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The Mineral Resources tabulated below for Creston were compiled at a 0.035% Mo cut-off grade. The 0.035% Mo Cut-off grade was calculated using a molybdenum price of US$6.50/lb, G&A of US$ 0.75/tonne, process cost of US$ 3.50/tonne and 87% process recovery.
Creston Primary Resource Estimate @ 0.035% Mo Cut-Off Grade
Classification |
Tonnes |
Mo % |
Cu % |
Mo lbs.
Millions |
Cu lbs
Millions |
| Indicated |
92,873,000 |
0.083 |
0.060 |
169.9 |
122.8 |
| Inferred |
84,221,000 |
0.076 |
0.050 |
141.1 |
92.8 |
- Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
- The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
- Moly is currently selling for US $26.00 /lb but most analysts use a lower value in evaluating moly projects.
- The mineral resources were estimated using the Canadian Institute of Mining Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
- The mineral resources are reported within a Whittle 4X optimized pit shell at a low strip ratio of approximately 1:1 (waste/ore), based on an open pit model by P&E Mining Consultants Inc. of Brampton Ontario ("P&E"). The 0.035% Mo Cut-off grade was calculated using a molybdenum price of US$6.50/lb, G&A of US$ 0.75/tonne, process cost of US$ 3.50/tonne and 87% process recovery.
- The mineral resources have been estimated in an NI 43-101 compliant technical report prepared for the Company in January 2008 by independent qualified persons Eugene Puritch, P. Eng. and Dr. Wayne Ewert, P. Geo. of P&E. The P&E mineral resource estimate utilized conventional statistical analysis, variography, and grade interpolation utilizing Gemcom block modeling.
- The mineral resources estimated by P&E are confined to the Main Molybdenum Zone. Significant potential exists for additional molybdenum mineralization in nearby areas such as the Red Hill Zone, a relatively untested target located 300 metres southwest of the main Creston deposit. The Red Hill Zone, which has been interpreted as the root zone of the Creston deposit, is open along strike in both directions and at depth.
- Dr. Luca Riccio, PhD., P.Geo, a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained herein.
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