Projects

Historic Mineral Resource

In January 2018, the previous operator reported a Mineral Resource Estimate under the Joint Ore Reserves Committee ("JORC") 2012 guideline for Berenguela.

The Company cautions that an independent Qualified Person ("QP"), as defined in National Instrument 43-101 ("NI 43-101"), has not yet completed sufficient work on behalf of Aftermath Silver to classify the estimate as a current Measured, Indicated or Inferred Mineral Resource, and Aftermath Silver is not treating the historical estimate as a current Mineral Resource. Aftermath Silver will need to validate previous work to produce a mineral resource that is current for CIM purposes. Details of the historic Mineral Resource are found in Table 1.

Table 1. Historic 2018 Mineral Resource Estimate for the Berenguela Silver-Copper Project

Classification

Tonnes
(Mt)

Silver
(g/t)

Copper
(%)

Manganese
(%)

Zinc
(%)

Silver
(Koz)

Copper
(Klb)

Measured

7.71

104

0.99

8.68

0.34

25,717

168,040

Indicated

28.2

80

0.73

5.16

0.30

73,009

456,465

Measured + Indicated

35.9

85

0.79

5.91

0.30

98,725

624,505

Inferred

9.97

88

0.67

2.14

0.20

28,183

147,242

Notes on the Historic Mineral Resource Estimate

  1. 1. JORC-2012 definitions were followed for Mineral Resources.
  2. 2. Mineral Resources were estimated by P.Geo. Marcelo Batelochi, AusIMM Competent Person.
  3. 3. Grades are estimated by the Ordinary Kriging interpolation method using capped composite samples.
  4. 4. Bulk density has been estimated by Nearest Neighbour method and the average value is 2.82g/cm3.
  5. 5. The historic mineral resource uses a copper equivalent cut off of 0.5%, copper equivalents ("CuEq") were based on the formula CuEq (%) = Cu (%) + ((Ag (g/t) / 10000) in ounces x Ag price x silver recovery) / (Cu price x Cu recovery) + (Zn% x Zn price x Zn recovery) / (Cu price x Cu recovery). Assuming: Ag price $16.795/oz and Zn $3,150/t and recoveries of Ag 50%, Cu 85% and Zn 80%. Mn grades are not considered for CuEq calculations.
  6. 6.  Numbers may not add/multiply due to rounding.