Article

LT

audit voor Union Minière Sverige AB (ertsreserves)

ID: 199401011563

AUDIT OF THE ORE RESERVES OF THE ZINKGRUVAN PROJECT - SWEDEN

The Zinkgruvan zinc-lead-silver mine is located in south-central Sweden about 200 km west-southwest of Stockholm. It is Sweden's most southerly metal mine, and has been in continuous operation for 136 years, since 1857.

Proven and probable mineable reserves are currently 11.4 million tonnes with an average grade of 10.6% Zn, 3.8% Pb and 75 g Ag/t. There are additional resources in the Measured and Inferred categories. In 1993, the mine produced 126,437 tonnes of zinc concentrate grading 56% Zn, and 23,492 tonnes of lead concentrate grading 72% Pb and 1,421 g Ag/t.

WGM was retained to audit the ore reserves and resources in the Zinkgruvan deposit, which consists of the Knalla and Nygruvan mine areas and to present the results of this study in a National Policy 2A report. The report was required to be submitted to international stock exchanges for listing of Union Minière Sverige AB (Union Minière).

WGM completed a review and audit of Union Minière's estimates of January 1, 1994. We concluded that the quality of the data used was excellent and had been appropriately applied by Union Minière in completing its estimates. WGM confirmed Union Minière's tonnage and grade estimates for the Zinkgruvan operation. We also reclassified the reserves according to the definitions outlined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves, which is an appropriate international standard.

http://www.wgm.on.ca/SERVICES/ore.html

Land: SWE