The estimates of ore reserves and mineral resources are shown as at 31 December 2021, unless otherwise stated. Mineral resources that are reported include those mineral resources that have been modified to produce ore reserves. All tonnage and grade information has been rounded to reflect the relative uncertainty in the estimates; there may therefore be small differences. The prices used for the reserves calculation were: Au Price: US$1,800 per ounce and Ag Price: US$26.0 per ounce.
Attributable metal reserves as at 31 December 2022
| Reserve category | Proved and probable (t) | Ag (g/t) | Au (g/t) | Ag (moz) | Au (koz) | Ag Eq (moz) |
|---|---|---|---|---|---|---|
| OPERATIONS1 | ||||||
| Inmaculada | ||||||
| Proved | 1,150,208 | 178 | 4.1 | 6.6 | 152.2 | 18.0 |
| Probable | 4,061,192 | 149 | 3.5 | 19.4 | 456.6 | 53.7 |
| Total | 5,211,400 | 155 | 3.6 | 26.0 | 608.8 | 71.7 |
| Pallancata | ||||||
| Proved | 260,868 | 236 | 1.1 | 2.0 | 9.0 | 2.7 |
| Probable | 83,149 | 199 | 1.2 | 0.5 | 3.2 | 0.8 |
| Total | 344,017 | 227 | 1.1 | 2.5 | 12.1 | 3.4 |
| San Jose | ||||||
| Proved | 261,412 | 337 | 5.9 | 2.8 | 50.0 | 6.6 |
| Probable | 218,141 | 349 | 6.9 | 2.4 | 48.2 | 6.0 |
| Total | 479,553 | 341 | 6.4 | 5.3 | 98.2 | 12.6 |
| Mara Rosa | ||||||
| Proved | 11,791,000 | - | 1.2 | - | 455.8 | 34.2 |
| Probable | 12,014,000 | - | 1.2 | - | 446.2 | 33.5 |
| Total | 23,805,000 | - | 1.2 | - | 902.0 | 67.6 |
| GRAND TOTAL | ||||||
| Proved | 13,463,488 | 26 | 1.5 | 11.4 | 666.9 | 61.4 |
| Probable | 16,376,482 | 43 | 1.8 | 22.4 | 954.3 | 94.0 |
| Total | 29,839,970 | 35 | 1.7 | 33.8 | 1621.2 | 155.4 |
Note: Where reserves are attributable to a joint venture partner, reserve figures reflect the Company’s ownership only. Includes discounts for ore loss and dilution.
1 Operations were audited by P&E Consulting
Attributable metal resources as at 31 December 2022
| Resource category | Tonnes(t) | Ag(g/t) | Au(g/t) | Au Eq(g/t) | Ag(moz) | Au(koz) | Ag Eq (m0z) |
|---|---|---|---|---|---|---|---|
| OPERATIONS | |||||||
| Inmaculada | |||||||
| Measured | 1,942,000 | 184 | 4.39 | 514 | 11.5 | 274.2 | 32.1 |
| Indicated | 5,651,000 | 158 | 3.79 | 442 | 28.6 | 688.2 | 80.2 |
| Total | 7,593,000 | 164 | 3.94 | 460 | 40.1 | 962.3 | 112.3 |
| Inferred | 11,272,000 | 96 | 2.49 | 283 | 34.9 | 902.2 | 102.5 |
| Pallancata | |||||||
| Measured | 1,409,000 | 296 | 1.36 | 398 | 13.4 | 61.5 | 18.0 |
| Indicated | 706,000 | 238 | 1.11 | 321 | 5.4 | 25.1 | 7.3 |
| Total | 2,115,000 | 277 | 1.27 | 372 | 18.8 | 86.6 | 25.3 |
| Inferred | 3,702,000 | 452 | 1.70 | 579 | 53.8 | 202.7 | 69.0 |
| San Jose | |||||||
| Measured | 701,760 | 483 | 8.07 | 1,088 | 10.9 | 182.0 | 24.6 |
| Indicated | 467,160 | 386 | 6.66 | 885 | 5.8 | 100.0 | 13.3 |
| Total | 1,168,920 | 444 | 7.50 | 1,007 | 16.7 | 282.0 | 37.9 |
| Inferred | 1,051,110 | 404 | 5.99 | 854 | 13.7 | 202.5 | 28.8 |
| Mara Rosa | |||||||
| Measured | 13,600,000 | - | 1.20 | 90 | - | 510.0 | 38.3 |
| Indicated | 18,700,000 | - | 1.10 | 83 | - | 640.0 | 48.0 |
| Total | 32,300,000 | - | 1.10 | 83 | - | 1,150.0 | 86.3 |
| Inferred | 100,000 | - | 0.52 | 39 | - | 1.7 | 0.1 |
| GROWTH PROJECTS | |||||||
| Crespo | |||||||
| Measured | 5,211,000 | 47 | 0.47 | 82 | 7.9 | 78.6 | 13.8 |
| Indicated | 17,298,000 | 38 | 0.40 | 68 | 20.9 | 222.5 | 37.6 |
| Total | 22,509,000 | 40 | 0.42 | 71 | 28.8 | 301.0 | 51.4 |
| Inferred | 775,000 | 46 | 0.57 | 88 | 1.1 | 14.2 | 2.2 |
| Azuca | |||||||
| Measured | 191,000 | 244 | 0.77 | 302 | 1.5 | 4.7 | 1.9 |
| Indicated | 6,859,000 | 187 | 0.77 | 244 | 41.2 | 168.8 | 53.8 |
| Total | 7,050,000 | 188 | 0.77 | 246 | 42.7 | 173.5 | 55.7 |
| Inferred | 6,496,000 | 170 | 0.89 | 237 | 37.9 | 199.5 | 52.9 |
| Volcan | |||||||
| Measured | 123,979,000 | - | 0.700 | 53 | - | 2,792.0 | 209.4 |
| Indicated | 339,274,000 | - | 0.643 | 48 | - | 7,013.0 | 526.0 |
| Total | 463,253,000 | - | 0.658 | 49 | - | 9,804.0 | 735.3 |
| Inferred | 75,018,000 | - | 0.516 | 39 | - | 1,246.0 | 93.5 |
| Arcata | |||||||
| Measured | 834,000 | 438 | 1.35 | 539 | 11.7 | 36.1 | 14.4 |
| Indicated | 1,304,000 | 411 | 1.36 | 512 | 17.2 | 56.9 | 21.5 |
| Total | 2,138,000 | 421 | 1.35 | 523 | 29.0 | 93.0 | 35.9 |
| Inferred | 3,533,000 | 371 | 1.26 | 465 | 42.1 | 142.6 | 52.8 |
| GRAND TOTAL | |||||||
| Measured | 147,867,760 | 12 | 0.83 | 74 | 57.0 | 3,939.1 | 352.4 |
| Indicated | 390,259,160 | 9 | 0.71 | 63 | 119.2 | 8,914.4 | 787.7 |
| Total | 538,126,920 | 10 | 0.74 | 66 | 176.1 | 12,852.5 | 1,140.1 |
| Inferred | 102,397,110 | 56 | 0.88 | 122 | 183.4 | 2,911.4 | 401.8 |
- Prices used for resources calculation: Au: $1,800/oz and Ag: $26.0/oz and Ag/Au ratio of 75x.
- Tables represents 100 % of the Mineral Resource. Resources are inclusive of Reserves.
| Ag equivalent content (million ounces) | Category | % attributable December 2022 | December 2021 Att.1 | December 2022 Att.1 | Net difference | % change |
|---|---|---|---|---|---|---|
| Inmaculada | Resource | 100% | 235.4 | 214.8 | (20.6) | (8.7%) |
| Reserve | 870 | 717 |
(15.3) |
(17.6%) | ||
| Pallancata | Resource | 100% | 45.2 | 94.3 | 49.0 | 108.4% |
| Reserve | 9.2 | 3.4 | (5.7) | (62.6%) | ||
| San Jose | Resource | 51% | 64.9 | 66.7 | 1.8 | 2.8% |
| Reserve | 18.8 | 12.6 | (6.2) | (33.0%) | ||
| Mara Rosa | Resource | 100% | - | 86.4 | 86.4 | - |
| Reserve | - | 67.6 | 67.6 | - | ||
| Crespo | Resource | 100% | 53.6 | 53.6 | - | - |
| Reserve | - | - | - | - | ||
| Azuca | Resource | 100% | 108.6 | 108.6 | - | - |
| Reserve | - | - | - | - | ||
| Volcan | Resource | 100% | 716.2 | 828.8 | 112.6 | 15.7% |
| Reserve | - | - | - | - | ||
| Arcata | Resource | 100% | 88.7 | 88.7 | - | - |
| Reserve | - | - | - | - | ||
| Total | Resource | 1,312.6 | 1,541.9 | 229.3 | 17.5% | |
| Reserve | 115.0 | 155.4 | 40.4 | 35.1% |
0
- Attributable reserves and resources based on the Group’s percentage ownership of its joint venture projects.