Resources and Reserves

Total Mineral Resources are estimated at: 54.8 Mt @ 2.8 g/t Au for 4.92 Moz of contained gold, comprising:

  • Mount Monger Operation:        28.2 Mt @ 3.56 g/t Au for 3.23 Moz of contained gold
  • Murchison Operation:               10.6 Mt @ 2.01 g/t Au for 0.69 Moz of contained gold
  • Great Southern Project:            16.0 Mt @ 1.95 g/t Au for 1.00 Moz of contained gold

Total Ore Reserves are estimated at: 11.2 Mt @ 2.3 g/t Au for 0.83 Moz of contained gold, comprising:

  • Mount Monger Operation:        3.73 Mt @ 3.24 g/t Au for 0.39 Moz of contained gold
  • Great Southern Project:           7.44 Mt @ 1.85 g/t Au for 0.44 Moz of contained gold

Resource Tabulation

Gold Resources June 2016

  Measured Resources Indicated Resources Inferred Resources Total Resources
Deposit Ore
t
'000s
Grade
g/t Au
Total
Oz Au
'000s
Ore
t
'000s
Grade
g/t Au
Total
Oz Au
'000s
Ore
t
'000s
Grade
g/t Au
Total
Oz Au
'000s
Ore
t
'000s
Grade
g/t Au
Total
Oz Au
'000s
Daisy Milano Complex 38 52.5 64 349 16.3 183 1,092 18.2 638 1,479 18.6 885
Majestic - - - 2,301 2.3 168 712 1.4 32 3,013 2.1 200
Imperial - - - 439 3.8 54 340 1.5 16 779 2.8 70
Fingals - - - 131 2.7 11 1,043 2.3 77 1,174 2.3 88
Costello - - - - - - 111 4.0 14 111 4.0 14
Lorna Doone - - - 686 2.0 44 641 3.5 72 1,327 2.7 116
Magic/Mirror 171 2.7 15 313 3.1 32 1,428 4.6 210 1,913 4.2 257
Wombola Pit - - - 47 3.1 5 20 4.0 3 67 3.3 7
Wombola Dam 13 3.2 1 164 2.6 14 120 3.0 12 297 2.8 27
Hammer & Tap - - - - - - 350 2.4 27 350 2.4 27
Total Mount Monger  222 11.2 80 4,429 3.6 510 5,857 5.8 1,101 10,509 5.0 1,692
Stockpiles 410 1.4 18 - - - - - - 410 1.4 18
Maxwells - - - 891 6.0 172 794 5.3 135 1,685 5.7 307
Santa Area - - - 3,185 2.3 233 1,696 2.5 136 4,882 2.4 369
Cock-eyed Bob 112 3.1 11 606 2.8 54 1,302 3.8 160 2,021 3.5 225
Lucky Bay 13 4.6 2 34 4.8 5 8 7.2 2 55 5.1 9
Rumbles - - - 351 2.2 24 851 2.2 59 1,202 2.2 83
Anomaly A - - - 158 2.7 14 73 1.7 4 231 2.4 18
Randalls Dam - - - 107 2.1 7 6 1.2 0.2 113 2.1 7
Total Randalls 535 1.8 31 5,333 3.0 509 4,730 3.3 496 10,598 3.0 1,037
Main Zone - - - 1,888 2.4 145 26 2.1 2 1,914 2.4 147
Harry's Hill - - - 1,690 2.5 136 367 2.4 29 2,057 2.5 165
French Kiss - - - 1,906 1.9 116 39 2.1 3 1,945 1.9 118
Spice - - - - - - 104 4.0 14 104 4.0 14
Tank/Atriedes - - - 622 1.9 37 60 1.9 4 682 1.9 41
Italia/Argonaut - - - 409 1.4 19 - - - 409 1.4 19
Total Aldiss - - - 6,515 2.2 453 596 2.6 50 7,111 2.2 503
Total Mount Monger Operation 758 4.6 111 16,277 2.8 1,472 11,183 4.6 1,648 28,218 3.6 3,231
Caustons - - - 886 2.2 63 1,765 2.2 123 2,651 2.2 186
Tuckabianna - - - 1,216 1.9 76 1,487 1.8 85 2,703 1.9 161
TMC/Katies - - - 299 2.5 24 316 2.5 25 615 2.5 49
Jasper Queen - - - - - - 175 2.6 15 175 2.6 15
Gilt Edge - - - - - - 96 3.1 9 96 3.1 9
Sherwood - - - - - - 527 2.1 35 527 2.1 35
Little John - - - - - - 1,201 1.8 69 1,201 1.8 69
Total Tuckabianna - - - 2,400 2.1 162 5,567 2.0 361 7,967 2.0 524
Lena - - - 433 2.0 28 839 1.8 49 1,273 1.9 76
Leviticus - - - - - - 42 6.0 8 42 6.0 8
Numbers - - - - - - 278 2.5 22 278 2.5 22
Break of Day - - - - - - 336 1.9 21 336 1.9 21
Total Moyagee - - - 433 2.0 28 1,495 2.1 99 1,928 2.0 127
Hollandaire - - - 473 1.4 21 45 1.1 2 518 1.3 22
Rapier South - - - - - - 171 2.2 12 171 2.2 12
Total Eelya Complex - - - 473 1.4 21 216 1.9 13 689 1.5 34
Total Murchison Operation - - - 3,307 2.0 211 7,278 2.0 474 10,585 2.0 685
Kundip - - - 4,390 3.4 481 4,550 2.1 307 8,940 2.7 789
Trilogy 310 2.4 24 5,750 0.7 136 180 0.8 4 6,240 0.8 165
Queen Sheba - - - - - - 802 1.9 49 802 1.9 49
Total Great Southern Project 310 2.4 24 10,140 1.9 618 5,532 2.0 361 15,982 2.0 1,002
Total Silver Lake 1,068 3.9 135 29,724 2.4 2,301 23,993 3.2 2,482 54,785 2.8 4,919

 

Gold Reserves June 2016

  Proved Reserves Probable Reserves Total Reserves
  Ore
tonnes
'000s
Grade Total
'000s
Ore
tonnes
'000s
Grade Total
'000s
Ore
tonnes
'000s
Grade Total
'000s
Daisy Milano Complex 44 83 12 235 9.5 72 279 9.3 83
Majestic - - - 875 2.7 75 875 2.7 75
Imperial - - - 247 4.0 32 247 4.0 32
Mirror/Magic - - -  417  2.9  39  417  2.9  39
Wombola Pit - - - - - - - - -
Wombola Dam - - - - - - - - -
Total Mount Monger 44 8.3 12 1,774 3.8 218 1,818 3.9 229
Maxwells - - - 350 5.3 59 350 5.3 59
Santa Area - - - 98 2.1 7 98 2.1 7
Rumbles - - - - - - - - -
Cock-eyed Bob - - - - - - - - -
Lucky Bay - - - - - - - - -
Salt Creek Stockpile 410 1.4 18 - - - 410 1.4 18
Total Randalls 410 1.4 18 448 4.6 66 858 3.0 84
Harry's Hill - - -  1,049  2.2  75  1,049  2.2  75
Total Aldiss -  -  -  1,049  2.2 75  1,049  2.2 75
Total Mount Monger Operation 454 2.0 30 3,271 3.4 358 3,725 3.2 388
Kundip - - -  2,810  3.4  307  2,810  3.4  307
Trilogy  310  2.2  22  4,320  0.8  113  4,630  0.9  135
Total Great Southern  310  2.2  22  7,130  1.8  420  7,440  1.8  442
Total Reserve 764 2.1 52  10,401 2.3 779 11,165 2.3 830

Base Metal Resource June 2016

  Measured Resources Indicated Resources Inferred Resources Total Resources
  Ore
tonnes
'000s
Grade Increment Total
'000s
Unit Ore
tonnes
'000s
Grade Increment Total
'000s
Unit Ore
tonnes
'000s
Grade Increment Total
'000s
Unit Ore
tonnes
'000s
Grade Increment Total
'000s
 Unit
Kundip Project                                        
Silver  -    -    g/t Ag   -    oz   4,391  2.5  g/t Ag   353  oz   4,554  2.1  g/t Ag  307  oz   8,945  2.3  g/t Ag   660  oz 
Copper  -    -    % Cu   -    t   4,391  0.4  % Cu   18  t   4,554  0.3  % Cu   14  t   8,945  0.3  % Cu   31  t 
Trilogy Project                                        
Silver  312  41.0  g/t Ag   411  oz   5,747  48.0  g/t Ag   8,869  oz   185  12.0  g/t Ag   71  oz   6,244  46.6  g/t Ag  9,352  oz 
Copper  312  0.3  % Cu   1  t   5,747 1.1  % Cu   63  t   185  0.8  % Cu   1  t   6,244  1.1  % Cu  66  t 
Hollandaire Project                                        
Silver  -    -    -    -    oz   1,925  6.3 g/t Ag   390  oz   728  4.7  g/t Ag   110  oz   2,653  5.9  g/t Ag   500  oz 
Copper  -    -    -    -    t   1,891  2.0 % Cu   38  t   122  1.4  % Cu   2  t   2,013 2.0  % Cu   40  t 
Total Resource                                        
Silver  312 41.0  g/t Ag   411  oz   12,063  24.8  g/t Ag  9,612  oz  5,467  2.8  g/t Ag   489  oz   17,842  18.3  g/t Ag   10,512  oz 
Copper  312  0.3  % Cu  1  t   12,029  1.0  % Cu   119  t   4,861  0.3  % Cu   17  t   17,202  0.8  % Cu   136  t 

Base Metal Reserve June 2016

  Proved Reserves Probable Reserves Total Reserves
  Ore
tonnes
'000s
Grade Increment Total
'000s
Unit Ore
tonnes
'000s
Grade Increment Total
'000s
Unit Ore
tonnes
'000s
Grade Increment Total
'000s
Unit
Kundip Project                              
Silver  -    -    g/t Ag   -    oz   2,810  2.7  g/t Ag   244  oz   2,810  2.7  g/t Ag   244  oz 
Copper  -    -    % Cu   -    t   2,810  0.4  % Cu   11  t   2,810  0.4 % Cu  11  t 
Trilogy Project                              
Silver  310  45.0  g/t Ag   449  oz   4,320  55.1  g/t Ag   7,656  oz   4,630  54.4 g/t Ag  8,105  oz 
Copper  310  0.4  % Cu   1  t   4,320  1.1  % Cu   48  t   4,630  1.1  % Cu   49  t 
Hollandaire Project                              
Silver  -  -  g/t Ag   -  oz   574  8.2  g/t Ag  151  oz   574 8.2 g/t Ag 151  oz 
Copper  -  -  % Cu   -  t   442  3.3  % Cu  15  t   442  3.3  % Cu   15  t 
Total Reserve                              
Silver  310  45.0  g/t Ag   449  oz  7,704  32.5  g/t Ag   8,051  oz   8,014  33.0  g/t Ag   8,500  oz 
Copper  310  0.4  % Cu   1  t  7,572 1.0  % Cu  73  t   7,882  0.9  % Cu  75  t 

The Mineral Resource and Ore Reserves estimates for the Daisy Complex, Lorna Doone, Wombola Dam, Maxwells, Santa Area, Cock-eyed Bob, Lucky Bay, Rumbles, Harry's Hill, Caustons, Tuckabianna, TMC/Katies, Pinnacles and Lena are produced in accordance with the 2012 edition of the Australian Code for Reporting of Mineral Resources and Ore Reserves (the 2012 JORC Code).

All other Mineral Resources and Ore Reserves estimates were first prepared and disclosed under the 2004 edition of the JORC Code and have not been updated since to comply with the 2012 Code on the basis that the information has not materially changed since it was last reported.

The information in these tables that relates to Mineral Resources and Ore Reserves has been extracted from the ASX Announcement entitled "Mineral Resources and Ore Reserves Update" dated 26 August 2016 which is available to view at www.silverlakeresources.com.au