Etoile Mine

Reserves and Resources

In 2008 the life-of-mine assessment confirmed 13.5 Mt in-pit-resource grading 3.3% Cu and 0.55% Co (6% Cu equivalent). The mine contains unusually high cobalt grades of over 0.6% (rather than the more usual 0.3%).  Consequently, approximately 50% of the revenue from the mine is from Cobalt.

The Etoile mine reserve numbers are JORC compliant and were compiled in 2007 by an in-house exploration team together with IMC Consulting Ltd who are a JORC accredited consultancy.

Cu JORC 2007
Ore (Mt)
Cu (%)
Cu (000t)
Measured
10.76
2.7%
289
Indicated
6.393.3%209
Inferred
4.293.5%149
Total Resource
21.433.02%647
Proven
4.812.7%128
Probable3.103.3%102
Total Reserve
7.912.90%229
Co JORC 2007
Ore (Mt)
Co (%)
Co (000t)
Measured
11.98
0.6%
71.4
Indicated
1.310.6%7.6
Inferred
1.800.7%13.0
Total Resource
15.080.61%92.1
Proven
5.920.6%36.7
Probable0.420.7%2.9
Total Reserve
6.330.62%39.6