Mexico Reserves (2021)
Securities and Exchange Commission (SEC) Proven and Probable (P&P) Regulation S-K (Subpart 1300) Reserve Estimates
As of December 31, 2021, our estimate of Proven and Probable (P&P) reserves was:
| Description | Tonnes | Au g/t |
Ag g/t |
AuEq g/t |
Au oz | Ag oz | AuEq oz | Cu % |
Pb % |
Zn % |
|---|---|---|---|---|---|---|---|---|---|---|
| Don David Gold Mine | ||||||||||
| Arista Mine | ||||||||||
| Proven | 353,500 | 2.63 | 93 | 3.68 | 29,900 | 1,060,600 | 44,300 | 0.4 | 1.9 | 4.9 |
| Probable | 1,131,200 | 1.22 | 61 | 3.61 | 44,200 | 2,225,100 | 74,400 | 0.2 | 1.0 | 2.8 |
| Arista Mine Total | 1,484,700 | 1.55 | 69 | 3.58 | 74,100 | 3,285,700 | 118,700 | 0.3 | 1.2 | 3.3 |
| Alta Gracia Mine | ||||||||||
| Proven | 3,000 | 0.85 | 392 | 4.61 | 100 | 37,800 | 600 | 0.0 | 0.1 | 0.3 |
| Probable | 50,800 | 0.27 | 169 | 6.90 | 400 | 276,000 | 4,200 | 0.0 | 0.0 | 0.0 |
| Alta Gracia Mine Total | 53,800 | 0.30 | 181 | 5.00 | 500 | 313,800 | 4,800 | 0.0 | 0.0 | 0.0 |
| Don David Gold Mine Total | 1,538,500 | 1.51 | 73 | 3.62 | 74,600 | 3,599,500 | 123,500 |
Notes to the 2021 P&P reserves:
1. Mineral Reserves estimated at December 31, 2021 are based on $1,744/oz for Gold, $23.70/oz for Silver, $3.59/pound Copper, $0.97/pound Lead, and $1.15/pound Zinc. These prices reflect the August 2021 average five-year street consensus as provided by the Bank of Montreal.
2. The Arista Mine cut-off grades for Mineral Reserves are $88/tonne NSR.
3. No appreciable amounts of base metals are present in the Alta Gracia veins identified to-date. A breakeven cut-off grade of 2.33 g/t AuEq was used for Mineral Reserves using gold and silver only to calculate gold equivalencies.
4. Rounding of tonnes, average grades, and contained ounces may result in apparent discrepancies with total rounded tonnes, average grades, and total contained ounces