Reserves and resources summary
Bindura Nickel Corporation
Bindura Nickel Corporation - Resources and Reserves as at 31 March 2009
| Classification of Resources | Tonnage (000t) | Grade (%) | Nickel (t) |
| Measured | | | |
| Trojan | 2,560 | 0.93 | 23,710 |
| Shangani | 870 | 0.42 | 3,690 |
| Hunter's Road | – | – | – |
| Total | 3,430 | 0.80 | 27,400 |
| | | | |
| Indicated | | | |
| Trojan | 3,640 | 1.93 | 70,230 |
| Shangani | 6,030 | 0.47 | 28,130 |
| Hunter's Road | 45,060 | 0.54 | 243,230 |
| Total | 54,730 | 0.62 | 341,590 |
| | | | |
| Measured & Indicated | | | |
| Trojan | 6,200 | 1.52 | 93,940 |
| Shangani | 6,900 | 0.46 | 31,820 |
| Hunter's Road | 45,060 | 0.54 | 243,230 |
| Total March 2009 | 58,160 | 0.63 | 368,990 |
| Total March 2008 | 16,020 | 0.88 | 141,050 |
| | | | |
| Inferred Resources | | | |
| Trojan | 7,940 | 0.72 | 57,410 |
| Shangani | 4,850 | 0.53 | 25,540 |
| Hunter's Road | – | – | – |
| Total |
12,790 | 0.65 | 82,950 |
| Total March 2008 | 13,180 | 0.64 | 84,850 |
Note:
- As a result of global decline in nickel prices, exacerbated by the elevated cost of production from BNC’s mines owing to reduced production volumes and the difficult social and economic environment in Zimbabwe, BNC’s mining operations were placed onto care and maintenance in November 2008. Commodity prices prevailing at 31st March 2009 indicated that mining of the resources at Trojan, Shangani and Hunters Road would be uneconomic, and consequently no reserve statement has been included, consistent with the JORC resource management code. Previously stated reserves of 12,385t, 25,109t, 175,086t respectively (stated as of 31st March 2008 and calculated based on a nickel price of $7.50 / lb) have been reclassified as resources.
- The indicated resource at Hunters Road reflects inclusion of the East orebody, which has been drilled out but for which no mine plan or pit design has been prepared. Hunters Road West orebody excludes first 30m of untreatable oxide ore mineralisation. The high grade in the ‘Indicated’ at Trojan is caused by massive sulphide ore below 35/0 level. Confirmatory drilling to verify this high-grade ore has started.
- BNC is investigating options to reduce its cost of production. A statement of reserves will be compiled in due course based on the results of this analysis.
Freda Rebecca Mine
Freda Rebecca Mine – Resources and Reserves as at 31 March 2009
| Classification of reserves | Tonnage (000t) | Grade (%) | Gold (000oz) | | Classification of reserves | Tonnage (000t) | Grade (%) | Gold (000oz) |
| Proven | | | | | Measured | | | |
| Underground | 2,138 | 2.58 | 177 | | Underground | 10,408 | 2.51 | 841 |
| Surface | 270 | 3.47 | 30 | | Surface | 826 | 1.40 | 37 |
| Total | 2,408 | 2.68 | 207 | | Total | 11,234 | 2.43 | 878 |
| | | | | | | | | |
| Probable | | | | | Indicated | | | |
| Underground | 1,744 | 2.50 | 140 | | Underground | 2,106 | 2.52 | 170 |
| Surface | – | – | – | | Surface | – | – | – |
| Total | 1,744 | 2.50 | 140 | | Total | 2,106 | 2.52 | 170 |
| Total March 2009 | 4,153 | 2.60 | 347 | | Total March 2009 | 13,340 | 2.44 | 1,048 |
| Total March 2008 | 4,153 | 2.60 | 347 | | Total March 2008 | 13,340 | 2.44 | 1,048 |
Note:
- Resources are stated inclusive of reserves
- Underground resources are quoted at a 1.5g/t cut off, and surface resources are calculated at a 0.4g/t cut off.
- A revised mine plan will be developed, based on the optimisation of the resource model at prevailing commodity prices. Updated statements of reserves and resources will be provided as and when available. Further information on the Freda Rebecca mine can be found in the Independent Technical Report dated June 2007. (PDF - 3.74MB)
Klipspringer Diamond Mine
Resource statement as at 31 December 2008
| Resource Category | Mining Tons (t) | Mining Grade (cpht) | Carats Recovered (cts) |
| Leopard Fissure |
| Indicated Resources (above 7 level) |
| Ingwe (East) | 428,000 | 58.3 | 249,500 |
| Ndau (West) | 276,000 | 58.3 | 161,000 |
| Total | 704,000 | 58.3 | 410,500 |
| Inferred Resources (below 7 level to 15 level †††) |
| Ingwe (East) | 1,307,000 | 58.3 | 762,000 |
| Ndau (West) | 2,058,000 | 58.3 | 1,200,000 |
| Total | 3,365,000 | 58.3 | 1,962,000 |
Notes:
† The tonnage estimate includes a 5% geological loss
†† cpht – carats per 100 tonnes
††† The orebody remains open to depth below 15 level