Reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves – the JORC Code.
Mineral Resources as at 31st March 2007
Ore reserves as at 31st March 2007
Canadian Resources
Avebury Project
Total Mineral Resources on the 31st of March 2007 were 115.3 million tonnes containing 12.3% zinc, 1.9% lead and 49 grams per tonne of silver. Ore reserves were 50.0 million tonnes of ore containing 11.2% zinc, 1.3% lead and 32 grams per tonne of silver. This represents an overall decrease of 4.7 million tonnes in reserve (equivalent to 0.74Mt zinc, 0.08Mt lead and 3.11 million ozs silver, as contained metal) from the same time last year.
Acquired in the Allegiance Mining NL takeover in 2008, the Avebury resources are reported as of 31st December 2007 and are not included in the above Total Mineral Resources statement.
Mineral Resources and Ore Reserves conform to the Australasian Code for Reporting of Mineral Resources and Ore Reserves (The Joint Ore Reserves Committee Code – JORC). Total Resources include all the measured and indicated resources used to calculate the reserves.
Century Mine
The reserve decreased by 5.9 million tonnes during the year. Mining depletion accounted for 5.4 million tonnes of the decrease with the balance of 0.5 million tonnes lost mainly due to changes in the geological model, resulting in revisions to the mine design.
The resource decreased by 6.6 million tonnes during the year. Mining depletion accounted for the bulk of the decrease with an additional 1.7 million tonnes lost due to changes in the geological model and sterilization from haematite alteration and mining activities.
Rosebery Mine
The reserve increased by 1.2 million tonnes during the year. Mining depletion of 0.66 million tonnes were offset by conversion of resources to reserves and revisions to the existing models, resulting in the net gain.
The resource increased by 4.6 million tonnes (after mining depletion) due to a combination of a lower cut-off grade, extensions to known lenses and revision of existing resource models following infill drilling.
Avebury Mine
Zinifex completed the acquisition of 100% of Allegiance Mining NL, the owner of the Avebury nickel project in mid 2008. The Avebury resources and reserves are not included in the total resource and reserve figures for Zinifex for 2008 but will be included in future years. The information is included as a separate section for information purposes only.
Dugald River
The resource at Dugald River remains unchanged from 2006. The resource figures will be reviewed as part of the current Dugald River feasibility study.
Rosebery (1)
| Tonnes (m) | Zinc
% | Lead % | Silver g/t | Gold g/t | Copper % |
| Measured | 4.7 | 15.0 | 4.1 | 149 | 2.2 | 0.5 |
| Indicated | 0.8 | 16.3 | 4.6 | 159 | 3.4 | 0.6 |
| Inferred | 6.2 | 11.1 | 3.5 | 128 | 1.4 | 0.3 |
| TOTALS | 11.7 | 13.0 | 3.8 | 138 | 1.9 | 0.4 |
South Hercules(1)
| Tonnes
(m) | Zinc
% | Lead
% | Silver
g/t | Gold
g/t | Copper
% |
| Measured | | | | | | |
| Indicated | 1.1 | 2.7 | 1.4 | 99 | 1.6 | 0.1 |
| Inferred | | | | | | |
| TOTALS | 1.1 | 2.7 | 1.4 | 99 | 1.6 | 0.1 |
Century(2)
| Tonnes
(m) | Zinc
% | Lead
% | Silver
g/t |
| Measured | 45.7 | 12.8 | 1.4 | 32 |
| Indicated | 8.0 | 10.9 | 1.5 | 43 |
| Inferred | | | | |
| TOTALS | 53.7 | 12.5 | 1.4 | 33 |
Century Eastern Block(2)
| Tonnes
(m) | Zinc
% | Lead
% | Silver
g/t |
| MEASURED | | | | |
| Indicated | 0.6 | 8.3 | 0.9 | 31 |
| Inferred | 0.3 | 12.8 | 0.3 | 125 |
| TOTALS | 0.9 | 9.7 | 0.7 | 61 |
Dugald River(3)
| Tonnes
(m) | Zinc
% | Lead
% | Silver
g/t |
| Measured | | | | |
| Indicated | 31.9 | 12.6 | 2.0 | 44 |
| Inferred | 16.0 | 11.1 | 2.3 | 44 |
| TOTALS | 47.9 | 12.1 | 2.1 | 44 |
Total Resources are 115.3 million tonnes containing 12.3% zinc, 1.9% lead and 49 grams per tonne of silver.
Competent persons: 1. T. Ellice; 2. V. Patze; 3. C. Lutherborrow.
Rounding, conforming to the JORC Code, may cause some computational discrepancies.
Information in this report that relates to Mineral Resources is based on and accurately reflects reports prepared by the Competent Person named beside the information. All these people are full time employees of Zinifex or the relevant subsidiary, except for C.Lutherborrow, a Consulting Geologist acting for Zilloc Pty Limited, who consent to the inclusion of material in the form and context in which it appears. This resource report is prepared by P. W. Edwards, Principal Development Advisor – Resources, Zinifex Limited. All the Competent Persons are Members or Fellows of the Australasian Institute of Mining and Metallurgy or the Australian Institute of Geoscientists and have the relevant experience in relation to the mineralisation reported by them to qualify as Competent Persons as defined in the Australasian Code for Reporting of Mineral Resources and Ore Reserves.
Rosebery(4)
| Tonnes
(m) | Zinc
% | Lead
% | Silver
g/t | Gold
g/t | Copper
% |
| Proven | 3.78 | 12.0 | 3.3 | 116 | 1.7 | 0.4 |
| Probable | 0.04 | 6.8 | 1.8 | 44 | 0.6 | 0.2 |
| TOTAL | 3.82 | 11.9 | 3.2 | 115 | 1.7 | 0.4 |
Century(5)
| Tonnes
(m) | Zinc
% | Lead
% | Silver
g/t |
| Proven | 40.0 | 10.2 | 1.1 | 32 |
| Probable | 6.2 | 11.3 | 1.1 | 24 |
| TOTAL | 46.2 | 11.2 | 1.1 | 25 |
Total Reserves are 50.0 million tonnes of ore containing 11.2% zinc, 1.3% lead and 32 grams per tonne of silver (excluding Avebury).
Competent persons: 4. P.Shipp; 5. P. Hannigan.
Rounding, conforming to the JORC Code, may cause some computational discrepancies.
Information in this report that relates to Ore Reserves is based on and accurately reflects reports prepared by the Competent Person named beside the information. All these people are full time employees of Zinifex or the relevant subsidiary, who consent to the inclusion of material in the form and context in which it appears. This report is prepared by P. W. Edwards, Principal Development Advisor – Resources, Zinifex Limited. All the Competent Persons are Members or Fellows of the Australasian Institute of Mining and Metallurgy or the Australian Institute of Geoscientists and have the relevant experience in relation to the mineralisation reported by them to qualify as Competent Persons as defined in the Australasian Code for Reporting of Mineral Resources and Ore Reserves.
Zinifex's Canadian projects include the Izok Lake and High Lake base metal deposits which have reported resources compliant with the Canadian Standard National Instrument 43-101 "Standards of Disclosure for Mineral Projects". NI43-101 requires the use of the resource and reserve categories adopted by the Canadian Institute of Mining, metallurgy and Petroleum ("CIM"), the equivalent of the JORC Code used in Australia. These resources are reported below.
Izok Lake(6)
| | Tonnes(m) | Zinc % | Lead % | Silver g/t | Gold g/t | Copper % |
| Indicated | 14.4 | 12.9 | 1.3 | 71 | Trace | 2.5 |
| Inferred | 0.4 | 6.4 | 0.3 | 54 | Trace | 3.8 |
| TOTAL | 14.8 | 12.8 | 1.3 | 71 | Trace | 2.6 |
High Lake(7)
| | Tonnes(m) | Zinc % | Lead % | Silver g/t | Gold g/t | Copper % |
| Indicated | 17.20 | 3.4 | 0.3 | 70 | 1.0 | 2.3 |
| Inferred | 0.04 | 2.4 | 0.4 | 122 | 0.2 | 0.5 |
| TOTAL | 17.24 | 3.4 | 0.3 | 70 | 1.0 | 2.2 |
Total resources are 32 million tonnes containing 7.7% zinc, 0.7% lead, 2.4 % copper and 70 grams per tonne of silver.
Zinifex also owns the Ulu gold property in Nunavut containing NI43-101 compliant reported gold resources.
Ulu(7)
| | Tonnes (m) | Gold g/t |
| Indicated | 0.7 | 11.7 |
| Inferred | 0.4 | 10.7 |
| TOTAL | 1.1 | 11.3 |
Competent persons: 6. R. Carter, 7. G. H. Wahl.
Information in this report that relates to the Canadian Mineral Resources is based on and accurately reflects reports prepared by the Competent Person named beside the information. At the time the resource estimates were issued in 2006 R. Carter was a Consultant Geologist for Wardrop Engineering Inc and G. H. Wahl is a Consulting Geologist acting for G. H Wahl and Associates. This resource report is prepared by P. W. Edwards, Principal Development Advisor – Resources, Zinifex Limited. All the Competent Persons are Members or Fellows of the Australasian Institute of Mining and Metallurgy or the Australian Institute of Geoscientists or a 'Recognised Overseas Professional Organisation' (ROPO) and have the relevant experience in relation to the mineralisation reported by them to qualify as Competent Persons as defined in the Australasian Code for Reporting of Mineral Resources (The JORC Code – 2004 Edition).
In December 2007 Zinifex announced a takeover offer for 100% of the ordinary shares of Allegiance Mining NL. The acquisition of 100% of Allegiance was completed in mid 2008.
Allegiance owns the Avebury underground nickel mine in Tasmania, which is in the final stages of construction and commissioning with first concentrates for shipment expected in the second half of 2008.
Avebury mineral resources and ore reserves were announced in January 2008 and February 2008 respectively and in the 2007 Allegiance Mining NL Annual Report released in April 2008 and are included here for information purposes only. They do not form part of the official Zinifex Resource and Reserve Statement for 2008 but will be included in future years.
Resources and reserves are as at the 31st December 2007. Resources are inclusive of reserves.
Avebury Mineral Resources (8)
| Category | Tonnes
(m) | Nickel
% | Contained
Nickel
(Tonnes) |
| Measured | 9.76 | 0.88 | |
| Indicated | 6.05 | 1.01 | |
| Inferred | 2.37 | 1.03 | |
| TOTALS | 18.18 | 0.95 | 172,000 |
At a 0.4% Ni cut-off
Avebury Ore Reserves (9)
| Tonnes
(m) | Nickel
% | Contained
Nickel
(Tonnes) |
| Proven | 4.01 | 0.98 | 39,200 |
| Probable | 1.84 | 0.92 | 16,900 |
| TOTAL | 5.85 | 0.96 | 56,100 |
At a 0.7% Ni cut-off
Competent persons: 8. T. Callaghan, 9. A. Fudge.
Rounding, conforming to the JORC Code, may cause some computational discrepancies.
Information in this report that relates to Avebury Project is based on and accurately reflects reports prepared by the Competent Person named beside the information. Mr Tim Callaghan is a full-time employee of Allegiance Metals Pty Ltd who is a Member of The Australasian Institute of Mining and Metallurgy ("AusIMM"); has a minimum of fifteen years experience as a geologist, five of which are in the estimation, assessment and evaluation of Mineral Resources. Mr Alan Fudge is a consultant to Allegiance Metals Pty Ltd and Principal of Polberro Consulting. He is a Member of The Australasian Institute of Mining and Metallurgy ("AusIMM"); has a minimum of thirty years experience as a mining engineer, and more than ten years experience in the estimation, assessment and evaluation of Ore Reserves of this style.