Centerra Gold's Kemess Preliminary Economic Assessment Highlights Strong Economics that Support the Company's Long-Term Growth Pipeline

Original announcement by tmx on Jan 19, 2026

Bullish

Company: Centerra Gold Inc.
Ticker: CG
Exchange: TSX
Region: British Columbia
Primary commodity: Gold
Secondary commodities: Copper, Silver
Document categories: Resource update, Economic study
Extracted: 2026-09-19 15:14:54 UTC

Minestarters Atlas analysis

Summary

Centerra Gold announced robust economics from a Preliminary Economic Assessment (PEA) for its Kemess gold-copper project in British Columbia, reporting an after-tax NPV 5% of $1.1 billion and an IRR of 16.4% based on long-term metal prices. The study outlines a 15-year mine life with integrated open pit and underground mining, leveraging existing infrastructure. The company also updated its mineral resource estimate, showing 3.3 million ounces of gold and 1.1 billion pounds of copper in the indicated category, and 3.6 million ounces of gold and 1.2 billion pounds of copper in the inferred category.

Reasoning: The document presents a Preliminary Economic Assessment (PEA) for the Kemess project, showing strong economics with a $1.1 billion after-tax NPV5% and 16.4% IRR at long-term prices, increasing significantly at spot prices. The project benefits from existing infrastructure and an updated, expanded resource base. However, as a PEA, it is preliminary and relies on a substantial inferred resource component, which introduces geological and economic uncertainty. The high assumed gold price for the base case also warrants caution.

Positive factors

Robust economics with strong NPV and IRR for a PEA stage project.
Significant resource base with potential for further expansion.
Leverages existing infrastructure, reducing execution risk.
Integrated open pit and underground mining strategy optimizes operations.
Strong leverage to higher metal prices, significantly increasing project value at spot prices.
Project is unencumbered by gold or copper streams, allowing for greater value retention.
Permitting is well advanced with established First Nations relationships.

Negative factors

PEA is preliminary in nature and includes inferred mineral resources, which are speculative.
Inferred resources constitute a significant portion of the total resource, limiting confidence.
The PEA evaluates only a subset (47%) of the total indicated and inferred resource tonnes, indicating potential for future changes.
The study uses a relatively high gold price assumption ($3,000/oz) compared to historical averages, though spot prices are higher.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 33

Classification and evidence

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: A current resource fact retains the disclosed cut-off grade

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The source explicitly discloses a revised resource estimate

Evidence · text

“updated mineral resource”

Extracted facts

Stored fact records: 30. Some facts used in scoring do not have a stored record.

Resource Estimates (30)

indicatedKemess · goldTonnes: 170513000Grade: 0.3Grade Unit: g/tContained Metal: 1668000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:871dc0e28ce07cf869d2
Deposit or zone: Open Pit – Kemess Main
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 170513000
Grade: 0.3
Grade Unit: g/t
Contained Metal: 1668000
Contained Unit: koz
Cutoff Grade: 12.01
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 142570000
Prior Grade: 0.32
Prior Contained Metal: 1467000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: This indicated gold resource for Kemess Main is substantial and shows growth from the previous estimate, which is positive. The NI 43-101 compliance and QP sign-off add credibility. However, the slight grade decrease and the fact that only a portion of the resource is included in the PEA are noted.

Positive factors

Significant indicated gold resource in the main open pit zone.
Increase in contained gold from the prior estimate, indicating resource growth.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Grade has slightly decreased compared to the prior estimate.
The PEA only evaluates a subset of the total resource.

Evidence · table

“1,668”

Context: 170,513

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 170513000 against 142570000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.3 against 0.32 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 1668000 against 1467000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · copperTonnes: 170513000Grade: 0.15Grade Unit: %Contained Metal: 575000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:871dc0e28ce07cf869d2
Deposit or zone: Open Pit – Kemess Main
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 170513000
Grade: 0.15
Grade Unit: %
Contained Metal: 575000000
Contained Unit: mlbs
Cutoff Grade: 12.01
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 142570000
Prior Grade: 0.16
Prior Contained Metal: 503000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: This indicated copper resource for Kemess Main is substantial and shows growth from the previous estimate, which is positive. The NI 43-101 compliance and QP sign-off add credibility. However, the slight grade decrease and the fact that only a portion of the resource is included in the PEA are noted.

Positive factors

Significant indicated copper resource in the main open pit zone.
Increase in contained copper from the prior estimate, indicating resource growth.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Grade has slightly decreased compared to the prior estimate.
The PEA only evaluates a subset of the total resource.

Evidence · table

“575”

Context: 170,513

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 170513000 against 142570000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.15 against 0.16 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 575000000 against 503000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · silverTonnes: 170513000Grade: 1.12Grade Unit: g/tContained Metal: 6155000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:c8589fa5b8d3367bdbd9
Deposit or zone: Open Pit - Main Zone
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 170513000
Grade: 1.12
Grade Unit: g/t
Contained Metal: 6155000
Contained Unit: koz
Cutoff Grade: 12.01
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The indicated silver resource contributes to the overall metal endowment, but its byproduct nature and the existing stream arrangement mean it has less direct impact on the company's economics. The lack of a prior estimate for silver makes it difficult to assess growth.

Positive factors

Indicated silver resource adds to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“6,155”

Context: 170,513

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · goldTonnes: 13204000Grade: 0.37Grade Unit: g/tContained Metal: 158000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6a7374211916aa5aa93d
Deposit or zone: Open Pit – Kemess South
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 13204000
Grade: 0.37
Grade Unit: g/t
Contained Metal: 158000
Contained Unit: koz
Cutoff Grade: 9.98
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The addition of an indicated gold resource at Kemess South is a positive development, contributing to the project's scale. Its novelty is high as it's a new entry in the indicated category. Credibility is supported by NI 43-101 compliance and QP sign-off.

Positive factors

New indicated gold resource from Kemess South, adding to the overall resource base.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

The PEA only evaluates a subset of the total resource, and it's unclear if this zone is included in the current PEA mine plan.

Evidence · table

“158”

Context: 13,204

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · copperTonnes: 13204000Grade: 0.13Grade Unit: %Contained Metal: 38000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6a7374211916aa5aa93d
Deposit or zone: Open Pit – Kemess South
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 13204000
Grade: 0.13
Grade Unit: %
Contained Metal: 38000000
Contained Unit: mlbs
Cutoff Grade: 9.98
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The addition of an indicated copper resource at Kemess South is a positive development, contributing to the project's scale. Its novelty is high as it's a new entry in the indicated category. Credibility is supported by NI 43-101 compliance and QP sign-off.

Positive factors

New indicated copper resource from Kemess South, adding to the overall resource base.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

The PEA only evaluates a subset of the total resource, and it's unclear if this zone is included in the current PEA mine plan.

Evidence · table

“38”

Context: 13,204

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · silverTonnes: 13204000Grade: 0.68Grade Unit: g/tContained Metal: 289000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:4fe9a30c91f9a5c9f022
Deposit or zone: Open Pit - Kemess South
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 13204000
Grade: 0.68
Grade Unit: g/t
Contained Metal: 289000
Contained Unit: koz
Cutoff Grade: 9.98
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The addition of an indicated silver resource at Kemess South is a positive development, contributing to the project's scale. Its novelty is high as it's a new entry in the indicated category. Credibility is supported by NI 43-101 compliance and QP sign-off.

Positive factors

New indicated silver resource from Kemess South, adding to the overall resource base.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“289”

Context: 13,204

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · goldTonnes: 33223000Grade: 0.82Grade Unit: g/tContained Metal: 877000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:360d334b96a73080a69f
Deposit or zone: Underground - Kemess UG
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 33223000
Grade: 0.82
Grade Unit: g/t
Contained Metal: 877000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 25347000
Prior Grade: 0.91
Prior Contained Metal: 745000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The indicated gold resource for Kemess UG is substantial and shows growth in contained metal, which is positive. The NI 43-101 compliance and QP sign-off add credibility. However, the grade decrease is a minor negative.

Positive factors

Significant indicated gold resource for the underground zone, showing growth in contained metal.
Resource estimate is NI 43-101 compliant and signed off by a QP.
This zone is included in the PEA mine plan.

Negative factors

Grade has decreased compared to the prior estimate.

Evidence · table

“877”

Context: 33,223

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 33223000 against 25347000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.82 against 0.91 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 877000 against 745000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · copperTonnes: 33223000Grade: 0.36Grade Unit: %Contained Metal: 265000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:360d334b96a73080a69f
Deposit or zone: Underground - Kemess UG
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 33223000
Grade: 0.36
Grade Unit: %
Contained Metal: 265000000
Contained Unit: mlbs
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 25347000
Prior Grade: 0.39
Prior Contained Metal: 217000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The indicated copper resource for Kemess UG is substantial and shows growth in contained metal, which is positive. The NI 43-101 compliance and QP sign-off add credibility. However, the grade decrease is a minor negative.

Positive factors

Significant indicated copper resource for the underground zone, showing growth in contained metal.
Resource estimate is NI 43-101 compliant and signed off by a QP.
This zone is included in the PEA mine plan.

Negative factors

Grade has decreased compared to the prior estimate.

Evidence · table

“265”

Context: 33,223

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 33223000 against 25347000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.36 against 0.39 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 265000000 against 217000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · silverTonnes: 33223000Grade: 2.48Grade Unit: g/tContained Metal: 2652000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:360d334b96a73080a69f
Deposit or zone: Underground - Kemess UG
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 33223000
Grade: 2.48
Grade Unit: g/t
Contained Metal: 2652000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Positive factors

Indicated silver resource for the underground zone, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“2,652”

Context: 33,223

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · goldTonnes: 27491000Grade: 0.64Grade Unit: g/tContained Metal: 565000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:d08cb12e94ed1221cdcc
Deposit or zone: Underground - Kemess East
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 27491000
Grade: 0.64
Grade Unit: g/t
Contained Metal: 565000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 25074000
Prior Grade: 0.66
Prior Contained Metal: 531000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The indicated gold resource for Kemess East shows growth in contained metal, which is positive. The NI 43-101 compliance and QP sign-off add credibility. However, the slight grade decrease and its exclusion from the current PEA mine plan are noted.

Positive factors

Indicated gold resource for the Kemess East underground zone, showing growth in contained metal.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Grade has slightly decreased compared to the prior estimate.
This zone is not explicitly stated to be part of the current PEA mine plan.

Evidence · table

“565”

Context: 27,491

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 565000 against 531000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · copperTonnes: 27491000Grade: 0.44Grade Unit: %Contained Metal: 268000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:d08cb12e94ed1221cdcc
Deposit or zone: Underground - Kemess East
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 27491000
Grade: 0.44
Grade Unit: %
Contained Metal: 268000000
Contained Unit: mlbs
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 25074000
Prior Grade: 0.45
Prior Contained Metal: 251000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The indicated copper resource for Kemess East shows growth in contained metal, which is positive. The NI 43-101 compliance and QP sign-off add credibility. However, the slight grade decrease and its exclusion from the current PEA mine plan are noted.

Positive factors

Indicated copper resource for the Kemess East underground zone, showing growth in contained metal.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Grade has slightly decreased compared to the prior estimate.
This zone is not explicitly stated to be part of the current PEA mine plan.

Evidence · table

“268”

Context: 27,491

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 268000000 against 251000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · silverTonnes: 27491000Grade: 1.91Grade Unit: g/tContained Metal: 1684000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:d08cb12e94ed1221cdcc
Deposit or zone: Underground - Kemess East
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 27491000
Grade: 1.91
Grade Unit: g/t
Contained Metal: 1684000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Positive factors

Indicated silver resource for the Kemess East underground zone, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“1,684”

Context: 27,491

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · goldTonnes: 244431000Grade: 0.42Grade Unit: g/tContained Metal: 3269000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:aba0d971d18d2b763d7e
Deposit or zone: Total Indicated
Mining method: combined
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 244431000
Grade: 0.42
Grade Unit: g/t
Contained Metal: 3269000
Contained Unit: koz

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 192990000
Prior Grade: 0.44
Prior Contained Metal: 2742000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The total indicated gold resource is substantial and has grown significantly in contained metal, which is a strong positive. The NI 43-101 compliance and QP sign-off add credibility. However, the slight grade decrease and the partial inclusion in the PEA are noted.

Positive factors

Significant total indicated gold resource, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Overall indicated grade has slightly decreased.
Only a subset of this total resource is included in the current PEA mine plan.

Evidence · table

“3,269”

Context: 244,431

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 244431000 against 192990000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 3269000 against 2742000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · copperTonnes: 244431000Grade: 0.21Grade Unit: %Contained Metal: 1146000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:aba0d971d18d2b763d7e
Deposit or zone: Total Indicated
Mining method: combined
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 244431000
Grade: 0.21
Grade Unit: %
Contained Metal: 1146000000
Contained Unit: mlbs

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 192990000
Prior Grade: 0.23
Prior Contained Metal: 971000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The total indicated copper resource is substantial and has grown significantly in contained metal, which is a strong positive. The NI 43-101 compliance and QP sign-off add credibility. However, the slight grade decrease and the partial inclusion in the PEA are noted.

Positive factors

Significant total indicated copper resource, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Overall indicated grade has slightly decreased.
Only a subset of this total resource is included in the current PEA mine plan.

Evidence · table

“1,146”

Context: 244,431

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 244431000 against 192990000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.21 against 0.23 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 1146000000 against 971000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

indicatedKemess · silverTonnes: 244431000Grade: 1.37Grade Unit: g/tContained Metal: 10780000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:aba0d971d18d2b763d7e
Deposit or zone: Total Indicated
Mining method: combined
Ownership percent: 100 %

Resource Data

Category: indicated
Tonnes: 244431000
Grade: 1.37
Grade Unit: g/t
Contained Metal: 10780000
Contained Unit: koz

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The total indicated silver resource contributes to the overall metal endowment, but its byproduct nature and the existing stream arrangement mean it has less direct impact on the company's economics. The lack of a prior estimate for silver makes it difficult to assess growth.

Positive factors

Significant total indicated silver resource, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“10,780”

Context: 244,431

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · goldTonnes: 237050000Grade: 0.3Grade Unit: g/tContained Metal: 2299000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:d00f585f5cb51e8196a2
Deposit or zone: Open Pit – Kemess Main
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 237050000
Grade: 0.3
Grade Unit: g/t
Contained Metal: 2299000
Contained Unit: koz
Cutoff Grade: 12.01
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 124428000
Prior Grade: 0.31
Prior Contained Metal: 1232000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred gold resource for Kemess Main shows significant growth, which is positive for future potential. However, its inferred classification means it's speculative and contributes to the overall uncertainty of the PEA economics. The slight grade decrease is also noted.

Positive factors

Significant inferred gold resource, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Grade has slightly decreased compared to the prior estimate.
The PEA includes inferred resources, which introduces uncertainty.

Evidence · table

“2,299”

Context: 237,050

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 237050000 against 124428000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 2299000 against 1232000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · copperTonnes: 237050000Grade: 0.13Grade Unit: %Contained Metal: 682000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:d00f585f5cb51e8196a2
Deposit or zone: Open Pit – Kemess Main
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 237050000
Grade: 0.13
Grade Unit: %
Contained Metal: 682000000
Contained Unit: mlbs
Cutoff Grade: 12.01
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 124428000
Prior Grade: 0.14
Prior Contained Metal: 395000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred copper resource for Kemess Main shows significant growth, which is positive for future potential. However, its inferred classification means it's speculative and contributes to the overall uncertainty of the PEA economics. The slight grade decrease is also noted.

Positive factors

Significant inferred copper resource, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Grade has slightly decreased compared to the prior estimate.
The PEA includes inferred resources, which introduces uncertainty.

Evidence · table

“682”

Context: 237,050

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 237050000 against 124428000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.13 against 0.14 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 682000000 against 395000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · silverTonnes: 237050000Grade: 1.06Grade Unit: g/tContained Metal: 8108000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:962f933fb8fc083c5410
Deposit or zone: Open Pit - Main Zone
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 237050000
Grade: 1.06
Grade Unit: g/t
Contained Metal: 8108000
Contained Unit: koz
Cutoff Grade: 12.01
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred silver resource contributes to the overall metal endowment, but its inferred classification and byproduct nature mean it has less direct impact on the company's economics. The lack of a prior estimate for silver makes it difficult to assess growth.

Positive factors

Significant inferred silver resource, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“8,108”

Context: 237,050

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · goldTonnes: 198000Grade: 0.34Grade Unit: g/tContained Metal: 2000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6a3488db1e6c81872b4a
Deposit or zone: Open Pit – Kemess South
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 198000
Grade: 0.34
Grade Unit: g/t
Contained Metal: 2000
Contained Unit: koz
Cutoff Grade: 9.98
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The addition of a small inferred gold resource at Kemess South is a new development, but its speculative nature and small size limit its immediate impact. Credibility is supported by NI 43-101 compliance and QP sign-off.

Positive factors

New inferred gold resource from Kemess South, adding to the overall resource base.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
The resource is relatively small.
The PEA only evaluates a subset of the total resource, and it's unclear if this zone is included in the current PEA mine plan.

Evidence · table

“2”

Context: 198

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · copperTonnes: 198000Grade: 0.08Grade Unit: %Contained Metal: 400000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6a3488db1e6c81872b4a
Deposit or zone: Open Pit – Kemess South
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 198000
Grade: 0.08
Grade Unit: %
Contained Metal: 400000
Contained Unit: mlbs
Cutoff Grade: 9.98
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The addition of a small inferred copper resource at Kemess South is a new development, but its speculative nature and small size limit its immediate impact. Credibility is supported by NI 43-101 compliance and QP sign-off.

Positive factors

New inferred copper resource from Kemess South, adding to the overall resource base.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
The resource is relatively small.
The PEA only evaluates a subset of the total resource, and it's unclear if this zone is included in the current PEA mine plan.

Evidence · table

“0.4”

Context: 198

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · silverTonnes: 198000Grade: 0.42Grade Unit: g/tContained Metal: 3000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:5d8e318c138cb61b3396
Deposit or zone: Open Pit - Kemess South
Mining method: open_pit
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 198000
Grade: 0.42
Grade Unit: g/t
Contained Metal: 3000
Contained Unit: koz
Cutoff Grade: 9.98
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The addition of a small inferred silver resource at Kemess South is a new development, but its speculative nature and small size limit its immediate impact. Credibility is supported by NI 43-101 compliance and QP sign-off.

Positive factors

New inferred silver resource from Kemess South, adding to the overall resource base.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
The resource is relatively small.
No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“3”

Context: 198

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · goldTonnes: 20094000Grade: 0.74Grade Unit: g/tContained Metal: 481000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6e03c6c3c18da4f918d1
Deposit or zone: Underground - Kemess UG
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 20094000
Grade: 0.74
Grade Unit: g/t
Contained Metal: 481000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 10821000
Prior Grade: 0.96
Prior Contained Metal: 335000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred gold resource for Kemess UG shows significant growth in contained metal, which is positive for future potential. However, its inferred classification and the notable grade decrease mean it's speculative and contributes to the overall uncertainty of the PEA economics.

Positive factors

Significant inferred gold resource for the underground zone, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Grade has decreased significantly compared to the prior estimate.
The PEA includes inferred resources, which introduces uncertainty.

Evidence · table

“481”

Context: 20,094

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 20094000 against 10821000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.74 against 0.96 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 481000 against 335000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · copperTonnes: 20094000Grade: 0.33Grade Unit: %Contained Metal: 148000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6e03c6c3c18da4f918d1
Deposit or zone: Underground - Kemess UG
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 20094000
Grade: 0.33
Grade Unit: %
Contained Metal: 148000000
Contained Unit: mlbs
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 10821000
Prior Grade: 0.4
Prior Contained Metal: 95000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred copper resource for Kemess UG shows significant growth in contained metal, which is positive for future potential. However, its inferred classification and the notable grade decrease mean it's speculative and contributes to the overall uncertainty of the PEA economics.

Positive factors

Significant inferred copper resource for the underground zone, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Grade has decreased significantly compared to the prior estimate.
The PEA includes inferred resources, which introduces uncertainty.

Evidence · table

“148”

Context: 20,094

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 20094000 against 10821000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.33 against 0.4 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 148000000 against 95000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · silverTonnes: 20094000Grade: 2.22Grade Unit: g/tContained Metal: 1433000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:6e03c6c3c18da4f918d1
Deposit or zone: Underground - Kemess UG
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 20094000
Grade: 2.22
Grade Unit: g/t
Contained Metal: 1433000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Positive factors

Inferred silver resource for the underground zone, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“1,433”

Context: 20,094

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · goldTonnes: 42252000Grade: 0.57Grade Unit: g/tContained Metal: 772000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:500d2b3b625a755c87e3
Deposit or zone: Underground - Kemess East
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 42252000
Grade: 0.57
Grade Unit: g/t
Contained Metal: 772000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 34010000
Prior Grade: 0.6
Prior Contained Metal: 661000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred gold resource for Kemess East shows growth in contained metal, which is positive for future potential. However, its inferred classification and the slight grade decrease mean it's speculative and contributes to the overall uncertainty. Its exclusion from the current PEA mine plan is also noted.

Positive factors

Significant inferred gold resource for the Kemess East underground zone, showing growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Grade has slightly decreased compared to the prior estimate.
This zone is not explicitly stated to be part of the current PEA mine plan.

Evidence · table

“772”

Context: 42,252

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 42252000 against 34010000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.57 against 0.6 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 772000 against 661000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · copperTonnes: 42252000Grade: 0.42Grade Unit: %Contained Metal: 393000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:500d2b3b625a755c87e3
Deposit or zone: Underground - Kemess East
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 42252000
Grade: 0.42
Grade Unit: %
Contained Metal: 393000000
Contained Unit: mlbs
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 34010000
Prior Grade: 0.44
Prior Contained Metal: 331000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The inferred copper resource for Kemess East shows growth in contained metal, which is positive for future potential. However, its inferred classification and the slight grade decrease mean it's speculative and contributes to the overall uncertainty. Its exclusion from the current PEA mine plan is also noted.

Positive factors

Significant inferred copper resource for the Kemess East underground zone, showing growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Grade has slightly decreased compared to the prior estimate.
This zone is not explicitly stated to be part of the current PEA mine plan.

Evidence · table

“393”

Context: 42,252

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 42252000 against 34010000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 393000000 against 331000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · silverTonnes: 42252000Grade: 1.92Grade Unit: g/tContained Metal: 2602000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:500d2b3b625a755c87e3
Deposit or zone: Underground - Kemess East
Mining method: underground
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 42252000
Grade: 1.92
Grade Unit: g/t
Contained Metal: 2602000
Contained Unit: koz
Cutoff Grade: 40.68
Cutoff Unit: $/tonne NSR

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Positive factors

Inferred silver resource for the underground zone, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“2,602”

Context: 42,252

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · goldTonnes: 299593000Grade: 0.37Grade Unit: g/tContained Metal: 3555000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: gold
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:a7940da68198d233c792
Deposit or zone: Total Inferred
Mining method: combined
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 299593000
Grade: 0.37
Grade Unit: g/t
Contained Metal: 3555000
Contained Unit: koz

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 169260000
Prior Grade: 0.41
Prior Contained Metal: 2228000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The total inferred gold resource is substantial and has grown significantly in contained metal, which is positive for future potential. However, its inferred classification and the overall grade decrease mean it's speculative and contributes to the overall uncertainty of the PEA economics.

Positive factors

Significant total inferred gold resource, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Overall inferred grade has decreased.
The PEA includes inferred resources, which introduces uncertainty.

Evidence · table

“3,555”

Context: 299,593

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 299593000 against 169260000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.37 against 0.41 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 3555000 against 2228000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · copperTonnes: 299593000Grade: 0.19Grade Unit: %Contained Metal: 1223000000Contained Unit: mlbsView all details

Link to this fact

Identity

Project: Kemess
Commodity: copper
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:a7940da68198d233c792
Deposit or zone: Total Inferred
Mining method: combined
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 299593000
Grade: 0.19
Grade Unit: %
Contained Metal: 1223000000
Contained Unit: mlbs

Prior Estimate

Resource Date: 2025-12-31
Prior Tonnes: 169260000
Prior Grade: 0.22
Prior Contained Metal: 821000000

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The total inferred copper resource is substantial and has grown significantly in contained metal, which is positive for future potential. However, its inferred classification and the overall grade decrease mean it's speculative and contributes to the overall uncertainty of the PEA economics.

Positive factors

Significant total inferred copper resource, showing substantial growth in contained metal from the prior estimate.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
Overall inferred grade has decreased.
The PEA includes inferred resources, which introduces uncertainty.

Evidence · table

“1,223”

Context: 299,593

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Tonnage Growthpositive

Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.

Why it applies: 299593000 against 169260000 previously

Grade Declinenegative

Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.19 against 0.22 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 1223000000 against 821000000 previously

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

inferredKemess · silverTonnes: 299593000Grade: 1.26Grade Unit: g/tContained Metal: 12146000Contained Unit: kozView all details

Link to this fact

Identity

Project: Kemess
Commodity: silver
Region: canada_bc
Reported Region: British Columbia
Ticker: CG

Resource scope

Estimate type: resource
Effective date: 2025-12-31T00:00:00.000Z
Reporting standards: ni_43_101
QP Signed: Yes
Qualified person names: Christopher Richings
Resource group id: resource:a7940da68198d233c792
Deposit or zone: Total Inferred
Mining method: combined
Ownership percent: 100 %

Resource Data

Category: inferred
Tonnes: 299593000
Grade: 1.26
Grade Unit: g/t
Contained Metal: 12146000
Contained Unit: koz

Prior Estimate

Resource Date: 2025-12-31

Metal Equivalent

Assumptions Disclosed: Yes

Review

Needs Review: No
Historical: No

Dates

Event date: 2026-01-19T00:00:00.000Z

Reasoning: The total inferred silver resource contributes to the overall metal endowment, but its inferred classification and byproduct nature mean it has less direct impact on the company's economics. The lack of a prior estimate for silver makes it difficult to assess growth.

Positive factors

Significant total inferred silver resource, adding to the polymetallic nature of the deposit.
Resource estimate is NI 43-101 compliant and signed off by a QP.

Negative factors

Inferred resources are speculative and cannot be categorized as mineral reserves.
No prior estimate for silver is provided, making comparison difficult.
Silver is a byproduct and subject to a stream arrangement, reducing its direct economic impact for the company.

Evidence · table

“12,146”

Context: 299,593

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PEA-Supportingneutral

Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: the release names the study this estimate supports

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: the release names the study this estimate supports

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.