(see Orvana’s Annual Information Form dated December 29, 2021 for the fiscal year-ended September 31, 2021, pages 26-28)
Cautionary Notes to Investors - Mineral Reserves and Resources Estimates
In accordance with applicable Canadian securities regulatory requirements, all mineral reserve and mineral resource estimates of the Company disclosed have been prepared as at September 30, 2021 in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), classified in accordance with Canadian Institute of Mining Metallurgy and Petroleum's "CIM Standards on Mineral Resources and Reserves Definitions and Guidelines" (the "CIM Guidelines").
Pursuant to the CIM Guidelines, mineral resources have a higher degree of uncertainty than mineral Reserves as to their existence as well as their economic and legal feasibility. Inferred mineral resources, when compared with measured or indicated mineral resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Pursuant to NI 43-101, inferred mineral resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral Reserve, or is or will ever be economically or legally mineable or recovered.
In the first quarter of fiscal 2021, EMIPA engaged an independent engineering firm, DGCS Exploration and Mining Consulting (“DGCS”), to confirm the mineral resource and reserve estimates for the Oxides Stockpile at Don Mario as at September 30, 2020, which was published in the “Technical Report on Don Mario Oxide Stockpile,” dated December 29, 2020 by Mr. Gino Zandonai, M.Sc. Mining, CP, Mining Engineer, who is a qualified person independent of the Company for the purposes of NI 43-101 (Oxide Stockpile NI 43-101 Report”).
In the first quarter of fiscal 2022, EMIPA engaged the independent engineering firm DCGS to confirm the mineral resource for the Don Mario Tailings Reprocessing Project as at September 30, 2021, which was published in the “Technical Report on Don Mario Tailings Reprocessing Project, Eastern Bolivia,” dated December 23, 2021 by Mr. Gino Zandonai, M.Sc. Mining, CP, Mining Engineer, who is a qualified person independent of the Company for the purposes of NI 43-101 (Tailings NI 43-101 Report”).
In the second quarter of fiscal 2022, EMIPA engaged Caracle Creek International Consulting Inc. to prepare an updated technical report entitled "National Instrument 43-101 Technical Report for the Don Mario Property, Eastern Bolivia" (the "Don Mario Technical Report") and dated March 15, 2022. The Don Mario Technical Report merges the Oxide Stockpile NI 43-101 Report and the Tailings NI 43-101 Report and supersedes the prior reports. Mineral Resources and Reserves estimates as of September 30, 2021 of the Don Mario Property remain unchanged, as previously disclosed in the Annual Information Form for the year ended September 30, 2021.
The following tables summarize the estimates of mineral resources in situ for Las Tojas mine, and estimates of mineral reserves for the stockpile of oxides ores:
Mineral Resource Estimates
Tailings Reprocessing Project (TPR)
Table 1-1 provides the Mineral Resource Statement for the tailings of Indicated and Inferred Mineral Resources, with an effective date of 30 September 2021.
Table 1-1. Indicated and Inferred Mineral Resource Statement, Don Mario Tailings (effective date 30 Sept. 2021).