The Hermosa property is located about 80 kilometres southeast of Tucson, Arizona, approximately 13 kilometres north of the U.S. border with Mexico. The property is 100% owned by Arizona Minerals Inc., which is 80% owned by Wildcat Silver.
Wildcat has increased Hermosa’s total resource base more than six times since its first estimate in 2007. The project currently hosts a measured and indicated resource of 236 million ounces of silver plus an inferred resource of 79 million ounces of silver. Hermosa’s current PEA estimates over 15 million ounces of silver production per year for the first five years of production, and a 16 year mine life. The Company expects to complete a pre-feasibility study by the end of the second quarter of 2013.
|
 |
Hermosa Mineral Resource Estimate
|
Zone
|
Type
|
Tonnes
(000)
|
Ag
(g/t)
|
Au
(g/t)
|
Mn
(%)
|
Zn
(%)
|
Cu
(%)
|
Contained Silver
Ounces (000s)
|
|
Measured Mineral Resource*
|
|
Manto
|
Oxide
|
36,744
|
66.64
|
0.09
|
7.12
|
1.81
|
0.07
|
78,725
|
|
Upper Silver
|
Mixed
|
57,038
|
29.64
|
0.07
|
0.85
|
0.12
|
0.02
|
54,360
|
|
Total Measured
|
93,782
|
44.14
|
0.07
|
3.31
|
0.78
|
0.04
|
133,085
|
|
Indicated Mineral Resource*
|
|
Manto
|
Oxide
|
39,713
|
41.52
|
0.06
|
5.69
|
1.66
|
0.06
|
53,008
|
|
Upper Silver
|
Mixed
|
60,685
|
25.36
|
0.06
|
0.95
|
0.16
|
0.02
|
49,481
|
|
Total Indicated
|
100,398
|
31.75
|
0.06
|
2.83
|
0.75
|
0.04
|
102,489
|
|
Measured and Indicated Mineral Resource*
|
|
Manto
|
Oxide
|
76,457
|
53.59
|
0.07
|
6.38
|
1.73
|
0.06
|
131,733
|
|
Upper Silver
|
Mixed
|
117,722
|
27.44
|
0.06
|
0.90
|
0.14
|
0.02
|
103,841
|
|
Total Measured & Indicated
|
194,180
|
37.73
|
0.07
|
3.06
|
0.77
|
0.04
|
235,574
|
|
Inferred Mineral Resource*
|
|
Zone
|
Type
|
Tonnes
(000)
|
Ag
(g/t)
|
Au
(g/t)
|
Mn
(%)
|
Zn
(%)
|
Cu
(%)
|
Contained Silver
Ounces (000s)
|
|
Manto
|
Oxide
|
21,747
|
39.56
|
0.06
|
7.03
|
2.79
|
0.10
|
27,662
|
|
Upper Silver
|
Mixed
|
57,764
|
27.65
|
0.06
|
0.85
|
0.17
|
0.02
|
51,346
|
|
Total Inferred
|
79,510
|
30.91
|
0.06
|
2.54
|
0.89
|
0.04
|
79,008
|
* The mineral resource is constrained within a Whittle optimized pit shell based on the following metal prices and recoveries: (Metal/Price/Recovery): Silver/$25.76 per oz/90%; Manganese/$0.60 per lb/95%; Zinc/$0.93 per lb/80%; Copper/$3.21 per lb/90%). The mineral resource is based on processing costs of US$27.55/tonne for the Manto Zone. The Upper Silver Zone mineral resource is tabulated using a silver cut-off grade of 8.57 g/t.
Previous mineral resources did not include a resource for gold as no metallurgical test work had been completed to prove its recovery or economic viability. As a result of recent test work the expected recovery included in the above table has been used and gold has been included in the total mineral resource. This mineral resource is reported on a 100% basis.