Glossary of Technical Terms and Abbreviations
The following is a glossary of certain terms and abbreviations used in this website and documents contained or referenced herein:
|AISC||All-in Sustaining Costs. AISC is a non-GAAP measure calculated on a produced (contained) basis net of by-products, as defined by the World Gold Council|
|AKHM||Alexco Keno Hill Mining Corp.|
|Alexco||Alexco Resource Corp.|
|Assay||In economic geology, to analyze the proportions of metal in a rock or overburden sample; to test an ore or mineral for composition, purity, weight or other properties of commercial interest.|
|CIM||Canadian Institute of Mining, Metallurgy and Petroleum|
|Deposit||A mineralized body, which has been physically delineated by sufficient drilling, trenching, and/or underground work, and found to contain a sufficient average grade of metal or metals to warrant further exploration and/or development expenditures; such a deposit does not qualify as a commercially mineable ore body or as containing ore reserves, until final legal, technical, and economic factors have been resolved.|
|Dip||The angle at which a stratum or vein is inclined from the horizontal.|
|the District||Keno Hill Silver District|
|DSTF||Dry Stack Tailings Facility|
|ERDC||Elsa Reclamation & Development Company Ltd.|
|FNNND||First Nation Na-Cho Nyak Dun|
|Fold||A bend in strata or any planar structure|
|g/t||Grams per tonne|
|Grade||The amount of valuable metal in each tonne of mineralized rock, expressed as grams per tonne (“g/t”) for precious metals, as percent (%) for copper, lead and zinc.|
|G&A||General and administrative (costs)|
|Hectare||An area equal to 100 meters by 100 meters|
|Indicated Mineral Resource||That part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve|
|Inferred Mineral Resource||That part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration|
|IRR||Internal Rate of Return|
|Keno Hill||The Keno Hill Silver District, located in the Yukon Territory, Canada|
|Keno Hill PFS||NI 43-101 Technical Report Prefeasibility Study of the Keno Hill Silver District Project, Yukon Territory, effective March 28, 2019 and amended February 13, 2020, see also the NI 43-101 Technical report entitled to “Updated Mineral Resource and Reserve Estimate of the Keno Hill Silver District dated May 26, 2021.”|
|KHSD||Keno Hill Silver District|
|LH||Long hole stoping|
|LOM||Life of mine|
|Mt||Millions of tonnes|
|MCF||Mechanized Cut and Fill|
|Measured Mineral Resource||That part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. A Measured Mineral Resource has a higher level of confidence than that applying to either an Indicated Mineral Resource or an Inferred Mineral Resource. It may be converted to a Proven Mineral Reserve or to a Probable Mineral Reserve|
|Mineral Reserve, Proven Mineral Reserve, Probable Mineral Reserve||Mineral Reserves are sub-divided in order of increasing confidence into Probable Mineral Reserves and Proven Mineral Reserves. A Probable Mineral Reserve has a lower level of confidence than a Proven Mineral Reserve.
A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.
The reference point at which Mineral Reserves are defined, usually the point where the ore is delivered to the processing plant, must be stated. It is important that, in all situations where the reference point is different, such as for a saleable product, a clarifying statement is included to ensure that the reader is fully informed as to what is being reported.
The public disclosure of a Mineral Reserve must be demonstrated by a Pre- Feasibility Study or Feasibility Study. The terms “Mineral Reserve”, “Proven Mineral Reserve” and “Probable Mineral Reserve” used in this website are mining terms defined under CIM standards and used in accordance with NI 43-101.
Mineral Reserves, Proven Mineral Reserves and Probable Mineral Reserves presented under CIM standards may not conform with the definitions of “reserves” or “proven reserves” or “probable reserves” under United States Industry Guide 7.
|Mineral Resource, Measured Mineral Resource, Indicated Mineral Resource, Inferred Mineral Resource||Mineral Resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. An Inferred Mineral Resource has a lower level of confidence than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher level of confidence than an Inferred Mineral Resource but has a lower level of confidence than a Measured Mineral Resource.
A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the earth’s crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.
The terms “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource”, and “Inferred Mineral Resource” used in this website are mining terms defined under CIM standards and used in accordance with NI 43-101. They are not defined terms under United States Industry Guide 7 and generally may not be used in documents filed with the SEC by U.S. companies.
|Mineralization||The concentration of metals and their chemical compounds within a body of rock.|
|Modifying Factors||The factors used to convert Mineral Resources to Mineral Reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.|
|Mlb||Millions of pounds|
|Moz||Millions of ounces|
|NI 43-101||National Instrument 43-101 Standards of Disclosure for Mineral Projects.|
|NPV||Net present value|
|NPV5||Net present value at a 5% discount rate|
|NSR||Net smelter return|
|Ore||A metal or mineral or a combination of these of sufficient value as to quality and quantity to enable it to be mined at a profit after the application of Modifying Factors.|
|Ounce or oz||A troy ounce or twenty penny weights or 480 grains or 31.103 grams|
|Outcrop||An exposure of bedrock at the surface|
|Oz/t||Ounce per tonne|
|Probable Mineral Reserve||The economically mineable part of an Indicated Mineral Resource and, in some circumstances, a Measured Mineral Resource. The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proven Mineral Reserve.|
|Proven Mineral Reserve||The economically mineable part of a Measured Mineral Resource. A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors|
|PFS||A Pre-Feasibility Study is a comprehensive study of a range of options for the technical and economic viability of a mineral project that has advanced to a stage where a preferred mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, is established and an effective method of mineral processing is determined. It includes a financial analysis based on reasonable assumptions on the Modifying Factors and the evaluation of any other relevant factors which are sufficient for a Qualified Person, acting reasonably, to determine if all or part of the Mineral Resource may be converted to a Mineral Reserve at the time of reporting. A Pre-Feasibility Study is at a lower confidence level than a Feasibility Study.|
|PP&E||Property plant and equipment|
|Quartz||A mineral composed of silicon dioxide|
|Strike||Direction or trend of a geologic structure as it intersects the horizontal.|
|Ton (T)||Also referred to as “short ton”, a United States unit of weight equivalent to 2,000 pounds.|
|Tonne (t)||A metric unit of weight equivalent to volume multiplied by specific gravity; equivalent to 1.102 tons or 1,000 kilograms (2,204.6 pounds).|
|tpd||Tonnes per day|
|Vein||Thin sheet-like intrusion into a fissure or crack, commonly bearing siderite|
|Wheaton||Wheaton Precious Metals|
The following table sets forth the factors for converting between imperial measurements and metric equivalents:
|To Convert From||To||Multiply By|
|Grams/Tonnes||Ounces (Troy)/Short Ton||0.02917|
|Tonnes (metric)||Short Tons||1.1023|
|One troy ounce||Grams||31.103|