Mineral Inventory
Mineral Resources and Reserves Estimates
The Koné Gold Project currently hosts two gold deposits, the Koné deposit and the Gbongogo Main satellite deposit which is situated approximately 35km north of the Koné deposit.
Koné Deposit – Mineral Resource Estimate
The Mineral Resource Estimate (“MRE”) for the Koné deposit is based on an optimal pit shell generated using cost inputs in line with the January 2024 Updated Feasibility Study (“UFS”) and a gold price of $1,800/oz with an effective date of 19 December 2023.
| Cut-off Grade | Indicated | Inferred | ||||
|---|---|---|---|---|---|---|
| Au g/t | Mt | Au g/t | Au Moz | Mt | Au g/t | Au Moz |
| 0.1 | 286 | 0.50 | 4.60 | 37 | 0.3 | 0.36 |
| 0.2 | 229 | 0.59 | 4.34 | 25 | 0.5 | 0.40 |
| 0.3 | 170 | 0.70 | 3.83 | 16 | 0.6 | 0.31 |
| 0.4 | 130 | 0.81 | 3.39 | 10 | 0.7 | 0.23 |
| 0.5 | 100 | 0.92 | 2.96 | 7.0 | 0.8 | 0.18 |
| 0.6 | 78 | 1.03 | 2.58 | 5.0 | 0.9 | 0.14 |
| 0.7 | 61 | 1.14 | 2.24 | 3.0 | 1.1 | 0.11 |
| 0.8 | 47 | 1.25 | 1.89 | 2.0 | 1.2 | 0.08 |
Notes:
1. The MRE is reported on a 100% basis and is constrained within an optimal pit shell generated at a gold price of US$1,800/ounce.
2. The identified Mineral Resources are classified according to the “CIM” definitions of Indicated Mineral Resources and Inferred Mineral Resources.
3. The MRE was prepared by Mr. Jonathon Abbott of Matrix Resource Consultants of Perth, Australia who is a Qualified Person as defined by NI 43-101.
4. The estimate at 0.2g/t represents the base case or preferred scenario for Koné.
5. Mineral Resources are reported inclusive of Mineral Reserves.
6. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
7. Figures are rounded to reflect the precision of the estimates.
Gbongogo Main Deposit – Mineral Resource Estimate
The MRE for the Gbongogo Main deposit is constrained within an optimal pit shell generated using cost inputs in line with the UFS and at a gold price of $1,800/oz with an effective date of 19 December 2023.
| Cut-off Grade | Indicated | ||
|---|---|---|---|
| Au g/t | Mt | Au g/t | Au Koz |
| 0.2 | 15 | 1.16 | 0.56 |
| 0.3 | 14 | 1.26 | 0.57 |
| 0.4 | 12 | 1.37 | 0.53 |
| 0.5 | 11 | 1.48 | 0.52 |
| 0.6 | 9.9 | 1.59 | 0.51 |
| 0.7 | 8.8 | 1.71 | 0.48 |
| 0.8 | 7.8 | 1.83 | 0.46 |
| 0.9 | 6.9 | 1.96 | 0.43 |
| 1.0 | 6.1 | 2.09 | 0.41 |
Notes:
1. The MRE is reported on a 100% basis and is constrained within an optimal pit shell generated at a gold price of US$1,800/ounce.
2. The identified Mineral Resources are classified according to the “CIM” definitions of Indicated Mineral Resources and Inferred Mineral Resources.
3. The MRE was prepared by Mr. Jonathon Abbott of Matrix Resource Consultants of Perth, Australia who is a Qualified Person as defined by NI 43-101.
4. The estimate at 0.5g/t represents the base case or preferred scenario for Gbongogo Main. 5. Mineral Resources are reported inclusive of Mineral Reserves.
6. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
7. Figures are rounded to reflect the precision of the estimates.
Koné Gold Project - Combined Mineral Resources
The combined resources based on the preferred cut off grades for each deposit are shown below.
| Cut-off Grade | Indicated Mineral Resource | Inferred Mineral Resource | |||||
|---|---|---|---|---|---|---|---|
| Deposit | Au g/t | Mt | Au g/t | Au Moz | Mt | Au g/t | Au Moz |
| Koné | 0.2 | 229 | 0.59 | 4.34 | 25 | 0.5 | 0.40 |
| Gbongogo Main | 0.5 | 11 | 1.48 | 0.52 | - | - | - |
| KGP Total | 240 | 0.63 | 4.87 | 25 | 0.5 | 0.40 | |
Notes:
1. Figures are rounded to reflect the precision of the estimates and include rounding errors.
Koné Gold Project – Mineral Reserve Estimate
The Mineral Reserve estimate was prepared by Carci Mining Consultants Ltd., dated as of January 15, 2024 and is presented below.
| Oxide | Transition | Fresh | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pit | Classification | Mt | Au g/t | Au Moz | Mt | Au g/t | Au Moz | Mt | Au g/t | Au Moz | Mt | Au g/t | Au Moz |
| Koné South | Probable | 9.6 | 0.57 | 0.18 | 7.9 | 0.56 | 0.14 | 141.4 | 0.67 | 3.05 | 159.1 | 0.66 | 3.39 |
| Koné North | Probable | 0.9 | 0.47 | 0.01 | 70.4 | 0.44 | 0.01 | 0.4 | 0.51 | 0.01 | 1.9 | 0.47 | 0.03 |
| Gbongogo Main | Probable | 0.7 | 1.36 | 0.03 | 0.5 | 1.09 | 0.02 | 9.4 | 1.46 | 0.44 | 10.7 | 1.43 | 0.49 |
| Total | Probable | 11.3 | 0.63 | 0.23 | 7.9 | 0.63 | 0.16 | 155.1 | 0.73 | 3.62 | 174.3 | 0.72 | 4.01 |
Notes:
1. The Mineral Reserves are classified according to the “CIM” definitions.
2. All Mineral Reserves were classified as Probable based on the Indicated Mineral Resource
3. The Mineral Reserve cut off grade range from 0.19 g/t to 0.49g/t based on a $1,550/oz gold price
4. The Mineral Reserve statement was prepared by Joeline McGrath of Carci Mining Consultants Ltd., who is a Qualified Person as defined by NI 43-101.
5. The figures in this tables are rounded to reflect the precision of the estimates and may include rounding errors.