I would to see an updated mineral reserves and resources
posted on
Jan 05, 2010 12:42PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
The last update was based on a US$550 per ounce gold price and cut-off grades ranging from 0.33 grams of gold per tonne to 0.57grams of gold per tonne, Using a US$1000 and a lower cut off grade, say 0.20 grams of gold per tonne, should add a few million Oz, the more reserves should translate in higher compensation "should" we go to Arb. or entertain a buyout
The following tables summarize the mineral reserves and resources at the Las Cristinas project and certain of the Corporation’s other mineral concessions and leases as at December 31, 2008. The mineral reserve and resource estimates have been prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101 and are based on technical reports prepared by independent experts, or have been prepared by the Corporation under the direction of, and verified by, Dr. Richard Spencer, P. Geo., a Qualified Person and former VP Exploration of Crystallex International Corporation.
MINERAL RESERVES & RESOURCES
Mineral Reserves1
December 31, 2008 |
December 31, 2007 |
|||||
Tonnes |
Gold |
Ounces of |
Tonnes |
Gold |
Ounces of |
|
Las Cristinas Proven Reserves
|
112,761 |
1.24 |
4,483,000 |
112,761 |
1.24 |
4,483,000 |
Las Cristinas Probable Reserves
|
351,601 |
1.10 |
12,379,000 |
351,601 |
1.10 |
12,379,000 |
TOTAL GOLD RESERVES |
464,362 |
1.13 |
16,862,000 |
464,362 |
1.13 |
16,862,000 |
|
|
|
|
|
|
Mineral Resources
Mineral resources are in addition to and do not include mineral reserves
December 31, 2008 |
December 31, 2007 |
|||||
Tonnes |
Gold |
Ounces of |
Tonnes |
Gold |
Ounces of |
|
Las Cristinas Measured & Indicated Resources
|
165,021 |
.73 |
3,899,000 |
165,021 |
.73 |
3,899,000 |
La Victoria2 |
--- |
--- |
--- |
2,422 |
4.5 |
349,000 |
Total Measured & Indicated Gold Resources |
165,021 |
.73 |
3,899,000 |
167,443 |
.79 |
4,248,000 |
Las Cristinas Inferred Resources3 | 229,626 |
.85 |
6,276,000 |
229,626 |
.85 |
6,276,000 |
1 The mineral reserves and resources for the Las Cristinas Project are based on estimates prepared by MDA (Steve Ristorcelli, P. Geo. and Thomas Dyer, P. Eng. of MDA were the Qualified Persons) in the 2007 Technical Report Update. The mineral reserves estimated by MDA are based on a US$550 per ounce gold price and cut-off grades ranging from 0.33 grams of gold per tonne to 0.57grams of gold per tonne depending on the mineral type. The mineral resources estimated by MDA are based on a cut-off grade of 0.5 grams of gold per tonne.