Golden Star Proven and Probable Mineral Reserves as at December 31, 2019.
Mineral Reserves
|
Dec 31, 2019 Proven Mineral Reserve
|
Dec 31, 2019 Probable Mineral Reserve
|
Dec 31, 2019 Proven and Probable Mineral Reserve
|
Dec 31, 2018 Proven and Probable Mineral Reserve
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Wassa Open Pit
|
-
|
-
|
-
|
9,920
|
1.57
|
500
|
9,920
|
1.57
|
500
|
9,920
|
1.57
|
500
|
Wassa Underground
|
1,723
|
4.11
|
228
|
5,701
|
3.61
|
661
|
7,424
|
3.72
|
889
|
7,481
|
3.95
|
949
|
Stockpiles
|
1,062
|
0.62
|
21
|
-
|
-
|
-
|
1,062
|
0.62
|
21
|
1,205
|
0.63
|
24
|
Subtotal Wassa
|
2,785
|
2.78
|
249
|
15,621
|
2.31
|
1,160
|
18,405
|
2.38
|
1,410 |
18,606
|
2.46
|
1,473
|
- The stated Mineral Reserves comply with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards – For Mineral Resources and Mineral Reserves”. Mineral Reserve estimates reflect the Company’s reasonable expectation that all necessary permits and approvals will be obtained and maintained. Mining dilution and mining recovery vary by deposit and have been applied in estimating the Mineral Reserves.
- Mineral Reserves are the economic portion of the Measured and Indicated Mineral Resources. Mineral Reserve estimates include mining dilution at grades assumed to be zero.
- The Mineral Reserves at December 31, 2019 were prepared under the supervision of Matt Varvari, VP Technical Services for the Company. Mr. Varvari is a QP as defined by NI 43-101.
- The Mineral Reserves at December 31, 2019 were estimated using a gold price assumption of $1,300 per ounce.
- The slope angles of all pit designs are based on geotechnical criteria as established by external consultants. The size and shape of the pit designs are guided by consideration of the results from a pit optimization program.
- Cut-off grades have been estimated based on operating cost projections, mining dilution and recovery, royalty and stream payment requirements and applicable metallurgical recovery.
- Marginal cut-off grade estimate for the Wassa open pit is 0.7 grams per tonne (“g/t”) of gold (“Au”).
- Break-even cut-off grade estimates for the underground mines are as follows: Wassa Underground 2.4 g/t Au; and the Prestea Underground Gold Mine (“Prestea Underground”) 7.5 g/t Au.
- Numbers may not add due to rounding.
- Only non-refractory material is included in Mineral Reserves.
Golden Star Measured and Indicated Mineral Resources as at December 31, 2019
Mineral and Indicated Mineral Resources
|
Dec 31, 2019 Measured Mineral Resources
|
Dec 31, 2019 Indicated Mineral Resources
|
Dec 31, 2019 Measured and Indicated Mineral Resources
|
Dec 31, 2018 Measured and Indicated Mineral Resources
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Tonnes (000)
|
Grade
g/t Au
|
Ounces (000)
|
Wassa Open Pit
|
-
|
-
|
-
|
29,179
|
1.29
|
1,206
|
29,179
|
1.29
|
1,206
|
28,042
|
1.39
|
1,254
|
Wassa Underground
|
2,831
|
4.99
|
454
|
13,371
|
3.66/span>
|
1,573
|
16,202
|
3.89
|
2,027
|
12,507
|
4.28
|
1,721
|
Father Brown Adoikrom UG
|
-
|
-
|
-
|
913
|
8.67
|
254
|
913
|
8.67
|
254
|
981
|
7.54
|
238
|
Wassa Other
|
-
|
-
|
-
|
2,512
|
2.32
|
187
|
2,512
|
2.32
|
187
|
2,308
|
2.36
|
175
|
Subtotal Wassa
|
2,831
|
4.99
|
454
|
45,975
|
2.18
|
3,221
|
48,806
|
2.34
|
3,675
|
43,839
|
2.40
|
3,388
|
Golden Star Inferred Mineral Resources as at December 31, 2019
|
December 31, 2019
Inferred Mineral Resources
|
DECEMBER 31, 2018
Inferred Mineral Resources
|
Tonnes
(000)
|
Grade g/t Au
|
Ounces (000)
|
Tonnes
(000)
|
Grade g/t Au
|
Ounces (000)
|
Wassa Open Pit
|
616
|
1.31
|
26
|
23
|
0.74
|
1
|
Wassa Underground
|
58,820
|
3.75
|
7,097
|
50,661
|
3.65
|
5,945
|
Father Brown Adoikrom UG
|
1,879
|
6.07
|
367
|
2,313
|
6.038
|
475
|
Wassa Other
|
421
|
2.11
|
29
|
382
|
2.10
|
26
|
Subtotal Wassa
|
61,737
|
3.79
|
7,518
|
53,379
|
3.76
|
6,446
|
- The Wassa Underground Mineral Resource has been estimated below the $1,500 per ounce of gold pit shell using an economic gold grade cut-off of 1.89 g/t Au, which the Company believes would be the lower cut-off grade for underground mining and constrained to a 0.4 g/t Au mineralized grade shell.
- The 2019 Mineral Resources were prepared under the supervision of Mitchel Wasel, VP Exploration for the Company. Mr. Wasel is a QP as defined by NI 43-101.
- The Father Brown Underground Mineral Resource has been estimated below the deepest mined topography using an economic gold grade cut-off of 3.1 g/t Au, which the Company believes would be the lower cut-off grade for underground mining.
- Mineral Resources were estimated using optimized pit shells at a gold price of $1,500 per ounce. Other than gold price, the same optimized pit shell and underground parameters and modifying factors used to determine the Mineral Reserves were used to determine the Mineral Resources.
- Mineral Resources are inclusive of Mineral Reserves.
- Numbers may not add due to rounding.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
Mr. S. Mitchel Wasel is a "Qualified Person" as defined by Canada's NI 43-101. Mineral Resources were prepared under the supervision of S. Mitchel Wasel, Vice President of Exploration for Golden Star.
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