Mineral Reserves and Resources


Mineral Reserves
CategoryTons
(000's)
Gold
(opt)
Gold
(g/t)*
Contained Gold
(oz)
Leach Pad Reserves
Probable7,2900.0150.51107,700
Less Material Remaining  -2600.0150.51-3,800
Total Probable7,0300.0150.51103,900
 
Run-of-Mine Reserves 
Proven2,4740.0471.61116,200
Probable1,2390.0321.11  40,100
Total Proven and Probable3,7130.0421.44156,300
 
Total Reserves
Proven2,4740.0471.61116,200
Probable8,2690.0170.60144,000
Total Proven and Probable10,7430.0240.83260,200
  1. Rounding as required by reporting guidelines may result in summation differences. Tonnage and grade measurements are in Imperial units. Grades are reported in ounces per ton.
  2. Leach Pad Mineral Reserves have an effective date of December 22, 2020 with the following assumptions: long-term gold price of $1,300/oz; assumed total ore process costs of $10.59/t; metallurgical recovery for gold of 91%, and 24% for silver, refining and smelting cost of $28.39/oz of gold. Allowance has been made for the facility location which excludes 260,000 t; this material must remain in-place, based on the heap material mining and tailings placement design.
  3. Run of Mine Mineral Reserves are effective as of December 22, 2020. Mineral Reserves are reported within the pit designs at a 0.01 opt gold cut-off grade. Pit designs incorporate the following considerations: base case gold price of $1,300/oz; pit slope angles that range from 38-47º; average life-of-mine metallurgical recovery assumption of 93%; crushing costs of $1.81/t, process cost of $5.79/t, general and administrative and tax costs of $2.90/t; and average mining costs of $1.42/t mined
  4. The Qualified Person for both estimates is Mr. Jeffery Choquette P.E., an employee of Hard Rock Consulting.
  5. *Titan shows g/t gold for reporting purposes only (1 oz./short ton = 34.2857 grams/tonne).
Mineral Resources
CategoryTons
(000's)
Gold
(opt)
Gold
(g/t)*
Contained Gold
(oz)
Leach Pad Resources
Indicated7,2900.0150.51107,700
Total Indicated7,2900.0150.51107,700
 
Run-of-Mine Resources
Measured2,0880.0742.55155,200
Indicated1,0950.0662.27  72,600
Total Measured and Indicated3,1830.0722.45227,800
 
Total Resources
Measured2,0880.0742.55155,200
Indicated8,3850.0220.74180,300
Total Measured and Indicated10,4730.0321.10335,500
  1. Rounding as required by reporting guidelines may result in summation differences. Tonnage and grade measurements are in Imperial units. Grades are reported in ounces per ton.
  2. Leach Pad Mineral Resources have an effective date of December 22, 2020 with the following assumptions: a long-term gold price of $1,216/oz; assumed process costs of $11/t; and metallurgical recovery for gold of 91%. Silver was not used in the consideration of reasonable prospects for eventual economic extraction. Silver recoveries from heap leach pad material are projected to be 24%.
  3. Run of Mine Mineral Resources have an effective date of December 22, 2020 and are reported within the pit designs at a 0.01 opt gold cut-off grade. These Mineral Resource are considered to be amenable to open-pit mining. Conceptual Whittle pit shells used the following assumptions: a long-term gold price of $1,350/oz; assumed combined operating costs of $12.36/t (mining, process, general and administrative); metallurgical recovery for gold of 95%, and variable pit slope angles that ranged from 38-42º. Mineral Resources are constrained to the area within the grade-shell wireframes. The areas outside of these grade shells are assumed to be at zero grade.
  4. The Qualified Person for both estimates is Mr. Ian Crundwell, P.Geo., of Mine Technical Services.
  5. Mineral Resources are quoted inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  6. *Titan shows g/t for reporting purposes only (1 oz./short ton = 34.2857 grams/tonne).

For additional information, refer to the Titan Technical Report entitled, “Mineral Ridge Project, Esmeralda County, Nevada, USA” having an effective date of December 22, 2020 and filed on sedar.com, and prepared by the following independent QPs: Todd Wakefield, RM-SME, Ian Crundwell, P. Geo. Jeff Choquette, P.E. Brian Arthur, RM-SME. Kevin Lutes, P.E., and Bruce Genereaux, RM-SME.”

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