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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

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Message: I would to see an updated mineral reserves and resources

I would to see an updated mineral reserves and resources

posted on Jan 05, 2010 12:42PM

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
(000s)

Gold
grade
(g/t)

Ounces of
gold
contained

Tonnes
(000s)

Gold
grade
(g/t)

Ounces of
gold
contained

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
(000s)

Gold
grade
(g/t)

Ounces of
gold
contained

Tonnes
(000s)

Gold
grade
(g/t)

Ounces of
gold
contained

Las Cristinas
Measured & Indicated Resources

165,021

.73

3,899,000

165,021

.73

3,899,000

La Victoria2
Indicated
Resources

---

---

---

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.

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