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

Original announcement by tmx on

Company
Centerra Gold Inc.
Ticker
CG
Exchange
TSX
Region
British Columbia
Primary commodity
Gold
Secondary commodities
Copper, Silver
Document categories
Resource update, Production
Extracted
2026-08-21 03:10:49 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Centerra Gold announced robust economics from a Preliminary Economic Assessment (PEA) for its Kemess project in British Columbia, showing an after-tax NPV of $1.1 billion and an IRR of 16.4%. The PEA is supported by an updated and expanded mineral resource, which now includes 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. The study outlines an integrated open pit and underground mining strategy with a 15-year mine life, leveraging existing infrastructure and projecting average annual production of 171,000 ounces of gold and 61 million pounds of copper.

Reasoning: The Preliminary Economic Assessment for the Kemess project highlights robust economics with a significant after-tax NPV and IRR, supported by an expanded gold-copper-silver mineral resource. However, the PEA is preliminary and includes a substantial portion of inferred resources, and the average gold and copper grades have declined compared to the previous estimate.

Positive factors

  • Strong economics (NPV, IRR)
  • Expanded mineral resource
  • Integrated open pit and underground mining strategy
  • Leveraging existing infrastructure
  • Significant contained metal growth
  • NI 43-101 compliant resource
  • QP/CP sign-off
  • Strong copper recovery

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline in updated resource
  • Low gold recovery

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

Facts used in scoring: 54

Classification and evidence

Resource Updateneutral

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

Why it applies: The document announces an 'updated mineral resource' and the results of a PEA.

Evidence · text

“updated mineral resource”

PEA-Supportingneutral

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

Why it applies: The entire document is a Preliminary Economic Assessment (PEA) for the Kemess project.

Evidence · text

“Preliminary Economic Assessment”

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: Christopher Richings, Professional Engineer and Centerra’s Vice President, Technical Services, is named as the 'qualified person' who reviewed and approved the scientific and technical information.

Evidence · text

“Christopher Richings, Professional Engineer, member of the Engineers and Geoscientists British Columbia and Centerra’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Mr. Richings is a “qualified person” within the meaning of the Canadian Securities Administrator’s NI 43-101 Standards of Disclosure for Mineral Projects.”

NI 43-101 Compliantpositive

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

Why it applies: The technical report on Kemess will be prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Evidence · text

“A technical report on Kemess will be prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“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: The updated mineral resource shows significant increases in contained gold (from 2,742 koz to 3,269 koz indicated, and 2,228 koz to 3,555 koz inferred) and copper (from 971 Mlbs to 1,146 Mlbs indicated, and 821 Mlbs to 1,223 Mlbs inferred) compared to the previous estimate.

Evidence · text

“The updated mineral resource contains 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.”

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: The total indicated tonnage increased from 192,990 kt to 244,431 kt, and total inferred tonnage increased from 169,260 kt to 299,593 kt.

Evidence · table

“244,431”

Context: Total Indicated

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: The average gold grade for total indicated resources decreased from 0.44 g/t to 0.42 g/t, and for total inferred resources from 0.41 g/t to 0.37 g/t. Similarly, copper grades also declined.

Evidence · table

“0.42”

Context: Total Indicated

Inferred Resourcenegative

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

Why it applies: A significant portion of the updated mineral resource (299.6 million tonnes) is classified as Inferred, which is a speculative category.

Evidence · text

“The updated inferred mineral resource includes 299.6 million tonnes”

Cut-off Disclosedpositive

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

Why it applies: The document clearly states the Net Smelter Return (NSR) cut-off values for the Kemess Main open pit, Kemess South open pit, Kemess Underground, and Kemess East underground zones.

Evidence · text

“The Kemess Main open pit mineral resources (including the Nugget zone) are constrained by a pit shell and are reported based on a Net Smelter Return (“NSR”) cut-off of $12.01 per tonne”

Mill Routeneutral · Story-specific tag

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: The PEA mentions a 'processing plant refurbishment' and the production of 'gold-copper concentrate' and 'gold doré bars', indicating a mill-based processing route.

Evidence · text

“a 50,000 tpd nameplate processing plant in need of some refurbishment”

Low Recoverynegative · Story-specific tag

Recovery below the weak band for the commodity and processing route.

Why it applies: The average gold recovery of 74.5% is below the typical weak threshold of 80% for gold in a mill route.

Evidence · table

“74.5”

Context: Average gold recovery (%)

Extracted facts

Stored fact records: 54. Some facts used in scoring do not have a stored record.

Resource Estimates (54)

Fact 1KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: A 15-year mine life indicates a substantial project, contributing positively to the overall economics outlined in the PEA.

Positive factors

  • Long mine life

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“15”

Context: Mine Life (years)

Fact 2Kemess · goldView all details
Link to this fact

Identity

Project
Kemess
Commodity
gold
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The projected total gold production of 2.323 million ounces is a significant figure, underpinning the project's economic potential.

Positive factors

  • Significant total gold production

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“2,323”

Context: Total gold production (koz)

Fact 3Kemess · goldView all details
Link to this fact

Identity

Project
Kemess
Commodity
gold
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: An average annual gold production of 171,000 ounces indicates a substantial and consistent output over the mine life.

Positive factors

  • Strong average annual gold production

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“171”

Context: Average annual gold production(koz)

Fact 4Kemess · copperView all details
Link to this fact

Identity

Project
Kemess
Commodity
copper
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The projected total copper production of 851 million pounds is a substantial figure, contributing significantly to the project's economic viability.

Positive factors

  • Significant total copper production

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“851”

Context: Total copper production (Mlbs)

Fact 5Kemess · copperView all details
Link to this fact

Identity

Project
Kemess
Commodity
copper
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: An average annual copper production of 61 million pounds indicates a substantial and consistent output over the mine life.

Positive factors

  • Strong average annual copper production

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“61”

Context: Average annual copper production(Mlbs)

Fact 6KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total process plant feed of 254.869 million tonnes indicates the scale of the operation over the mine life.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“254,869”

Context: Total process plant feed (M tonnes)

Fact 7KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: An average process plant throughput of 50,000 tonnes per day indicates a large-scale processing operation.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“50,000”

Context: Average process plant throughput – post-2033 (tonnes per day “tpd”)

Fact 8Kemess · goldGrade: 0.39Grade Unit: g/tView all details
Link to this fact

Identity

Project
Kemess
Commodity
gold
Ticker
CG

Resource Data

Grade
0.39
Grade Unit
g/t

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The average gold grade of 0.39 g/t is on the lower side for a porphyry deposit, but contributes to the overall economic assessment.

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Low gold grade for porphyry deposit

Evidence · table

“0.39”

Context: Average gold grade (grams per tonne “g/t”)

Fact 9Kemess · copperGrade: 0.18Grade Unit: %View all details
Link to this fact

Identity

Project
Kemess
Commodity
copper
Ticker
CG

Resource Data

Grade
0.18
Grade Unit
%

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The average copper grade of 0.18% is on the lower side for a porphyry deposit, but contributes to the overall economic assessment.

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Low copper grade for porphyry deposit

Evidence · table

“0.18”

Context: Average copper grade (%)

Fact 10Kemess · goldView all details
Link to this fact

Identity

Project
Kemess
Commodity
gold
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The average gold recovery of 74.5% is below the typical weak threshold for a mill route, indicating potential metallurgical challenges or a need for further optimization.

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Low gold recovery

Evidence · table

“74.5”

Context: Average gold recovery (%)

Fact 11Kemess · copperView all details
Link to this fact

Identity

Project
Kemess
Commodity
copper
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The average copper recovery of 88.2% is strong for a porphyry deposit, positively impacting the project's economics.

Positive factors

  • Strong copper recovery

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“88.2”

Context: Average copper recovery (%)

Fact 12KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The open pit mining cost of $2.81 per tonne mined is a key operating cost input for the PEA.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“2.81”

Context: Open pit mining cost per tonne mined ($/tonne)

Fact 13KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The underground mining cost of $31.48 per tonne mined is a key operating cost input for the PEA.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“31.48”

Context: Underground mining cost per tonne mined($/tonne)

Fact 14KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The processing cost of $6.11 per tonne processed is a key operating cost input for the PEA.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“6.11”

Context: Processing cost per tonne processed ($/tonne)

Fact 15KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The G&A cost of $3.83 per tonne processed is a key operating cost input for the PEA.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“3.83”

Context: General & Administrative (“G&A”) cost per tonne processed($/tonne)

Fact 16Kemess · goldView all details
Link to this fact

Identity

Project
Kemess
Commodity
gold
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The gold production cost of $1,401 per ounce sold is a key metric for the project's profitability.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“1,401”

Context: Gold production costs per ounce sold ($/oz)

Fact 17Kemess · goldView all details
Link to this fact

Identity

Project
Kemess
Commodity
gold
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The all-in sustaining cost of $971 per ounce on a by-product basis is competitive, indicating strong economic potential for the project.

Positive factors

  • Competitive all-in sustaining costs

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“971”

Context: All-in sustaining costs on a by-product basisper ounce sold ($/oz)

Fact 18KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The initial non-sustaining capital expenditure of $771 million is a significant investment required to achieve first production.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“771”

Context: Initial non-sustaining capital expenditures($ millions)

Fact 19KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: An additional $277 million in expansionary capital expenditures is planned to support underground operations, indicating a staged development approach.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“277”

Context: Expansionary non-sustaining capital expenditures($ millions)

Fact 20KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total sustaining capital expenditures of $595 million over the life of mine are a key component of the project's overall cost structure.

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“595”

Context: Sustaining capital expenditures($ millions)

Fact 21KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The after-tax NPV 5% of $1.094 billion indicates strong economic viability for the project under the PEA assumptions.

Positive factors

  • Strong after-tax NPV

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“1,094”

Context: After-tax NPV 5% ($ millions)

Fact 22KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The Internal Rate of Return (IRR) of 16.4% demonstrates robust project economics, supporting the investment case.

Positive factors

  • Robust internal rate of return

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“16.4”

Context: IRR (%)

Fact 23KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The after-tax NPV 5% increasing to $2.754 billion at spot commodity prices highlights significant upside potential for the project.

Positive factors

  • Significant upside at spot prices

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“2,754”

Context: After-tax NPV 5% ($ millions)

Fact 24KemessView all details
Link to this fact

Identity

Project
Kemess
Ticker
CG

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The IRR increasing to 28.7% at spot commodity prices demonstrates substantial upside potential and leverage to higher metal prices.

Positive factors

  • Significant upside at spot prices

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“28.7”

Context: IRR (%)

indicatedKemess · goldTonnes: 170513000Grade: 0.3Grade Unit: g/tContained Metal: 1668000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
170513000
Grade
0.3
Grade Unit
g/t
Contained Metal
1668000
Contained Unit
oz
Cutoff Grade
12.01

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated gold resource for Kemess Main open pit shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.30”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 170,513

indicatedKemess · copperTonnes: 170513000Grade: 0.15Grade Unit: %Contained Metal: 575000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
170513000
Grade
0.15
Grade Unit
%
Contained Metal
575000000
Contained Unit
lbs
Cutoff Grade
12.01

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated copper resource for Kemess Main open pit shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.15”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 170,513

indicatedKemess · silverTonnes: 170513000Grade: 1.12Grade Unit: g/tContained Metal: 6155000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
170513000
Grade
1.12
Grade Unit
g/t
Contained Metal
6155000
Contained Unit
oz
Cutoff Grade
12.01

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated silver resource for Kemess Main open pit contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“1.12”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 170,513

indicatedKemess · goldTonnes: 13204000Grade: 0.37Grade Unit: g/tContained Metal: 158000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
13204000
Grade
0.37
Grade Unit
g/t
Contained Metal
158000
Contained Unit
oz
Cutoff Grade
9.98

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated gold resource for Kemess South open pit adds to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“0.37”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 13,204

indicatedKemess · copperTonnes: 13204000Grade: 0.13Grade Unit: %Contained Metal: 38000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
13204000
Grade
0.13
Grade Unit
%
Contained Metal
38000000
Contained Unit
lbs
Cutoff Grade
9.98

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated copper resource for Kemess South open pit adds to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“0.13”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 13,204

indicatedKemess · silverTonnes: 13204000Grade: 0.68Grade Unit: g/tContained Metal: 289000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
13204000
Grade
0.68
Grade Unit
g/t
Contained Metal
289000
Contained Unit
oz
Cutoff Grade
9.98

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated silver resource for Kemess South open pit contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“0.68”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 13,204

indicatedKemess · goldTonnes: 33223000Grade: 0.82Grade Unit: g/tContained Metal: 877000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
33223000
Grade
0.82
Grade Unit
g/t
Contained Metal
877000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated gold resource for Kemess UG shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.82”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 33,223

indicatedKemess · copperTonnes: 33223000Grade: 0.36Grade Unit: %Contained Metal: 265000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
33223000
Grade
0.36
Grade Unit
%
Contained Metal
265000000
Contained Unit
lbs
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated copper resource for Kemess UG shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.36”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 33,223

indicatedKemess · silverTonnes: 33223000Grade: 2.48Grade Unit: g/tContained Metal: 2652000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
33223000
Grade
2.48
Grade Unit
g/t
Contained Metal
2652000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated silver resource for Kemess UG contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“2.48”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 33,223

indicatedKemess · goldTonnes: 27491000Grade: 0.64Grade Unit: g/tContained Metal: 565000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
27491000
Grade
0.64
Grade Unit
g/t
Contained Metal
565000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated gold resource for Kemess East underground shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.64”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 27,491

indicatedKemess · copperTonnes: 27491000Grade: 0.44Grade Unit: %Contained Metal: 268000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
27491000
Grade
0.44
Grade Unit
%
Contained Metal
268000000
Contained Unit
lbs
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated copper resource for Kemess East underground shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.44”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 27,491

indicatedKemess · silverTonnes: 27491000Grade: 1.91Grade Unit: g/tContained Metal: 1684000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
27491000
Grade
1.91
Grade Unit
g/t
Contained Metal
1684000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The indicated silver resource for Kemess East underground contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“1.91”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 27,491

indicatedKemess · goldTonnes: 244431000Grade: 0.42Grade Unit: g/tContained Metal: 3269000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

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

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total indicated gold resource shows significant growth in contained metal, contributing to the project's overall scale, despite a slight decrease in average grade.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off
  • Significant contained metal growth

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.42”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 244,431

indicatedKemess · copperTonnes: 244431000Grade: 0.21Grade Unit: %Contained Metal: 1146000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
indicated
Tonnes
244431000
Grade
0.21
Grade Unit
%
Contained Metal
1146000000
Contained Unit
lbs

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total indicated copper resource shows significant growth in contained metal, contributing to the project's overall scale, despite a slight decrease in average grade.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off
  • Significant contained metal growth

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Grade decline compared to prior estimate

Evidence · table

“0.21”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 244,431

indicatedKemess · silverTonnes: 244431000Grade: 1.37Grade Unit: g/tContained Metal: 10780000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

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

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total indicated silver resource contributes to the project's overall scale.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature

Evidence · table

“1.37”

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: The resource is classified as Indicated Mineral Resources.

Evidence · table

“Indicated Mineral Resources”

Context: 244,431

inferredKemess · goldTonnes: 237050000Grade: 0.3Grade Unit: g/tContained Metal: 2299000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
237050000
Grade
0.3
Grade Unit
g/t
Contained Metal
2299000
Contained Unit
oz
Cutoff Grade
12.01

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred gold resource for Kemess Main open pit shows significant growth in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.30”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 237,050

inferredKemess · copperTonnes: 237050000Grade: 0.13Grade Unit: %Contained Metal: 682000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
237050000
Grade
0.13
Grade Unit
%
Contained Metal
682000000
Contained Unit
lbs
Cutoff Grade
12.01

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred copper resource for Kemess Main open pit shows significant growth in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.13”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 237,050

inferredKemess · silverTonnes: 237050000Grade: 1.06Grade Unit: g/tContained Metal: 8108000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
237050000
Grade
1.06
Grade Unit
g/t
Contained Metal
8108000
Contained Unit
oz
Cutoff Grade
12.01

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred silver resource for Kemess Main open pit contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“1.06”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 237,050

inferredKemess · goldTonnes: 198000Grade: 0.34Grade Unit: g/tContained Metal: 2000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
198000
Grade
0.34
Grade Unit
g/t
Contained Metal
2000
Contained Unit
oz
Cutoff Grade
9.98

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred gold resource for Kemess South open pit adds to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“0.34”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 198

inferredKemess · copperTonnes: 198000Grade: 0.08Grade Unit: %Contained Metal: 400000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
198000
Grade
0.08
Grade Unit
%
Contained Metal
400000
Contained Unit
lbs
Cutoff Grade
9.98

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred copper resource for Kemess South open pit adds to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“0.08”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 198

inferredKemess · silverTonnes: 198000Grade: 0.42Grade Unit: g/tContained Metal: 3000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
198000
Grade
0.42
Grade Unit
g/t
Contained Metal
3000
Contained Unit
oz
Cutoff Grade
9.98

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred silver resource for Kemess South open pit contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“0.42”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 198

inferredKemess · goldTonnes: 20094000Grade: 0.74Grade Unit: g/tContained Metal: 481000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
20094000
Grade
0.74
Grade Unit
g/t
Contained Metal
481000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred gold resource for Kemess UG shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a significant grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.74”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 20,094

inferredKemess · copperTonnes: 20094000Grade: 0.33Grade Unit: %Contained Metal: 148000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
20094000
Grade
0.33
Grade Unit
%
Contained Metal
148000000
Contained Unit
lbs
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred copper resource for Kemess UG shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a significant grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.33”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 20,094

inferredKemess · silverTonnes: 20094000Grade: 2.22Grade Unit: g/tContained Metal: 1433000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
20094000
Grade
2.22
Grade Unit
g/t
Contained Metal
1433000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred silver resource for Kemess UG contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“2.22”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 20,094

inferredKemess · goldTonnes: 42252000Grade: 0.57Grade Unit: g/tContained Metal: 772000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
42252000
Grade
0.57
Grade Unit
g/t
Contained Metal
772000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred gold resource for Kemess East underground shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.57”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 42,252

inferredKemess · copperTonnes: 42252000Grade: 0.42Grade Unit: %Contained Metal: 393000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
42252000
Grade
0.42
Grade Unit
%
Contained Metal
393000000
Contained Unit
lbs
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred copper resource for Kemess East underground shows an increase in contained metal compared to the previous estimate, contributing to the overall expanded resource base, though with a slight grade decline.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.42”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 42,252

inferredKemess · silverTonnes: 42252000Grade: 1.92Grade Unit: g/tContained Metal: 2602000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
42252000
Grade
1.92
Grade Unit
g/t
Contained Metal
2602000
Contained Unit
oz
Cutoff Grade
40.68

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The inferred silver resource for Kemess East underground contributes to the overall expanded resource base.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“1.92”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 42,252

inferredKemess · goldTonnes: 299593000Grade: 0.37Grade Unit: g/tContained Metal: 3555000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

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

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total inferred gold resource shows significant growth in contained metal, contributing substantially to the project's overall scale, despite a decrease in average grade.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off
  • Significant contained metal growth

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.37”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 299,593

inferredKemess · copperTonnes: 299593000Grade: 0.19Grade Unit: %Contained Metal: 1223000000Contained Unit: lbsView all details
Link to this fact

Identity

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

Resource Data

Category
inferred
Tonnes
299593000
Grade
0.19
Grade Unit
%
Contained Metal
1223000000
Contained Unit
lbs

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total inferred copper resource shows significant growth in contained metal, contributing substantially to the project's overall scale, despite a decrease in average grade.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off
  • Significant contained metal growth

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources
  • Grade decline compared to prior estimate

Evidence · table

“0.19”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 299,593

inferredKemess · silverTonnes: 299593000Grade: 1.26Grade Unit: g/tContained Metal: 12146000Contained Unit: ozView all details
Link to this fact

Identity

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

Resource Data

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

Location

Loc. Confidence
high

Review

Needs Review
No
Historical
No

Dates

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

Reasoning: The total inferred silver resource contributes substantially to the project's overall scale.

Positive factors

  • Expanded mineral resource
  • NI 43-101 compliant resource
  • QP/CP sign-off

Negative factors

  • Preliminary economic assessment (PEA) nature
  • Reliance on inferred mineral resources

Evidence · table

“1.26”

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: The resource is classified as Inferred Mineral Resources, which is a speculative category.

Evidence · table

“Inferred Mineral Resources”

Context: 299,593

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.