Karelian Gold Line

 

Map of deposits
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 – (status Nov 30 2017)

Deposit Tonnes Grade
Au g/t
Oz kg Classification Prepared by Note
Pampalo 223 513 2,8 20 111 626 Proven Endomines (1)
Pampalo East 32 000 1,3 1 358 42 Probable Endomines update (JK-Kaivossuunnittelu Oy design 2015) (2)
Grand total 255 513 2,6 21 470 668    

The Indicated and Inferred Mineral Resources are additional to the Ore ReservesGold

Mineral Resources – (status Nov 30 2017)

Deposit Tonnes Grade
Au g/t
Oz kg Classification Prepared by
Pampalo Deep 101 503 5,1 16 611 517 Indicated Endomines (3)
Pampalo Deep 118 125 5,4 20 341 633 Inferred Endomines (3)
Pampalo D-zone 164 110 1,9 9 912 308 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 776 738 2,8 69 352 2 157  
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 3 160 738 1,9 196 009 6 097  

Mineral Resources – (status Nov 30 2017)

 

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 10-30%; 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 = 31.1035g

 

Idaho

The Friday project is situated within the Orogrande Mining District (OMD), Idaho County, Idaho, USA, located 10 miles south-south-west of Elk City. Elk City is the nearest urban settlement to the project area, with the population varying seasonally, averaging approximately 300 people. Facilities at Elk City include a medical centre, post office, hotel, gas station, general store, and a gravel air-strip.

The Buffalo Gulch and Deadwood project sites are situated within the OMD of central Idaho, USA. The Buffalo Gulch project is situated two miles west of Elk City. The Deadwood project is located three miles south of the Buffalo Gulch site.

The Kimberley project is situated within the historic Marshall Lake mining district of southern Idaho County, Idaho, 20 miles south of the town of Riggins.

The Rescue project is a past producing lode gold project situated within the historic Warren mining district of Idaho County, Idaho.

The Rescue project is a past producing lode gold project situated within the historic Warren mining district of Idaho County, Idaho.

 

Friday project – Mineral Resources summary (status 8 January 2018)

Classification Cut-Off Grade (Au oz/ton) Tons (short tons) Au Grade (oz/ton) Au Contained Metal (oz)
Measured 0.100 270,371 0.198 53,437
0.125 174,964 0.245 42,876
0.150 126,000 0.287 36,209
Indicated 0.100 238,896 0.180 43,047
0.125 154,148 0.218 33,646
0.150 111,460 0.250 27,817
Measured + Indicated 0.100 509,267 0.189 96,484
0.125 329,112 0.233 76,522
0.150 237,460 0.270 64,026
Inferred 0.100 326,189 0.143 46,731
0.125 181,364 0.169 30,695
0.150 106,974 0.191 20,483

Buffalo Gulch project – Mineral Resources summary (status 8 January 2018)

Measured Indicated Measured + Indicated Inferred
Cut-Off Tons Grade Contained Tons Grade Contained Tons Grade Contained Tons Grade Contained
(oz/ton) (000’s) (oz/ton) (000’s oz) (000’s) (oz/ton) (000’s oz) (000’s) (oz/ton) (000’s oz) (000’s) (oz/ton) (000’s oz)
0.008 3,807 0.017 64.3 3,322 0.015 48.3 7,129 0.016 112.5 1,798 0.012 22.2
0.006 3,867 0.017 64.7 3,524 0.014 49.7 7,391 0.015 114.4 2,153 0.011 24.7
0.004 3,875 0.017 64.8 3,560 0.014 49.9 7,435 0.015 114.7 2,346 0.011 25.7

Kalvinit

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.
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)