# Great Panther Announces Updated Mineral Reserve and Mineral Resource Estimates for the Tucano Gold Mine

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11

Original source: https://money.tmx.com/en/quote/GPR/news/5992960327929929/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f

Publisher: tmx

Original announcement: 2022-04-26T11:25:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Great Panther Mining Limited

- Ticker: GPR

- Exchange: TSX

- Region: Brazil

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update, Production

- Extracted: 2026-08-23 15:15:02 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Great Panther has released updated 2021 Mineral Reserve and Mineral Resource estimates for the Tucano Gold Mine in Brazil. The update highlights a 24% increase in open pit reserves and a 65% increase in open pit Measured and Indicated resources compared to the 2020 estimate.

Reasoning: The update shows substantial growth in open pit reserves and resources, effectively replacing depletion and extending mine life.

- Positive factor: Significant increase in open pit reserves \(24%\)

- Positive factor: Significant increase in open pit M&I resources \(65%\)

- Positive factor: Successful replacement of mining depletion

- Positive factor: Extension of open pit mine life

- Negative factor: Underground estimates pending engineering studies

Facts used in scoring: 9

## Classification and evidence

**Tonnage Growth**

Polarity: positive

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

Why it applies: Open pit reserves increased by 24% and M&I resources by 65% since the 2020 MRMR.

Evidence · text

> open pit Mineral Reserves and open pit Measured and Indicated Resources increased by 24% and 65%, respectively

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: Estimates were prepared in accordance with NI 43-101 standards.

Evidence · text

> The estimates were prepared in accordance with National Instrument 43-101

**QP/CP Signed**

Polarity: positive

Definition: 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: Multiple Qualified Persons \(QP\) and Competent Persons \(CP\) are named and have supervised the estimates.

Evidence · text

> Nicholas Winer, Fellow AusIMM, and Carlos Pires, Chartered Professional, Fellow AusIMM \(CP\), supervised the preparation

**Cut-off Disclosed**

Polarity: positive

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

Why it applies: Cut-off grades for reserves and resource wireframes are explicitly stated in the notes.

Evidence · text

> cut-off grades that vary from 0.40 g/t Au to 0.45 g/t Au for oxide ore

## Extracted facts

Stored fact records: 9. Some facts used in scoring do not have a stored record.

## Resource Estimates (9)

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-0)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: proven
- Tonnes: 2495000
- Grade: 1.4
- Grade Unit: g/t
- Contained Metal: 112000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Proven reserve component of the open pit.

Evidence · table

> 1.40

Context: 2,495

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-1)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: proven
- Tonnes: 189000
- Grade: 3.78
- Grade Unit: g/t
- Contained Metal: 23000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Proven reserve component of the underground.

Evidence · table

> 3.78

Context: 189

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-2)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: probable
- Tonnes: 7437000
- Grade: 1.08
- Grade Unit: g/t
- Contained Metal: 259000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Probable reserve component of the open pit.

Evidence · table

> 1.08

Context: 7,4371

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-3)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: probable
- Tonnes: 1976000
- Grade: 4.17
- Grade Unit: g/t
- Contained Metal: 265000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Probable reserve component of the underground.

Evidence · table

> 4.17

Context: 1,976

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-4)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: measured
- Tonnes: 5651000
- Grade: 1.2
- Grade Unit: g/t
- Contained Metal: 217000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Measured resource component of the open pit.

Evidence · table

> 1.20

Context: 5,651

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-5)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: indicated
- Tonnes: 18863000
- Grade: 1.17
- Grade Unit: g/t
- Contained Metal: 711000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Indicated resource component of the open pit.

Evidence · table

> 1.17

Context: 18,863

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-6)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: indicated
- Tonnes: 2493000
- Grade: 4.41
- Grade Unit: g/t
- Contained Metal: 353000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Indicated resource component of the underground.

Evidence · table

> 4.41

Context: 2,493

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-7)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: inferred
- Tonnes: 1476000
- Grade: 1.1
- Grade Unit: g/t
- Contained Metal: 52000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Inferred resource component of the open pit.

Evidence · table

> 1.10

Context: 1,476

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/great-panther-announces-updated-mineral-reserve-and-mineral-resource-estimates-f--5b0ae739-c55c-48d5-9850-984314be5b11#fact-resource-facts-8)

gold

#### Identity

- Commodity: gold
- Ticker: GPR

#### Resource Data

- Category: inferred
- Tonnes: 5306000
- Grade: 2.73
- Grade Unit: g/t
- Contained Metal: 466000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2022-04-26T00:00:00.000Z

Reasoning: Inferred resource component of the underground.

Evidence · table

> 2.73

Context: 5,306

## 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.