Polymetal: Prognoz initial Ore Reserve estimate (1132757)
17 Septiembre 2020 - 1:02AM
UK Regulatory
Polymetal International plc (POLY)
Polymetal: Prognoz initial Ore Reserve estimate
17-Sep-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY
Date 17 September 2020
*Polymetal International plc*
Prognoz initial Ore Reserve estimate
Polymetal announces initial JORC-compliant Ore Reserve estimate for Prognoz
of 142 Moz of silver ("Ag") at 560 g/t.
"The estimate confirms that Prognoz is one of the best silver development
projects globally", said Vitaly Nesis, CEO of Polymetal. "We will continue
to advance the project towards development".
Highlights
? The initial JORC-compliant open-pit Ore Reserve estimate as at 1 March
2020 comprises 7.9 Mt of ore with an average Ag grade of 560 g/t
containing 142 Moz of silver. Reserves have been assessed for Glavnaya
(Main), Boloto (Swamp) and Yuzhnaya (Southern) ore zones only.
? Reserve estimate is based on US$ 15/oz silver price with silver
representing approximately 90% of value contained at this price level.
? Mineral Resources additional to Ore Reserves are estimated at 5.6 Mt of
mineralized material with an average grade of 552 g/t for 100 Moz of
silver contained.
? The Preliminary Feasibility Study assumes 9 years of open-pit mining
with conventional flotation flowsheet producing clean high-grade
concentrate.
? The Company expects average annual production of 13.5 Moz of payable
silver at AISC in the range of US$ 8-9/oz.
? Total project's capital expenditures are expected to amount to US$ 319
million comprising US$ 250 million of pre-production CAPEX (including
pre-stripping costs) and US$ 69 million of maintenance CAPEX.
ORE RESERVE AND MINERAL RESOURCE STATEMENT
Prognoz Open Pit Ore Reserves[1]
Tonnage, Ag Grade, Ag Content,
Mt g/t Moz
Probable 7.88 560 142
Prognoz Additional Mineral Resources[2]
Tonnage, Ag Grade, Ag Content,
Mt g/t Moz
Indicated
Open Pit 1.67 519 28
Underground 0.98 508 16
Total Indicated 2.65 515 44
Inferred
Open Pit 2.17 626 44
Underground 0.79 475 12
Total Inferred 2.96 585 56
Indicated + Inferred
Open Pit 3.84 579 72
Underground 1.77 493 28
Total 5.61 552 100
Indicated + Inferred
ABOUT PROGNOZ
Prognoz is the largest undeveloped primary silver deposit in Russia. The
license is located in the Verkhoyansk municipal district in the Republic of
Sakha (Yakutia), Russia. The property is located approximately 980 km from
the regional center of Yakutsk (population of 300,000) and 720 km by road
from Polymetal's Nezhda project.
Silver-copper-lead-zinc mineralization, represented by
quartz-carbonate-sulphide veins, is located in a sequence of sedimentary
rocks composed of Triassic sandstones and siltstones. Nine mineralised zones
are defined, with Main and Swamp being the largest. Mineralized material is
partially oxidised with the depth of weathering varying widely dependent on
relief and proximity of water table. The deposit lies in a mountainous
region with elevations ranging from 300 m - 1,100 m above sea level. The
local topographic relief in the area of the exploration ranges in elevation
from 300 m to 350 m.
In April 2018, Polymetal consolidated 100% in the asset. In October 2018,
the Company completed JORC-compliant Mineral Resource estimate of 237 Moz of
silver at 731 g/t.
Competent persons
The information in this report that relates to the Mineral Resources is
based on and fairly represents information which has been compiled by Dmitry
Pertel. Mr. Pertel is employed full-time as the Principal Resource Geologist
at CSA Global Pty Ltd. He is a member of the Australian Institute of
Geoscientists.
The information in this report that relates to quality assurance/quality
control analysis is based on information compiled by Vladimir Kiskin. Mr.
Kiskin is employed full-time as the Head of Mineral Resources Department at
Polymetal International Plc. He is a Fellow of the Institute of Materials,
Minerals and Mining.
The information in this report that relates to the Ore Reserves is based on
and fairly represents information which has been compiled by Mr Paul
O'Callaghan. Mr. O'Callaghan is employed full-time as the Principal Mining
Engineer at CSA Global Pty Ltd. He is a Fellow of the Australasian Insitute
of Mining and Metallurgy.
All the above-mentioned have sufficient experience that is relevant to the
style of mineralisation and types of deposits under consideration and to the
activity being undertaken to qualify as a Competent Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves' (JORC Code).
All Competent Persons have given their consent to the inclusion in the
report of the matters based on their information in the form and context in
which it appears.
About Polymetal
Polymetal International plc (together with its subsidiaries - "Polymetal",
the "Company", or the "Group") is a top-10 global gold producer and top-5
global silver producer with assets in Russia and Kazakhstan. The Company
combines strong growth with a robust dividend yield.
Enquiries
*Media* *Investor Relations*
FTI +44 20 3727 Polymetal ir@polymetalinternational.com
Consulting 1000
Evgeny +44 20 7887 1475 (UK)
Leonid Fink Monakhov
Viktor Timofey
Pomichal Kulakov
+7 812 334 3666 (Russia)
Kirill
Kuznetsov
*Joint Corporate Brokers*
Morgan +44 20 7425 RBC Europe +44 20 7653 4000
Stanley & Co. 8000 Limited
International
plc
Marcus
Jackson
Andrew Foster
Jamil Miah
Richard Brown
Panmure
Gordon
Daniel Norman +44 20 7886
2500
John Prior
Forward-looking statements
This release may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements speak only as
at the date of this release. These forward-looking statements can be
identified by the use of forward-looking terminology, including the words
"targets", "believes", "expects", "aims", "intends", "will", "may",
"anticipates", "would", "could" or "should" or similar expressions or, in
each case their negative or other variations or by discussion of strategies,
plans, objectives, goals, future events or intentions. These forward-looking
statements all include matters that are not historical facts. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the company's control that
could cause the actual results, performance or achievements of the company
to be materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such
forward-looking statements are based on numerous assumptions regarding the
company's present and future business strategies and the environment in
which the company will operate in the future. Forward-looking statements are
not guarantees of future performance. There are many factors that could
cause the company's actual results, performance or achievements to differ
materially from those expressed in such forward-looking statements. The
company expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statements
are based.
=---------------------------------------------------------------------------
[1] This table represents the Ore Reserve estimate as at 1 March 2020 for
silver only using the US$ 15/oz silver price. Full disclosure of Ore Reserve
estimate in accordance with JORC Code (2012) will be soon available in the
CSA report on our web site in the Results center -
https://www.polymetalinternational.com/en/investors-and-media/reports-and-re
sults/result-centre/#tab-25 [1].
[2] This table represents Mineral Resource estimate as at 1 March 2020 for
silver only using US$ 15/oz silver price. Discrepancies in calculations are
due to rounding. Full disclosure of Mineral Resource estimate in accordance
with JORC Code (2012) will be soon available in the CSA report on our web
site in the Results center -
https://www.polymetalinternational.com/en/investors-and-media/reports-and-re
sults/result-centre/#tab-25 [1].
ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
Sequence No.: 84299
EQS News ID: 1132757
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=a612627d2c3178ba23be93695026292d&application_id=1132757&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
September 17, 2020 02:02 ET (06:02 GMT)
Polymetal (LSE:POLY)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Polymetal (LSE:POLY)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
