IGO Annual Report 2016

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Annual Report 2016 25
Table 5: Long Operation – June 2016 Mineral Resources (and 2015 comparison)
Mineral Resources - 30 June 2015 Mineral Resources - 30 June 2016
Tonnes Grade
Contained
Metal Tonnes Grade
Contained
Metal
Classification (t)
Ni
(%)
Ni
(t) (t)
Ni
(%)
Ni
(t)
Long Measured 65,000 5.4 3,500 62,000 5.3 3,300
Indicated 287,000 5.1 14,600 287,000 5.1 14,600
Inferred 355,000 4.7 16,700 355,000 4.7 16,700
Sub-Total 707,000 4.9 34,800 704,000 4.9 34,600
Victor South Measured - - - - - -
Indicated 147,000 2.1 3,100 147,000 2.1 3,100
Inferred 33,000 1.5 500 33,000 1.5 500
Sub-Total 180,000 2.0 3,600 180,000 2.0 3,600
McLeay Measured 63,000 6.3 4,000 61,000 6.4 3,900
Indicated 71,000 4.9 3,500 71,000 4.9 3,500
Inferred 21,000 6.7 1,400 21,000 6.7 1,400
Sub-Total 155,000 5.7 8,900 153,000 5.8 8,800
Moran Measured 234,000 6.6 15,500 126,000 7.2 9,100
Indicated 51,000 3.3 1,700 44,000 3.9 1,700
Inferred 52,000 3.7 1,900 52,000 3.7 1,900
Sub-Total 337,000 5.7 19,100 222,000 5.7 12,700
Stockpiles Measured - - - - - -
GRAND TOTAL 1,379,000 4.8 66,400 1,259,000 4.7 59,700
Notes:
1. Mineral Resources are reported using a 1% Ni cut-off grade except for the Victor South disseminated Mineral Resource, which is reported
using a cut-off grade of 0.6% Ni.
2. Block modelling used the ordinary-kriging grade-interpolation method on 1m composites within wireframes for all elements and density for
the Victor South, McLeay and Moran deposits. For the Long mineralisation, ordinary-kriging was used to estimate metal accumulation and
horizontal width variables for each drill hole intercept into a two-dimensional block model. The final block grades were back-calculated and
the block model was converted to a conventional three-dimensional block model using nearest neighbour assignment.
3. Mining as at 30 June 2016 has been removed from the 2016 Mineral Resource estimate.
4. Mineral Resources are inclusive of Ore Reserves.
5. All figures are rounded to reflect appropriate levels of confidence. Apparent difference may occur due to rounding.
6. JORC Code (2012) Table 1 Parameters are contained within IGO’s 2016 ASX Resources and Reserves Statement as released to the ASX which
can be found at
Table 6: Long Operation – June 2016 Ore Reserves (and 2015 comparison)
Ore Reserves - 30 June 2015 Ore Reserves - 30 June 2016
Tonnes Grade
Contained
Metal Tonnes Grade
Contained
Metal
Classification (t)
Ni
(%)
Ni
(t) (t)
Ni
(%)
Ni
(t)
Long Proved 28,000 3.6 1,000 23,000 3.5 800
Probable 94,000 2.8 2,600 45,000 3.1 1,400
Sub-Total 122,000 3.0 3,600 68,000 3.2 2,200
Victor South Proved 7,000 3.0 200 4,000 5.0 200
Probable 15,000 2.2 300 6,000 1.7 100
Sub-Total 22,000 2.5 500 10,000 3.0 300
McLeay Proved 22,000 3.5 800 18,000 3.9 700
Probable 24,000 3.1 700 19,000 3.2 600
Sub-Total 46,000 3.3 1,500 37,000 3.5 1,300
Moran Proved 380,000 4.0 15,200 224,000 4.2 9,400
Probable 38,000 3.0 1,200 12,000 3.3 400
Sub-Total 418,000 3.9 16,400 236,000 4.2 9,800
Stockpiles Proved - - - - - -
GRAND TOTAL 608,000 3.6 22,000 351,000 3.9 13,600
Notes:
1. Ore Reserves are reported above an economic Ni Cut-off value as at 30 June 2016.
2. A NSR value of $176/t has been used in the evaluation of the 2016 Ore Reserve.
3. Mining as at 30 June 2016 has been depleted from the 2016 Ore Reserve estimate.
4. All figures are rounded to reflect appropriate levels of confidence. Apparent difference may occur due to rounding.
5. Revenue factor inputs (US$): Ni $11,766/t, Cu $5,173/t. Exchange rate A$1.00 : US$0.74.
6. JORC Code (2012) Table 1 Parameters are contained within IGO’s 2016 ASX Resources and Reserves Statement as released to the ASX which
can be found at