Florence Copper - Reserves & Resources

Florence Copper Reserves and Resources All Oxide in Bedrock (all Oxide in Bedrock)

Category (at 0.05% TCu cut-off) Size
(M Tons)
Grade Recoverable Metal Contained Metal
(%TCu) Cu (B lbs) Cu (B lbs)
Probable Reserves 345 0.36 1.7 2.5
Measured 296 0.35 - 2.1
Indicated 134 0.28 - 0.7
M + I Resources 429 0.33 - 2.8
Inferred 63 0.24 - 0.3
The resource and reserve estimation (effective date Jan 16 2017) was completed by Dan Johnson PE, Vice-President/General Manager for Florence Copper, Inc., and a Qualified Person under National Instrument 43-101. The updated Mineral Reserves are based on engineering performed by SRK Consulting incorporating the measured and indicated resources established in 2010, metallurgical work completed by SGS Inc. and T. McNulty and Associates, process facility designs by M3 Engineering as well as well field designs by Haley and Aldrich Inc. The study was done using a long term metal price of US$3.00/lb for copper. Mineral reserves are contained within the measured and indicated mineral resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability (Under US standards no reserve declaration is possible until a full feasibility study is completed and financing and permits are acquired.)