 | |
| |
August 2006
(Reported as 100%)*
|
Reserves
CIM Classified (1)(3)(6) |
Tonnes
(000) |
Grade
Au (g/t) |
Grade
Ag (g/t) |
Gold Ounces
Contained (5)
(000) |
Silver Ounces
Contained (5)
(000) |
|
| Proven & Probable |
|
Berezitovy (2)(8)
|
13,900 |
2.32 |
11.71 |
1,040 |
5,243 |
|
Taparko-Bouroum (7) |
8,784 |
2.99 |
— |
845 |
— |
|
|
|
|
|
1,855 |
5,243 |
Resources
CIM Classified (1)(4)
|
|
Measured & Indicated
|
| Taparko-Bouroum (3)(7) |
3,842 |
2.77 |
– |
273 |
– |
|
|
|
– |
|
– |
| Bissa (7) |
12,006 |
1.72 |
– |
662 |
– |
|
|
|
|
|
935 |
|
| Inferred |
| Taparko-Bouroum (3)(7) |
2,778 |
2.80 |
– |
250 |
– |
|
|
|
– |
|
– |
| Bissa (7) |
16,394 |
1.29 |
– |
679 |
– |
|
|
|
|
|
929 |
|
| Russian Classification System |
|
|
|
|
|
|
|
– |
|
|
|
|
|
– |
|
|
|
|
|
|
|
|
| Category C2 Resources |
|
|
|
|
|
– |
| |
|
|
|
|
– |
| Prognoz (9) |
4,989 |
– |
875.5 |
|
141,000 |
|
|
|
|
|
|
|
141,000 |
* High River's interest: Buryatzoloto (which owns 100% of the Zun-Holba and Irokinda mines and 50% of the Prognoz Project) -- 84.6%, Berezitovy project -- 99%; Taparko-Bouroum project -- 90%; and Bissa project -- 90%.
(1) Reported mineral reserves and resources as of December 31, 2005 are stated in accordance with definitions adopted by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) on August 20, 2000.
(2) Mineral reserves and resources for the Berezitovy projects have been estimated using site specific appropriate cut-off grades with an average long-term gold price of US $350/oz and silver price of US $5.00/oz.
(3) Mineral reserves for Taparko-Bouroum have been estimated using site specific appropriate cut-off grades with an average long-term gold price of US $400/oz (Note: Steffen Robertson and Kirsten (Canada) Inc. (SRK ) re-optimized the Taparko and Bouroum open pits using a gold price of US $400/oz and updated the mineral reserves as reported in the Addendum to the Taparko-Bouroum Project, Burkina Faso, 43-101 (Technical Report June 2004 filed in May 2005). Mineral resources for Taparko-Bouroum have been estimated using site specific appropriate cut-off grades with an average long-term gold price of US $350/oz.
(4) Mineral resources (of all categories) that are not mineral reserves do not have demonstrated economic viability. Mineral resources include mineral reserves.
(5) Contained metal figures are before mill recovery factors are applied.
(6) Mineral reserves reflect the diluted tonnages and grades of the mine plan.
(7) Mineral reserve and resource estimates for the Taparko-Bouroum project were prepared by or under the direction of SRK and Strathcona Mineral Services Limited (Strathcona) as reported in the technical reports filed in June 2004 and May 2005. Mineral resource estimates for the Bissa project were prepared by SRK as reported in technical reports dated September 2004 and May 2006. Both SRK and Strathcona are independent geological and engineering firms, and each of the individuals who contributed to, or supervised the preparation of the Taparko-Bouroum report was a "Qualified Person" as that term is defined in National Instrument 43-101.
(8) Mineral reserve estimates for the Berezitovy project were prepared by or under the direction of Micon International Limited (Micon) as reported in the technical report filed in June 2004. Mineral resource estimates for the Berezitovy project were prepared by Roscoe Postle Associates Inc. (Roscoe Postle), also referenced in the technical report filed in June 2004. Both Micon and Roscoe Postle are independent geological and engineering firms, and each of the individuals who contributed to, or supervised the preparation of the Berezitovy report was a "Qualified Person" as that term is defined in National Instrument 43-101.
(9) Prognoz: Historical non NI 43-101 compliant mineral reserve and resource estimates for the Prognoz Project were prepared by the Russian state exploration company Yangeologia and reported in a technical report compiled between 1998 and 2000. These estimates have been calculated according to standard Russian industry practice and do not confrom to the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards and definitions for resource estimates, as set out in NI 43-101. These estimates should not be relied upon until fully confirmed by a NI 43-101 compliant independantly estimated resource calculation.
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