Ore Reserves

Tembang Gold-Silver Project -  Ore Reserve Statement at 31 December 2017

The Company’s Ore Reserve statement is in compliance with the JORC Code (2012 Edition) and was published on 28 April 2017. There have been no material changes to the Ore Reserve estimates for open pits since the date of publication, excepting depletion reported below. There has been some minor design changes for the Belinau Underground mine and depletion reported below.

The Ore Reserve is based on the Mineral Resource estimates as of 31 December 2017 using a gold price of US$1,250 per ounce and a silver price of US$15 per ounce.

Deposit

Ore Reserve Category

Tonnes

(Mt)

Au (g/t)

Ag (g/t)

Au (Moz)

Ag (Moz)

Belinau Undergound

Proved

0.016

8.16

63.4

0.004

0.033

Probable

0.357

3.15

21.8

0.036

0.251

Total

0.373

3.36

23.6

0.040

0.283

TOTAL UNDERGROUND 

 

Proved

0.016

8.16

63.4

0.040

0.033

Probable

0.357

3.15

21.8

0.036

0.251

TOTAL

0.373

3.36

23.6

0.040

0.283

Berenai Open Pit

Proved

Probable

0.087

2.91

11.4

0.008

0.032

Total

0.087

2.91

11.4

0.008

0.032

Asmar Open Pit

Proved

Probable

0.644

1.60

29.2

0.034

0.603

Total

0.644

1.60

29.2

0.034

0.603

Buluh Open Pit

Proved

Probable

0.047

3.00

17.0

0.005

0.026

Total

0.047

3.00

17.0

0.005

0.026

Bujang Open Pit

Proved

Probable

0.062

3.20

48.6

0.006

0.098

Total

0.062

3.20

48.6

0.006

0.098

Tembang-Anang

Proved

Probable

0.063

1.60

31.1

0.003

0.063

Total

0.063

1.60

31.1

0.003

0.063

TOTAL

Proved

OPEN PIT

Probable

0.903

1.93

28.3

0.056

0.822

 

TOTAL

0.903

1.93

28.3

0.056

0.822

 

 

 

 

 

TOTAL

Proved

0.016

8.16

63.4

0.004

0.033

OPEN PIT &

Probable

1.260

2.28

26.5

0.092

1.073

UNDERGROUND

TOTAL

1.260

2.35

26.9

0.096

1.105

Competent Person’s Statement - Underground Ore Reserve

The information in this report that relates the Underground Ore Reserves is based on information compiled by Mr Robert Gregory of Sumatra Copper & Gold, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Gregory has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Gregory consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Competent Person’s Statement - Open Pit Ore Reserve

The information in this report that relates the Open Pit Ore Reserves is based on information compiled by Mr Dallas Cox of Crystal Sun Consulting who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Cox has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Cox consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.


The information in this report that relates the depletion of the Open Pit Ore Reserves is based on information compiled by Mr Robert Gregory of Sumatra Copper & Gold, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Gregory has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Gregory consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.