Illinois Creek Project Exploration Update
Resource Statement
Illinois Creek Oxide Combined In-situ and Leach Pad Mineral Resource Estimate
In-Situ Mineral resources are stated as contained within a pit shell developed using metal prices of US$1,600/oz Au and US$20/oz Ag, mining costs of
US$2.50/t, processing costs of US$10/t, G&A cost of US$4.00/t, 92% metallurgical recovery Au, 65% metallurgical recovery Ag and an average pit slope of
45 degrees.
AuEq values are based only on gold and silver values using metal prices of US$1,600/oz Au and US$20/oz Ag. The cut-off grade for resources considered
amenable to open pit extraction methods is 0.35 g/t AuEq or 40 g/t AgEq. It is assumed that the entire volume of the material on the leach pad will be
processed and therefore, no selectivity is possible, and the Leach Pad Mineral Resources are presented at a zero-cut-off grade.
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
AgEq
AuEq
Ag
Au
AgEq
AuEq
Ag
Au
(g/t)
(oz/t)
(g/t)
(g/t)
(g/t)
(Moz)
(Koz)
(Moz)
(Koz)
Indicated
8.7
136
4.4
1.33
34.4
0.9
38.3
373
9.6
253
Inferred
3.3
148
5.0
1.44
36.2
0.99
15.8
152
3.8
104
TSX-V: WAM
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