The Indicated and Inferred Mineral Resources at Novo’s Beatons Creek gold project are outlined in the table below:
Open Pit Mineral Resources (optimized oxide and fresh mineralization)
Classification
Cut-off grade (g/t)
Tonnes
Gold grade (g/t)
Contained gold (oz)
| Indicated |
| Inferred |
| 0.5 |
| 0.5 |
| 3,050,000 |
| 830,000 |
| 2.4 |
| 1.6 |
| 234,000 |
| 42,000 |
Open Pit Mineral Resources (oxide mineralization only)
Classification
Cut-off grade (g/t)
Tonnes
Gold grade (g/t)
Contained gold (oz)
| Indicated |
| Inferred |
| 0.5 |
| 0.5 |
| 815,000 |
| 445,000 |
| 1.3 |
| 1.3 |
| 33,000 |
| 18,000 |
Open Pit Mineral Resources (fresh mineralization only)
Classification
Cut-off grade (g/t)
Tonnes
Gold grade (g/t)
Contained gold (oz)
| Indicated |
| Inferred |
| 0.5 |
| 0.5 |
| 2,240,000 |
| 385,000 |
| 2.8 |
| 1.9 |
| 201,000 |
| 24,000 |
Notes:
- Open pit Mineral Resources contain oxide and fresh mineralisation within a Whittle optimized shell and constrained within a mineralized wireframe. A cut-off grade of 0.5 g/t Au was applied.
- The pit shell was generated with the following parameters:
- A$2,600 / troy ounce (US$1,690 / troy ounce) of gold;
- Nominal process rate of 1.6 Mtpa for fresh mineralization with a recovery of 91%; and process rate of 1.8 Mtpa for oxide mineralization with a recovery of 93%;
- Bulk densities applied: oxide mineralization 2.50 t/m3 (oxide waste 2.50 t/m3) and fresh mineralization 2.80 t/m3 (fresh waste 2.75 t/m3);
- A$5.15 / tonne (US$3.35 / tonne) mining cost for oxide and A$5.45 / tonne (US$3.54 / tonne) for fresh;
- A$37.47 / tonne (US$24.36 / tonne) oxide and A$38.37 / tonne (US$24.94 / tonne) fresh processing cost (incl. G&A);
- 25% dilution and 5% mineralization loss;
- Royalties 5.25%;
- Discount factor of 6%; and
- A$ to US$ foreign exchange rate of 0.65:1.
- Totals may not sum due to rounding.
