Mineral Resource Estimates, June 13, 2022
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Indicated Mineral Resources |
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| Mining Method | Tonnes | Copper | Nickel | Cobalt | Palladium | Platinum |
| Grades | ||||||
| (Mt) | (%) | (%) | (%) | (gpt) | (gpt) | |
| Open Pit | 22.40 | 0.84 | 0.60 | 0.07 | 1.37 | 0.23 |
| Underground | 1.90 | 1.03 | 0.60 | 0.07 | 1.49 | 0.32 |
| Total | 24.30 | 0.85 | 0.60 | 0.07 | 1.38 | 0.23 |
| Contained Metals | ||||||
| (Million Pounds) | (Million Ounces) | |||||
| Open Pit | 414.82 | 296.30 | 34.57 | 0.99 | 0.17 | |
| Underground | 43.14 | 25.13 | 2.93 | 0.09 | 0.02 | |
| Total | 455.36 | 321.43 | 37.50 | 1.08 | 0.18 | |
Inferred Mineral Resources |
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| Method | Tonnes | Copper | Nickel | Cobalt | Palladium | Platinum |
| Grades | ||||||
| (Mt) | (%) | (%) | (%) | (gpt) | (gpt) | |
| Open Pit | 12.10 | 0.59 | 0.40 | 0.04 | 0.99 | 0.22 |
| Underground | 35.10 | 1.02 | 0.57 | 0.07 | 1.54 | 0.26 |
| Total | 47.20 | 0.91 | 0.53 | 0.06 | 1.40 | 0.25 |
| Contained Metals | ||||||
| (Million Pounds) | (Million Ounces) | |||||
| Open Pit | 157.39 | 106.70 | 10.67 | 0.39 | 0.09 | |
| Underground | 789.29 | 441.07 | 54.17 | 1.74 | 0.29 | |
| Total | 946.92 | 551.50 | 62.43 | 2.12 | 0.38 | |
- CIM definitions (2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2019) were followed for Mineral Resources.
- Mineral Resources were estimated at NSR cutoff values of US$49.70 for open pit and US$94.50 for underground.
- NSR values were calculated using long-term metal prices of US$8.00/lb for Nickel, $US3.30/lb for Copper, US$20.60/lb of Cobalt, US$900/oz Platinum, and US$1,910/oz Palladium.
- Metallurgical recoveries used in the NSR calculation were 91% for Nickel, 96% for Copper, 90% for Cobalt, 50% for Platinum and 81% for Palladium.
- Open pit Mineral Resources are reported at a base case NSR value of US$49.70 within a conceptual pit.
- Underground Mineral Resources were estimated using a minimum true width of 2.5 metres and US$94.50 NSR value.
- The independent Qualified Person for the current Mineral Resource estimate is Mr. Jamie Lavigne, P. Geo.
- The Mineral Resource block model was peer-reviewed by Allan Armitage, PhD, P.Geo of SGS Geological Services. Dr. Armitage is an Independent Qualified Person as defined in NI-43-101.
- Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
- All figures are rounded to reflect the relative accuracy of the estimate. Numbers may not add due to rounding