Resources & Reserves

During the last 3 years, Theta Gold doubled its mineral resources through an extensive historic data digitising process (data from historic production/sampling since 1873), as well as a >20,000 metres drilling program.  (Figure 1)

In May 2019 the Company updated its latest Mineral Resources tables below.

Figure 1: Mineral Resources upgrades since June 2016


Mineral Resources tables

Table 1: Combined Mineral Resources as at 1 May 2019

  1. Columns may not add up due to rounding.
  2. Gold price used for the cut-off calculations is USD1,500/oz.
  3. UG Mineral Resources are reported at a cut-off of 160 cm.g/t, open pit at 0.5 g/t and 0.35 g/t, tailings and rock dumps at 0.35 g/t.
  4. Fault losses of 5% for Measured and Indicated, 10% for Inferred Mineral Resources.
  5. Mineral Resources are stated as inclusive of Ore Reserves.
  6. Mineral Resources are reported as total Mineral Resources and are not attributed.

Table 2: Theta Project Ore Reserves for MR83 Only, 1 May 2019

The Ore Reserves exclude Inferred Mineral Resources.


  1. Totals in the Ore Reserve may not add-up due to rounding.
  2. Mineral Resources are for MR83 only and excludes MR341.
  3. No Inferred Mineral Resources are included in the Ore Reserve.


Table 3: Total Theta Project – Mineral Resources, 1 May 2019


  1. Theta Project (Theta Hill, Browns Hill and Iota) cut-off is 0.35 g/t;
  2. The gold price used for the cut-off calculations is USD 1,500 / oz;
  3. Geological losses applied are 10% for inferred and 5% for Indicated and Measured;
  4. Theta Hill and Browns Hill – Upper Theta Reef, Lower Theta Reef and Beta Reef are diluted grades over 100cm;
  5. Historical mine voids have been depleted from the Mineral Resource;
  6. The inferred Mineral Resources have a high degree of uncertainty and it should not be assumed that all or a portion thereof will be converted to Ore Reserves;
  7. Mineral Resources fall within the mining right MR83 and MR341.