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Endomines’ gold projects along the Karelian Gold Line in Ilomantsi.

Description of Gold Deposits

Endomines Oy operates in the Karelian Gold Line in eastern Finland.

The Karelian Gold Line mineralisations are of Archaean age meaning that they were formed more than 2 500 million years ago. Usually gold is found as individual grains or together with sulphides, oxides or tellurides in quartz veins, breccias or shear zones. These orogenic mineralisations are considered to be formed so that gold has leached out from the surrounding bedrock during intensive shearing and precipitate again in structural traps doe to the changes in the pressure and temperature. 

Ore Reserves and Mineral Resources


Table 1. Endomines Mineral Reserves and Resources Summary

Gold ore reserves - Karelian Gold Line  (status Dec 31 2016)

  
DepositTonnesGrade
Au g/t
OzkgClassificationPrepared byNote
Pampalo 100 000 2,4 7 716 240 Proven Endomines (1)
  60 000 2,7 5 208 162 Probable Endomines (1)
SubTotal 160 000 2,5 12 925 402     (1)
Pampalo East 32 000 1,3 1 358 42 Probable Endomines update (JK-Kaivossuunnittelu Oy design 2015) (2)
Pampalo Reserves total 192 000 2,3 14 283 444      
               
The Indicated and Inferred Mineral Resources are additional to the Ore Reserves  
               

Mineral Resources – Karelian Gold Line  (status Dec 31 2016) 

 
DepositTonnesGrade
Au g/t
OzkgClassificationPrepared by 
Pampalo 31 000 3,2 3 189 99 Indicated Endomines (3)
Pampalo 127 000 3,5 14 291 445 Inferred Endomines (3)
Pampalo D-zone 170 000 2,0 11 095 345 Inferred Endomines (3)
Pampalo East 199 000 1,8 11 452 356 Indicated Endomines (4)
Pampalo East 62 000 1,4 2 791 87 Inferred Endomines (4)
Pampalo NW 29 000 2,5 2 284 71 Indicated Endomines (5)
Pampalonlammit 103 000 1,8 5 961 185 Inferred Endomines (5)
Pampalo Resources total 721 000 2,2 51 064 1 588      
Hosko 35 000 4,1 4 557 142 Measured Geoconsulting Parkkinen (6)
Hosko 675 000 1,2 25 761 801 Indicated Geoconsulting Parkkinen (6)
Hosko 240 000 0,8 6 019 187 Inferred Geoconsulting Parkkinen (6)
Rämepuro 136 000 2,3 9 926 309 Inferred Geoconsulting Parkkinen (7)
Muurinsuo 354 000 1,9 22 080 687 Indicated Endomines (8)
Muurinsuo 231 000 1,4 10 398 323 Inferred Endomines (8)
Kuivisto East 37 000 3,2 3 807 118 Indicated MAPTEK  
Kuivisto East 145 000 1,0 4 662 145 Inferred MAPTEK  
Kuittila 275 000 2,6 22 988 715 Inferred GSF, historical  
Korvilansuo 256 000 2,0 16 461 512 Inferred Outotec (Finland) Oy (9)
Grand total 3 105 000 1,8 177 721 5 528      
               
Reserves and Resources estimated according the JORC-code (except Kuittila), all figures independently rounded  
               
(1) Cut-off 1,5 g/t; top cut 10-20 g/t gold; waste rock dilution 10-20%; ore loss: stoping 5%; drifting not modelled separately  
(2) Cut-off 0,5 g/t; top cut 7 g/t gold; waste rock dilution 15%; ore loss 10%       
(3) Cut-off 1,5 g/t; top cut 10-20 g/t gold         
(4) Cut-off 0,5 g/t; top cut 7 g/t gold         
(5) Cut-off 0,5 g/t; top cut 10 g/t gold         
(6) Cut off 0,5 g/t; top cut 11g/t (low grade domain) or 50 g/t gold (high grade domain)   
(7) Cut-off 0,5 g/t, top cut 40 g/t gold         
(8) Cut-off 0,5 g/t, top cut 10 g/t gold         
(9) Cut-off 0,5 g/t gold; no top cut         
Troy ounce =31,1035         

Kalvinit’s Ilmenite Deposits

Kalvinit’s ilmenite deposits are located in Kälviä area in central Ostrobothnia. The Company owns five deposits: Koivu, Kaire, Perä, Riutta and Lyly. These are described in the section ”Kälviä”.


Kalvinit’s deposits in Kälviä. Source: Geological Survey of Finland.


Mineral Resources – Ilmenite

Ilmenite
deposit
Cut-off
(%)
Tonnage
(Mt)
TiO2
(%)
Magnetite
(%)
TiO2
(kt)
Magnetite
(kt)
Classifi-
cation
Reporting
method
Note
 
Koivu 4 32,16 7,8 5,0 2494 1617 Indicated JORC 1)
Koivu 4 29,99 6,7 4,5 1998 1358 Inferred JORC 1)
 
Kaire 4 6,44 10,0 9,8 645 630 Indicated JORC 1)
Kaire 4 0,1 7,3 7,3 8 8 Inferred JORC 1)
 
Perä 6 2,9 9,3 N/A 270 N/A Inferred JORC 2)
Perä 8 2,5 9,6 N/A 240 N/A Inferred JORC 2)
 
Riutta 6 0,8 8,9 N/A 71 N/A Inferred JORC 2)
 
Lyly N/A 1,7 15,5 12,4 N/A N/A Inferred Historical 3)
 

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