Mineral Resources, as at 31 December 2019. Reported in Accordance with JORC
| Project Name | Classification | Ore, tonnes | Gold, g/t | Gold, oz (attributable to HGM) |
|---|---|---|---|---|
| MNOGOVERSHINNOYE | Indicated |
7,862,855 |
3.0 |
769,026 |
| Measured + Indicated |
7,862,855 |
3.0 |
769,026 |
|
| Inferred |
6,000,157 |
3.2 |
625,470 |
|
| Total |
13,863,012 |
3.1 |
1,394,496 |
|
| TASEEVSKOYE | Indicated |
25,785,000 |
4.9 |
4,057,587 |
| Inferred |
5,278,000 |
6.1 |
1,030,766 |
|
| Total |
31,063,000 |
5.1 |
5,088,353 |
|
| UNKURTASH | Measured |
21,024,000 |
1.7 |
1,179,836 |
| Indicated |
32,870,000 |
1.8 |
1,860,917 |
|
| Measured + Indicated |
53,894,000 |
1.8 |
3,040,753 |
|
| Inferred |
12,291,000 |
1.7 |
656,004 |
|
| Total |
66,185,000 |
1.7 |
3,696,757 |
|
| NOVOSHIROKINSKOYE* | Measured |
14,143,441 |
4.2 |
1,912,186 |
| Indicated |
3,213,136 |
2.8 |
290,575 |
|
| Measured + Indicated |
17,356,576 |
4.0 |
2,202,761 |
|
| Inferred |
4,462,000 |
2.6 |
371,545 |
|
| Total |
21,818,576 |
3.7 |
2,574,306 |
|
| BELAYA GORA | Measured | 500,000 | 1.0 | 16,000 |
| Indicated |
7,100,000 |
1.2 |
276,000 |
|
| Measured + Indicated |
7,600,000 |
1.2 |
292,000 |
|
| Inferred |
- |
- |
- |
|
| Total |
7,600,000 |
1.2 |
292,000 |
|
| KOLCHANKA | Indicated |
2,700,000 |
1.1 |
96,000 |
| (BELAYA GORA) | Total |
2,700,000 |
1.1 |
96,000 |
| ZAYACHII | Indicated |
400,000 |
1.3 |
17,000 |
| (BELAYA GORA) | Total |
400,000 |
1.3 |
17,000 |
| BLAGODATNOE | Indicated |
19,200,000 |
1.3 |
776,000 |
| Inferred |
49,000 |
0.8 |
1,286 |
|
| Total |
19,249,000 |
1.3 |
776,119 |
|
| KLEN | Indicated |
2,850,000 |
5.8 |
530,809 |
| Inferred |
1,020,000 |
2.9 |
96,452 |
|
| Total |
3,870,000 |
5.0 |
627,261 |
|
| KEKURA | Measured |
580,000 |
11.0 |
205,765 |
| Indicated |
8,720,000 |
8.0 |
2,234,477 |
|
| Measured + Indicated |
9,300,000 |
8.2 |
2,440,242 |
|
| Inferred |
160,000 |
3.1 |
16,075 |
|
| Total |
9,460,000 |
8.1 |
2,456,317 |
|
| LYUBAVINSKOYE | Measured |
1,304,990 |
1.5 |
62,758 |
| Indicated |
9,802,700 |
1.3 |
413,330 |
|
| Measured + Indicated |
11,107,690 |
1.3 |
476,088 |
|
| Inferred |
139,540 |
1.8 |
8,198 |
|
| Total |
11,247,230 |
1.3 |
484,287 |
|
|
VALUNISTY |
Indicated |
8,284,899 |
3.3 |
883,386 |
|
Inferred |
2,689,730 |
2.3 |
196,020 |
|
|
Total |
10,974,629 |
3.1 |
1,079,406 |
|
|
GORNY (KAS) |
Indicated |
562,944 |
3.4 |
62,369 |
|
Inferred |
3,053,305 |
2.4 |
231,757 |
|
|
Total |
3,616,249 |
2.5 |
294,126 |
|
|
ZHILNY (KAS) |
Inferred |
2,330,000 |
3.5 |
261,868 |
|
Total |
2,330,000 |
3.5 |
261,868 |
|
| TOTAL | Measured |
37,552,431 |
2.8 |
3,376,545 |
| Indicated |
129,351,534 |
3.0 |
12,267,476 |
|
| Measured + Indicated |
166,903,965 |
2.9 |
15,644,022 |
|
| Inferred |
37,472,732 |
2.9 |
3,495,441 |
|
| Total |
204,376,697 |
2.9 |
19,139,462 |
Reserves, as at 31 December 2019. Reported in Accordance with JORC
| Project Name | Classification | Ore, tonnes | Gold, g/t | Gold, oz (attributable to HGM) |
|---|---|---|---|---|
| MNOGOVERSHINNOYE | Proven | - | - | - |
| Probable |
8,691,484 |
2.5 |
710,759 |
|
| Proven + Probable |
8,691,484 |
2.5 |
710,759 |
|
| NOVOSHIROKINSKOYE* | Proven |
12,940,989 |
3.1 |
1,267,042 |
| Probable |
2,456,229 |
2.2 |
169,054 |
|
| Proven + Probable |
15,397,218 |
2.9 |
1,436,096 |
|
| BELAYA GORA | Proven | 260,000 | 1.3 | 11,000 |
| Probable |
8,989,812 |
1.5 |
433,744 |
|
| Proven + Probable |
8,989,812 |
1.5 |
433,744 |
|
| KOLCHANKA | Probable | 2,110,000 | 1.1 | 76,000 |
| (BELAYA GORA) | Proven + Probable | 2,110,000 | 1.1 | 76,000 |
| BLAGODATNOE | Proven | - | - | - |
| Probable |
10,200,000 |
1.4 |
472,000 |
|
| Proven + Probable |
10,200,000 |
1.4 |
472,000 |
|
| KEKURA | Proven | 650 000 | 9.2 | 192 904 |
| Probable | 8 230 000 | 6.9 | 1 816 517 | |
| Proven + Probable | 8 880 000 | 7.0 | 2 009 422 | |
|
VALUNISTY |
Probable |
2,546,669 |
5.5 |
451,092 |
|
Proven + Probable |
2,546,669 |
5.5 |
451,092 |
|
|
GORNY (KAS) |
Proven |
31,621 |
5.4 |
5,468 |
|
Probable |
118,580 |
3.8 |
14,446 |
|
|
Proven + Probable |
150,201 |
4.1 |
19,914 |
|
| TOTAL | Proven |
13,882,610 |
3.3 |
1,476,414 |
| Probable |
38,322,962 |
3.2 |
3,890,868 |
|
| Proven + Probable |
52,205,572 |
3.2 |
5,367,282 |
*The Company’s interest in Novoshirokinskoye is 99,2%
Notes:
Resources:
MNV, Taseevskoye, Belaya Gora, Blagodatnoe, Unkurtash, Klen and Lyubavinskoye resource estimations do not include a silver assessment.
MNV, Novoshirokinskoye, Belaya Gora, Blagodatnoe, Kekura, Valunisty and Gorny Mineral Resources are inclusive of Mineable Reserves.
MNV Mineral Resources are undiluted and based upon a gold price of US$1,250 per ounce. Resources were evaluated with specific cutoff grade > 0.7 g/t for open cut mining, and > 1.0 g/t for underground mining
Taseevskoe Mineral Resources are undiluted and based upon a gold price of US$ 1,000 per ounce. Resources were evaluated with specific cutoff grade > 1.8 g/t.
Unkurtash Mineral Resources are undiluted and based upon a gold price of US$1,600 per ounce. Resources were evaluated with specific cutoff grade > 0.85 g/t.
Belaya Gora, Kolchanka and Zayachii Mineral Resources are undiluted and based upon a gold price of US$1,500 per ounce. Resources were evaluated with specific cutoff grade:
– for Belaya Gora > 0.4g/t;
– for Kolchanka > 0.72g/t;
– for Zayachii > 0.59g/t.
Blagodatnoye Mineral Resources are undiluted and based upon a gold price of US$1,500 per ounce. Resources were evaluated with specific cutoff grade > 0.5g/t.
Klen Mineral Resources were evaluated with specific cutoff grade > 1.0 g/t.
Kekura Mineral Resources are diluted and based upon a gold price of US$1,500 per ounce. Resources were evaluated with specific cutoff grade > 1.2 g/t for open cut; 1.7 g/t for Vertical zones and 2.8 g/t for Horizontal zones for underground mining.
Lyubavinskoye Mineral Resources were evaluated with specific cutoff grade > 0.5 g/t.
Valunisty and Gorny Mineral Resources were evaluated with specific cutoff grade > 0.5 g/t.
Zhilny Mineral Resources were evaluated with specific Ag cutoff grade > 40 g/t.
Resource estimate for Taseevskoye deposit was confirmed by Micromine Consulting, 2008.
Resource estimates for MNV were confirmed by Micon International Co. LTD, 2018 and 2019.
Resource estimate for Blagodatnoye was confirmed by SRK Consulting, 2017.
Resource estimate for Belaya Gora was reconfirmed by SRK Consulting, 2019.
Resource estimate for Kolchanka and Zayachii was confirmed by SRK Consulting, 2019.
Resource estimate for Novoshirokinskoye was confirmed by Wardell Armstrong International (WAI), 2017.
Resource estimate for Lyubavinskoye was confirmed by IMC Montan, 2012.
Resource estimate for Unkurtash was reconfirmed by IMC Montan, 2013.
Resource estimate for Klen was confirmed by Micon International, 2012.
Resource estimate for Kekura was reconfirmed by SRK Consulting, 2017.
Resource estimate for Valunisty, Gorny and Zhilny was reconfirmed by CSA Global PTY, 2018.
Highland Gold internal gold-equivalent resource and reserve estimates are based on the following data:
Novo – 2017 WAI JORC-compliant MRE and ORE, conversion coefficients calculated using WAI 2017 metal prices and recovery parameters. Au Eq. (g/t) = Au(g/t)+0,017096Ag(g/t)+0,559710Pb(%) +0.538668Zn(%).
Valunisty, Gorny and Zhilny – 2018 CSA Global JORC-compliant MRE and ORE, conversion coefficient calculated using CSA 2018 metal prices and recovery parameters:
Valunisty Au Eq. (g/t) = Au (g/t) + 0.01011*Ag (g/t)
Gorny Au Eq. (g/t) = Au (g/t) + 0.01032*Ag (g/t)
Zhilny Au Eq. (g/t) = Au (g/t) + 0.01196*Ag (g/t)
Mineral resources at MNV, Belaya Gora, Novo, Valunisty, Gorny and Zhilny have been estimated in accordance with JORC guidelines and include adjustments that have been made to reconcile the resources with annual production.
Reserves:
- MNV, Belaya Gora, Kolchanka, Blagodatnoye and Kekura reserves estimates do not include a silver assessment.
- Novo reserves are calculated for Au equivalent and include Pb, Zn and Ag assessment.
- Valunisty and Gorny reserves are calculated for Au equivalent and include Ag assessment.
- MNV Mineable Reserves are diluted and based upon a gold price of US$ 1250 per ounce and marginal cut-off 1.0 g/t for underground mining (1.2 g/t for the Northern ore body) and 0.7 g/t for open cut.
- Novo Mineable Reserves are diluted and based upon a gold price of US$ 1279.2 per ounce and marginal cut-off 1.6 % Pb Eq.
- Belaya Gora Mineable Reserves are based upon a gold price of US$ 1200 per ounce and marginal cut-offs in between 0.4 and 2.05 g/t .
- Blagodatnoye Mineable Reserves are based upon a gold price of US$ 1200 per ounce and marginal cut-off 0.77 g/t .
- Kekura Mineable Reserves are diluted and based upon a gold price of US$ 1150 per ounce and marginal cut-off 1.6 g/t for open cut; 2 g/t for Vertical zones and 3 g/t for Horizontal zones for underground mining.
- Valunisty and Gorny Mineable Reserves are diluted and based upon a gold price of US$ 1250 per ounce and marginal cut-offs 1.49 g/t AuEq (Valunisty) and 1.0 g/t AuEq (Gorny) for open pit.
- Mineable reserves at MNV, Novo, Belaya Gora, Valunisty and Gorny have been estimated in accordance with JORC guidelines and include adjustments that have been made to reconcile the reserves with annual production.