TSX.V MAU
LAST $2.12 (-0.11)
OTCQX MAUTF
LAST $1.52 (-0.08)
TSX.V MAU
LAST 2.12 (-0.11)
OTCQX MAUTF
LAST 1.52 (-0.08)

Mineral Inventory 

Mineral Inventory

Mineral Resources and Reserves Estimates

The Koné Gold Project currently hosts two gold deposits, the Koné deposit and the Gbongogo Main satellite deposit which is situated approximately 35km north of the Koné deposit.

 

Koné Deposit – Mineral Resource Estimate

The Mineral Resource Estimate (“MRE”) for the Koné deposit is based on an optimal pit shell generated using cost inputs in line with the January 2024 Updated Feasibility Study (“UFS”) and a gold price of $1,800/oz with an effective date of 19 December 2023.

Cut-off Grade Indicated Inferred
Au g/t Mt Au g/t Au Moz Mt Au g/t Au Moz
0.1 286 0.50 4.60 37 0.3 0.36
0.2 229 0.59 4.34 25 0.5 0.40
0.3 170 0.70 3.83 16 0.6 0.31
0.4 130 0.81 3.39 10 0.7 0.23
0.5 100 0.92 2.96 7.0 0.8 0.18
0.6 78 1.03 2.58 5.0 0.9 0.14
0.7 61 1.14 2.24 3.0 1.1 0.11
0.8 47 1.25 1.89 2.0 1.2 0.08

 

 

Notes:
1. The MRE is reported on a 100% basis and is constrained within an optimal pit shell generated at a gold price of US$1,800/ounce.
2. The identified Mineral Resources are classified according to the “CIM” definitions of Indicated Mineral Resources and Inferred Mineral Resources.
3. The MRE was prepared by Mr. Jonathon Abbott of Matrix Resource Consultants of Perth, Australia who is a Qualified Person as defined by NI 43-101.
4. The estimate at 0.2g/t represents the base case or preferred scenario for Koné.
5. Mineral Resources are reported inclusive of Mineral Reserves.
6. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
7. Figures are rounded to reflect the precision of the estimates.

 

Gbongogo Main Deposit – Mineral Resource Estimate

The MRE for the Gbongogo Main deposit is constrained within an optimal pit shell generated using cost inputs in line with the UFS and at a gold price of $1,800/oz with an effective date of 19 December 2023.

Cut-off Grade Indicated
 Au g/t Mt Au g/t Au Koz
0.2 15 1.16 0.56
0.3 14 1.26 0.57
0.4 12 1.37 0.53
0.5 11 1.48 0.52
0.6 9.9 1.59 0.51
0.7 8.8 1.71 0.48
0.8 7.8 1.83 0.46
0.9 6.9 1.96 0.43
1.0 6.1 2.09 0.41

 

 

Notes:
1. The MRE is reported on a 100% basis and is constrained within an optimal pit shell generated at a gold price of US$1,800/ounce.
2. The identified Mineral Resources are classified according to the “CIM” definitions of Indicated Mineral Resources and Inferred Mineral Resources.
3. The MRE was prepared by Mr. Jonathon Abbott of Matrix Resource Consultants of Perth, Australia who is a Qualified Person as defined by NI 43-101.
4. The estimate at 0.5g/t represents the base case or preferred scenario for Gbongogo Main. 5. Mineral Resources are reported inclusive of Mineral Reserves.
6. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
7. Figures are rounded to reflect the precision of the estimates.

 

Koné Gold Project - Combined Mineral Resources

The combined resources based on the preferred cut off grades for each deposit are shown below.

Cut-off Grade Indicated Mineral Resource Inferred Mineral Resource
Deposit Au g/t Mt Au g/t Au Moz Mt Au g/t Au Moz
 Koné 0.2 229 0.59 4.34 25 0.5 0.40
 Gbongogo Main 0.5 11 1.48 0.52 - - -
 KGP Total 240 0.63 4.87 25 0.5 0.40

 

 

Notes:
1. Figures are rounded to reflect the precision of the estimates and include rounding errors.

 

 

 

Koné Gold Project – Mineral Reserve Estimate

The Mineral Reserve estimate was prepared by Carci Mining Consultants Ltd., dated as of January 15, 2024 and is presented below.

    Oxide Transition Fresh Total
Pit Classification Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz
Koné South Probable 9.6 0.57 0.18 7.9 0.56 0.14 141.4 0.67 3.05 159.1 0.66 3.39
Koné North Probable 0.9 0.47 0.01 70.4 0.44 0.01 0.4 0.51 0.01 1.9 0.47 0.03
Gbongogo Main Probable 0.7 1.36 0.03 0.5 1.09 0.02 9.4 1.46 0.44 10.7 1.43 0.49
Total Probable 11.3 0.63 0.23 7.9 0.63 0.16 155.1 0.73 3.62 174.3 0.72 4.01

 

 

Notes:
1. The Mineral Reserves are classified according to the “CIM” definitions.
2. All Mineral Reserves were classified as Probable based on the Indicated Mineral Resource
3. The Mineral Reserve cut off grade range from 0.19 g/t to 0.49g/t based on a $1,550/oz gold price
4. The Mineral Reserve statement was prepared by Joeline McGrath of Carci Mining Consultants Ltd., who is a Qualified Person as defined by NI 43-101.
5. The figures in this tables are rounded to reflect the precision of the estimates and may include rounding errors.