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NI 43-101 Resource*

Cordero hosts one of the largest mineral inventories of silver globally, along with significant volumes of gold, lead and zinc.

The Mineral Resource Estimate for Cordero was most recently updated in January 2023. This update incorporated an additional 67,800 m of drilling for a total of 280,000 m of drilling in 522 drill holes.

The Measured & Indicated Resource grew by 35% to 1,132 Moz AgEq and the Inferred Resource grew by 40% to 119 Moz AgEq as summarized in the table below. This resource expansion was largely driven by exploration success at depth and in the northeast part of the deposit.

 

Material Class Tonnes Grade Contained Metal
Ag Au Pb Zn AgEq Ag Au Pb Zn AgEq
(Mt) (g/t) (g/t) (%) (%) (g/t) (Moz) (koz) (Mlb) (Mlb) (Moz)
Oxide Measured 21 30 0.08 0.23 0.25 49 21 51 109 117 33
Indicated 42 24 0.06 0.24 0.31 46 33 85 224 288 62
M&I 63 26 0.07 0.24 0.29 47 54 136 333 405 95
Inferred 36 18 0.04 0.28 0.37 43 21 40 216 292 49
Sulphide Measured 250 23 0.08 0.33 0.57 55 185 604 1,824 3,132 439
Indicated 403 18 0.04 0.27 0.56 46 228 524 2,387 4,947 598
M&I 653 20 0.05 0.29 0.56 49 413 1128 4,211 8,079 1037
Inferred 109 13 0.02 0.21 0.38 33 46 82 510 923 118
TOTAL Measured 271 24 0.08 0.32 0.55 55 206 655 1,933 3,249 472
Indicated 445 19 0.04 0.27 0.54 46 261 609 2,611 5,235 660
M&I 716 20 0.06 0.29 0.54 49 467 1,264 4,544 8,484 1,132
Inferred 145 14 0.02 0.23 0.38 35 67 122 726 1,215 167

Further details including all supporting technical disclosure can be found in our January 24, 2023 press release.

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