IGO Annual Report 2016

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26 Independence Group NL
Table 7: Jaguar Operation – June 2016 Mineral Resources (and 2015 comparison)
Mineral Resources - 30 June 2015 Mineral Resources - 30 June 2016
Tonnes Grade Tonnes Grade
Classification (t)
Cu
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t) (t)
Cu
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t)
Bentley Measured 529,000 2.1 11.5 159 0.8 402,000 1.8 11.5 177 0.9
Indicated 1,252,000 1.6 7.3 118 0.8 1,418,000 1.0 11.0 161 1.0
Inferred 1,113,000 1.0 8.8 149 1.1 282,000 0.7 5.3 107 1.0
Stockpiles 13,000 1.1 9.2 121 0.6 5,000 2.0 8.9 131 0.8
Sub-Total 2,907,000 1.5 8.6 138 0.9 2,107,000 1.2 10.3 157 1.0
Mineral Resources – 30 August 2009 Mineral Resources – 30 August 2009
Teutonic Bore Measured - - - - - - - - - -
Indicated 946,000 1.7 3.6 65 - 946,000 1.7 3.6 65 -
Inferred 608,000 1.4 0.7 25 - 608,000 1.4 0.7 25 -
Sub-Total 1,554,000 1.6 2.5 49 - 1,554,000 1.6 2.5 49 -
GRAND TOTAL 4,461,000 1.5 6.5 107 - 3,661,000 1.4 7.0 111 0.6
Notes:
1. 2015 Mineral Resources include massive sulphide and stringer sulphide mineralisation. Massive sulphide resources are geologically defined;
stringer sulphide resources for 2015 are reported above a cut-off grade of 0.7% Cu. No economic mining constraints were applied to the 2015
Mineral Resource.
2. 2016 massive sulphide Mineral Resource is reported above a cut-off of $96/t NSR. Stringer sulphide (incremental resources) reported above a
cut-off of $60/t NSR. Economic mining constraints have been applied to the 2016 Mineral Resource.
3. Block modelling mainly used ordinary-kriging grade-interpolation methods within wireframes for all elements and density.
4. All Mineral Resources are depleted for mining
5. All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
6. Mineral Resources are inclusive of Ore Reserves.
7. The Teutonic Bore Resource estimate is reported in accordance with JORC Code 2012 reporting guidelines. The model is unchanged from
the 2009 model.
8. 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 8: Jaguar Operation – June 2016 Ore Reserves (and 2015 comparison)
Ore Reserves - 30 June 2015 Ore Reserves - 30 June 2016
Tonnes Grade Tonnes Grade
Classification (t)
Cu
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t) (t)
Cu
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t)
Bentley Proved 323,000 2.0 10.8 155 0.8 277,000 1.8 9.7 157 0.8
Probable 821,000 1.6 6.3 115 0.7 1,157,000 1.0 9.5 142 0.7
Sub-Total 1,144,000 1.7 7.6 126 0.7 1,434,000 1.1 9.5 145 0.8
Stockpiles Proved 13,000 1.1 9.2 121 0.6 4,000 1.7 9.3 138 0.7
GRAND TOTAL 1,157,000 1.7 7.6 126 0.7 1,438,000 1.1 9.5 145 0.8
Notes:
1. Cut-off values were based on NSR values of $134/t ore or direct mill feed and $80/t ore for marginal feed.
2. Revenue factor inputs (US$): Copper price $5,540/t, Zinc price $2,020/t, Silver price $17.00/oz, Gold price $1,200/oz and foreign exchange rate
of A$1.00 : US$0.75.
3. The following metallurgical recovery factors have been used: 85.0% Cu recovery into Cu concentrate, 45.0% Ag recovery into Cu concentrate,
32.0% Au recovery into Cu concentrate, 86.0% Zn recovery into Zn concentrate and 16.0% Ag recovery into the Zn concentrate.
4. Longitudinal sub-level long hole stoping with unconsolidated rock fill is the primary method of mining.
5. All Measured Resources and associated dilution was classified as Proved Reserves. All Indicated Resources and associated dilution was
classified as Probable Reserves. No Inferred Resources has been converted into Reserves.
6. All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
7. 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