.40 | 1,108 |
The Singida Project
JORC 2012 Reserve (31 December 2021)
| Deposit | COG (g/t) |
PROBABLE RESERVES | |||
| Ore tonnes (kt) | Ore grade (g/t Au) | Contained Ounces (koz) |
Recoverable Ounces (koz) |
||
| Cornpatch | 0.79 | 134 | 1.88 | 8 | 8 |
| Cornpatch West | 0.78 | 295 | 3.46 | 34 | 29 |
| Gold Tree | 0.74 | 1,342 | 3.40 | 147 | 132 |
| Gustav | 0.78 | 129 | 1.7 | 7 | 6 |
| Jem | 0.74 | 324 | 2.86 | 30 | 27 |
| Kaizer Chief | 0.78 | 142 | 1.65 | 8 | 7 |
| Vivian | 0.74 | 125 | 2.38 | 10 | 9 |
| Grand Total | 0.75 | 2,491 | 3.02 | 242 | 218 |
Mineral Resource Estimate (31 December 2021)
| Deposit | MEASURED | INDICATED | INFERRED | TOTAL RESOURCES | ||||||||
| TONNES | GRADE | OUNCES | TONNES | GRADE | OUNCES | TONNES | GRADE | OUNCES | TONNES | GRADE | OUNCES | |
| (kt) | g/t | (koz) | (kt) | g/t | (koz) | (kt) | g/t | (koz) | (kt) | g/t | (koz) | |
| CORNPATCH | 117 | 2.00 | 8 | 336 | 1.98 | 22 | 517 | 2.36 | 39 | 970 | 2.18 | 69 |
| CORNPATCH WEST | - | - | - | 824 | 2.52 | 67 | 565 | 1.87 | 34 | 1,389 | 2.26 | 101 |
| GOLD TREE | 1,115 | 3.74 | 136 | 1,294 | 2.39 | 100 | 3,274 | 2.02 | 213 | 5,683 | 2.43 | 449 |
| GUSTAV | - | - | - | 148 | 1.49 | 7 | 783 | 1.85 | 47 | 932 | 1.79 | 54 |
| JEM | 376 | 2.99 | 36 | 542 | 2.67 | 46 | 532 | 2.92 | 50 | 1,451 | 2.84 | 132 |
| KAIZER CHIEF | - | - | - | 475 | 1.67 | 25 | 354 | 1.98 | 22 | 828 | 1.80 | 47 |
| VIVIAN | - | - | - | 405 | 2.97 | 38 | 125 | 3.40 | 14 | 529 | 3.07 | 52 |
| TOTAL | 1,608 | 3.39 | 180 | 4,024 | 2.36 | 305 | 6,150 | 2.12 | 419 | 11,782 | 2.39 | 904 |
The West Kenya Project
West Kenya Mineral Resource Estimate
A maiden NI43-101 compliant Inferred Mineral Resource Estimate (MRE) on the Isulu and Bushiangala prospects was announced in 2017. The latest update of the MRE was completed in May 2018:
| Mineral Resource Category | Prospect | COG (Au g/t) |
Tonnes (t) |
Mean Grade (Au g/t) |
Ounces (oz) |
| Inferred | Isulu | 2.0 | 2,527,300 | 13.0 | 1,060,300 |
| Inferred | Bushiangala | 7.0 | 382,400 | 9.9 | 122,000 |
| Total | 2,909,700 | 12.6 | 1,182,300 |