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MOPI chose to limit the MRE to the Normandie Tailings Pile (NMTP) as opposed to sampling the entire ACL landholdings due to the inherent cost implications. The Report findings on the NMTP are 100% in line with what the Company had anticipated. With a measured and indicated Mineral Resource Estimate (MRE) of 26.6M tonnes and a grade of 37.1% MgO, the Company could ultimately use its novel modular high purity MgO technology to build 10 plants, each producing 30,000 tonnes per year (TPY) of MgO and 33,000 TPY of amorphous silica for 30 years without having to seek another stockpile.
JPL GeoServices, a
The verification and validation of the database included a review of the geological model and continuity for each zone, as well as the methodology and parameters used for the estimate. NMTP consists of processed tailings with a narrow range of MgO% grades (33.38% to 38.74%). The authors stated that it is most likely that any re-processing of the pile would involve the entire pile, rather than selectivity by MgO% grade, and hence no cut-off grade was applied to the 2020 MRE. The MRE has an inherent cut-off grade at 35% with the minimum estimated block value of 35.03% MgO.
The 2020 MRE classified the majority of the material in the Measured + Indicated category, based on the processed data, the search ellipse criteria, the specific interpolation parameters and the confidence in the information provided (Table 1-2). The total Measured and Indicated Resources are estimated at 26.6 million tonnes grading 37.07% MgO and represent 98.3% of the total estimated tonnage of the NMTP. The Inferred Mineral Resources are estimated at 460 thousand tonnes grading 37.62% MgO and comprise the remaining 1.7% of the tonnage of the NMTP.
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(1)Mineral Resource estimates were calculated using the
Canadian Institute of Mining , Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by theCIM Standing Committee on Reserve Definitions .(2)Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The mineral resource estimate may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(3)The quantity and grade of estimated Inferred Resource reported herein are uncertain and there has been insufficient exploration to categorize them as an Indicated or Measured Resource. It is uncertain if further exploration will result in reclassification of Inferred Mineral Resources to the Indicated or Measured Mineral Resource categories.
(4)The Independent and Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is
Alex Horvath ,P.Eng .(A.S . Horvath Engineering), and the effective date of the estimate isJanuary 15th, 2020 .(5)Whereas the results are presented undiluted and in situ, the reported mineral resources are considered to have reasonable prospects for economic extraction.
(6)Resources were estimated using GEOVIA GEMS(TM) 6.6 software. The database used for the estimate contained assays from percussion drill-holes and excavated test pits.
(7)The number of metric tons was rounded to the nearest hundred. Any discrepancies in the totals are due to rounding effects. Rounding followed the recommendations in NI 43-101.
(8)Neither JPL GeoServices nor
A.S . Horvath Engineering are aware of any environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue, that could materially affect the current Mineral Resource Estimate
Gillian Holcroft, Eng.,
Signed: "Gillian Holcroft, Eng.,
On behalf of the Board, "
Neither the Canadian Securities Exchange nor
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