| Location: |
Kapan, Armenia |
| Ownership: |
100% DPM |
| What’s New: |
Completion of increased mill throughput to 600,000 tonnes per year in Q4 2010 |
| Gold Production: |
2010 - 29,216 ounces |
| Copper Production: |
2010 - 2,890,094 lbs |
| Silver Production: |
2010 - 527,376 ounces |
| Zinc Production: |
2010 - 19,089,390 lbs |
| Cash Cost: |
2010 - US$66.33 per tonne of ore; excluding royalties
2010 - US$70.31 per tonne of ore;
including royalties |
| Mining & Processing: |
Underground mine; Crushing, grinding and flotation |
| Technical Report: |
Technical Report for the Shahumyan Deposit, March 31, 2009 |
Shahumyan Deposit - Open Pit Potential
Inferred Mineral Resource - Ordinary Kriging Estimate - September 2008
10mE x 10mN x 10mRL Block size – 5m capped input composite data
| Cutoff |
Tonnage |
Gold Equiv. |
Copper |
Gold |
Silver |
Zinc |
| (AuEq - g/t) |
(Mt) |
(g/t) |
(%) |
(g/t) |
(g/t) |
(%) |
| 0.50 |
335.8 |
1.19 |
0.11 |
0.48 |
8.39 |
0.41 |
| 0.75 |
226.5 |
1.47 |
0.13 |
0.61 |
10.32 |
0.49 |
| 1.00 |
147.1 |
1.80 |
0.15 |
0.79 |
12.62 |
0.57 |
| 1.25 |
98.3 |
2.14 |
0.17 |
0.99 |
14.99 |
0.65 |
| 1.50 |
69.8 |
2.45 |
0.18 |
1.19 |
17.00 |
0.72 |
| 1.75 |
49.2 |
2.80 |
0.19 |
1.43 |
19.14 |
0.78 |
| 2.00 |
36.3 |
3.13 |
0.19 |
1.68 |
20.87 |
0.83 |
Note: AuEq US$ price assumptions: Cu $5,511.6/t, Au $850/oz, Ag $16/oz and Zn $2,204.6/t. The resource estimate is based on various assumptions and key parameters and are subject to risks as more fully described in the supporting technical report.
(1) The “Technical Report for the Shahumyan Deposit” prepared by Coffey, in accordance with NI 43-101, was filed on SEDAR on March 31, 2009.
(2) The information in the above table has been prepared under the supervision of Dr. Julian Barnes, a Qualified Person within the meaning of NI 43-101 and independent of the Company.