Proven and probable reserves are now estimated at 11.2 million tonnes grading 1.54 grams gold per tonne (or 555,000 contained ounces gold), up from a previous estimate of 9.6 million tonnes grading 1.66 grams gold (T.N.M., May 11-17/99). Including reserves, the resources in the measured and indicated categories stand at 21.2 million tonnes grading 1.37 grams gold (or 932,000 contained ounces).
Reserves were estimated using a gold price of US$325 per oz., heap-leach recoveries of 75% and a cutoff grade of 0.5 gram gold. The reserves include a 4% dilution grading 0.2 gram gold and an average life-of-mine stripping ratio of 1.32-to-1.
The resource estimate is based on 221 reverse-circulation holes, as well as 923 metres of underground bulk samples taken from six crosscuts on section lines.
As part of a bankable feasibility study, due to be completed later this month, Vancouver-based Snowden Mining Industry Consultants conducted a resource estimate and reserve review. The results are being audited by Denver-based Behre Dolbear & Co.
Once the study is in hand, Wheaton River will apply for permits to begin construction in 2000.
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