Cordero hosts the world’s largest undeveloped silver reserve
NI 43-101 Reserve*
The Mineral Reserve Estimate for Cordero was most recently updated in February 2024. The Mineral Reserve for silver grew $36 Moz or 14% to 302Moz. On an AgEq basis, the Mineral Reserve increased 68 Moz or 10% to 779 Moz, with the increase related to successful resource expansion drilling as well as the impact of positive metallurgical test results in 2023 that supported oxide-sulphide blending up to 15% oxides versus only 10% oxides previously. Mineral Reserves are stated within the final pit designs based on a US$20.00/oz silver price, US$1,600/oz gold price, US$0.95/lb lead price and US$1.20/lb zinc price.
| Material | Class | Tonnes | Grade | Contained Metal | ||||||
| Ag | Au | Pb | Zn | Ag | Au | Pb | Zn | |||
| (Mt) | (g/t) | (g/t) | (%) | (%) | (Moz) | (Moz) | (Blb) | (Blb) | ||
| Oxide |
Proven |
10 | 46 | 0.08 | 0.35 | 0.38 | 15 | 0.03 | 0.08 | 0.09 |
|
Probable |
10 | 40 | 0.09 | 0.40 | 0.42 | 13 | 0.03 | 0.09 | 0.09 | |
|
Total P&P |
20 | 43 | 0.08 | 0.37 | 0.40 | 28 | 0.05 | 0.17 | 0.18 | |
| Sulphide |
Proven |
212 | 29 | 0.09 | 0.42 | 0.74 | 199 | 0.61 | 1.96 | 3.48 |
|
Probable |
95 | 24 | 0.06 | 0.40 | 0.73 | 74 | 0.18 | 0.83 | 1.53 | |
|
Total P&P |
307 | 28 | 0.08 | 0.41 | 0.74 | 274 | 0.78 | 2.79 | 5.00 | |
| TOTAL |
Proven |
223 | 30 | 0.09 | 0.42 | 0.73 | 214 | 0.64 | 2.04 | 3.57 |
|
Probable |
104 | 26 | 0.06 | 0.40 | 0.70 | 87 | 0.20 | 0.91 | 1.62 | |
|
Total P&P |
327 | 29 | 0.08 | 0.41 | 0.72 | 302 | 0.84 | 2.96 | 5.1 | |
* Further details including all supporting technical disclosure can be found in our February 20, 2024, press release.