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Balboa Copper Gold Discovery in Panama - June 2011

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Balboa Copper Gold Discovery in Panama - June 2011

Balboa Copper Gold Discovery in Panama - June 2011

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  • 1. Inmet’s Balboa Copper Gold Discovery June 1st, 2011 Webcast“Balboa grades and copper gold ratios are getting significantly better at depth”
  • 2. 2
  • 3. Colina Cobre Panama Resources 2010 Botija Measured and Indicated Resources* Inferred Resources* * from 2010 FEED report Valle Grande million Cu Au Ag Mo Cu Eq Cu Au Cu Eq tonnes (%) (g/t) (g/t) (%) (%)(a) (b lbs) (m ozs) (b lbs)(a) Proven 245 0.59 0.14 1.61 0.010 0.70 3.2 1.1 3.8 Probable 1,897 0.39 0.06 1.41 0.007 0.46 16.3 3.7 19.1 Proven and probable* 2,143 0.41 0.07 1.43 0.008 0.49 19.5 4.8 23.1 million Cu Au Ag Mo Cu Eq Cu Au Cu Eq tonnes (%) (g/t) (g/t) (%) (%) (b lbs) (m ozs) (b lbs) Measured 261 0.56 0.13 1.5 0.009 0.67 3.2 1.1 3.8 Indicated 3,010 0.34 0.06 1.2 0.006 0.40 22.6 5.8 26.6Measured and indicated 3,271 0.36 0.06 1.3 0.007 0.43 25.8 6.9 30.7 Inferred 3,194 0.24 0.04 1.0 0.005 0.29 16.9 4.1 20.2
  • 4. Cu P+P Reserves Cu Eq P+P Reserves 4
  • 5. 5
  • 6. Measured & BALBOADISCOVERY Second Crusher Site Plant Site Botija Crusher Site 6
  • 7. Holes previously reported New holes0.95 % Cu and 0.43 g/t Au (1.3 % CuEq)(b)over 200 m2.32 % Cu and 2.28 g/t Au (3.9 % CuEq)(b)over 124 m 7
  • 8. W 0.39% Cu 0.11 g/t Au 0.26% Cu 0.07 g/t Au ------------- E 221 m ------------- 317 m 0.55% Cu 0.19 g/t Au 0.41% Cu 0.49% Cu ------------- 0.63% Cu 0.06 g/t Au 0.14 g/t Au 277 m 0.24g/t Au ------------- ------------- 0.85% Cu 37 m 317 m 313 m 0.26 g/t Au 36 m 0.92% Cu1.41% Cu 0.40 g/t Au1.29 g/t Au 113 m ------------- 222 m 0.61% Cu 0.67% Cu 0.11 g/t Au 0.21 g/t Au 108 m 196m 2.32% Cu 2.28 g/t Au 124 m > 0.50% Cu 0 200 400 > 0.15% Cu metres 8
  • 9. S N 0.45% Cu 0.04 g/t Au ------------- 0.41% Cu 455 m 0.06 g/t Au 0.65% Cu ------------- 0.26 g/t Au 317 m ------------- 364 m 0.30% Cu 0.04 g/t Au ------------- 320 m 0.58% Cu 0.05 g/t Au 0.61% Cu 239 m 0.11 g/t Au 108 m 0.95% Cu 0.43 g/t Au 200 m 0.54% Cu 0.09 g/t Au 32 m 0 200 400 > 0.50% Cu metres > 0.15% Cu 9
  • 10. Intense stockworksClassic A veins in porphyry Bornite 10
  • 11. Contained Contained Contained Tonnes (1)Cu % Cutoff Cu % Au g/t Cu Eq % Cu Au CuEq (millions) (billions lbs) (millions ozs) (billions lbs)greater than 500 to 600 0.40 to 0.50 0.15 to 0.19 0.50 to 0.60 4.4 to 6.6 2.4 to 3.6 5.5 to 8.2 0.15greater than 300 to 360 0.55 to 0.65 0.20 to 0.30 0.70 to 0.85 3.6 to 5.4 2.1 to 3.2 4.5 to 6.7 0.30greater than 130 to 170 0.80 to 1.00 0.40 to 0.50 1.00 to 1.30 2.4 to 3.6 1.8 to 2.7 3.0 to 5.0 0.50(1) Copper Equivalent calculated using US $2.25/lb Cu, US $1000/oz Au, US $13.50/lb Mo and US$15.00/oz Ag and is not adjusted for metallurgical recoveries as these remain uncertain. Theformula used is as follows Cu Eq = Cu %+ (Au g/t x 0.65) + (Mo ppm / 1667) + (Ag g/t x 0.01)(2) UnderNational Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101), these potential tonnage and grade estimates are conceptual in nature, as there hasbeen insufficient exploration to define a mineral resource, and it is uncertain if furtherexploration will result in the targeted deposit being delineated as a mineral resource. 11
  • 12. Balboa Contour Plan Map0.15% Cu cut-offCuEq grade X thickness metres 12
  • 13. Oyu Tolgoi 1.5100 B lbs CuEq(c) kmCobre Panama 50+ B lbs CuEq(d) 1.5Not including km 11 km Balboa Hole CC11-10 Pebble160 B lbs CuEq(e) 1.5 km 13
  • 14. 14
  • 15. Cu Au % g/t First 10 year Feed in Current Mine Plan 0.55 0.110.30% Cu Cutoff Potential Mineralization Grade 0.60 0.25 Difference 1.1 X 2.3 X 15
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