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Resource Statement
Waterpump Creek Sulfide Mineral Resource Estimate
Mineral resources are stated based on the following assumptions:
Estimated recoveries of 75% Ag, 70% Pb, and 84% Zn
Metal pricing of US$24/oz Ag, US$1.30/lb Zn, and US$ 1.00/lb Pb
The formulas for AgEq and ZnEq based on the above metal prices are AgEq (g/t)= Ag (g/t) + 28.56 x Pb(%) + 37.12 x Zn(%) and ZnEq (%) = Zn (%) + Pb(%) x
0.7692 + Ag (g/t) x 0.0269
The cut-off grade for resources considered amenable to underground extraction methods is 200 g/t AgEq and includes recoveries in the calculations:
AgEq(recovery) = Ag (g/t) x 75% + 28.56 x Pb(%) x 70% + 37.12 x Zn(%) x 84%.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral
Resources will be converted into Mineral Reserves.
Mineral resources in the Inferred category have a lower level of confidence than that applied to Indicated mineral resources, and, although there is
sufficient evidence to imply geologic grade and continuity, these characteristics cannot be verified based on the current data. It is reasonably expected
that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration.
Tonnes
Average Grade
Contained Metal
Class
(M)
AgEq
Ag
Zn
Pb
ZnEq
AgEq
Ag
Zn
(g/t)
(g/t)
(%)
(%)
(%)
(Moz)
(Moz)
(Mlbs)
Pb
(Mlbs)
ZnEq
(Mlbs)
Inferred
2.38
980
279
11.28
9.87
26.4
74.9
21.4
591
517
1383
TSX-V: WAM
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