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60 Independence Group NL
Table 3: Tropicana Gold Mine – 100% basis (IGO Share 30%) – 30 June 2015 Mineral Resources (and 2014 comparison)
Mineral Resource – 30 June 2014
Mineral Resource – 30 June 2015
Classification Tonnes (Mt)
Au g/t
Contained Au
(Moz)
Tonnes (Mt)
Au g/t
Contained Au
(Moz)
Open Pit
Measured
22.8
2.11
1.56
12.8
2.09
0.86
Indicated
73.7
1.89
4.47
75.3
1.85
4.47
Inferred
5.8
2.57
0.48
5.8
2.54
0.48
Sub-Total
102.4
1.97
6.50
93.9
1.92
5.80
Underground
Measured
-
-
-
-
-
-
Indicated
2.4
3.58
0.27
2.4
3.58
0.27
Inferred
6.1
3.07
0.60
5.8
3.14
0.59
Sub-Total
8.5
3.21
0.87
8.2
3.26
0.86
Stockpiles
Measured
4.9
1.04
0.16
13.6
0.87
0.38
Total Tropicana
Measured
27.7
1.92
1.72
26.4
1.46
1.24
Indicated
76.1
1.94
4.74
77.7
1.90
4.74
Inferred
11.9
2.83
1.08
11.7
2.84
1.06
GRAND TOTAL
115.7
2.03
7.54
115.7
1.89
7.04
Notes:
1.
For the Open Pit Mineral Resource estimate, mineralisation in the Havana, Havana South, Tropicana and Boston Shaker areas was calculated
within a US$1,550/oz pit optimisation at an AUD:USD exchange rate of $1.03 ($1,500/oz).
2.
The Open Pit Mineral Resources have been estimated using the geostatistical technique of Uniform Conditioning, using a cut-off grade of
0.3g/t Au for all material types.
3.
The Havana Deeps Underground Mineral Resource estimate has been reported outside the US$1,550/oz pit optimisation at a cut-off grade of
2.0g/t Au, which was calculated using a gold price of US$1,600/oz (AUD:USD 1.02) ($1,566/oz).
4.
The Havana Deeps Underground Mineral Resource was estimated using the geostatistical technique of Ordinary Kriging using average drill
hole intercepts.
5.
The Mineral Resource is estimated from the 2012 Mineral Resource model and stockpile volumes at 30 June 2015. Mining as at 30 June 2015
has been removed from the 2015 Resource estimate.
6.
Resources are inclusive of Reserves.
7.
The Competent Persons statement is incorporated in the JORC Code (2012) Competent Persons Statements section of this report.
8.
JORC Code (2012) Table 1 Parameters are in IGO’s ASX release of 28 October 2015.
Table 4: Tropicana Gold Mine – 100% basis (IGO Share 30%) – 30 June 2015 Ore Reserves (and 2014 comparison)
Ore Reserve – 30 June 2014
Ore Reserve – 30 June 2015
Classification Tonnes (Mt)
Au g/t
Contained Au
(Moz)
Tonnes (Mt)
Au g/t
Contained Au
(Moz)
Open Pit
Proved
20.2
2.29
1.49
11.1
2.27
0.81
Probable
29.7
2.02
1.94
29.0
2.05
1.91
Stockpiles
3.3
1.27
0.13
8.4
1.09
0.29
GRAND TOTAL
53.3
2.08
3.56
48.5
1.93
3.01
Notes:
1.
The Proved and Probable Ore Reserve (30 June 2015) is reported above economic break-even gold cut-off grades for each material type at
nominated gold price US$1,100/oz and exchange rate 0.87 AUD:USD (equivalent to $1,261/oz Au).
2.
The 30 June 2015 Reserve estimate is updated using the end of June 2015 surveyed surface topography and end of June 2015 stockpile
balances. The final pit designs, cut-off grades and the Resource model used are unchanged from the December 2014 estimate reported by
AngloGold Ashanti (ASX:AGG) on their website (2014 Mineral Resource and Ore Reserve Report). The cut-off grades reported were 0.5g/t Au
for oxide material and 0.7g/t Au for transitional and fresh material.
3.
The Competent Persons statement is incorporated in the JORC Code (2012) Competent Persons Statements section of this report.
4.
JORC Code (2012) Table 1 Parameters are in IGO’s ASX release of 28 October 2015.