SSR Mining Inc. [SSRM-TSX, NASDAQ; SSR-ASX] reported its updated mineral reserves and mineral resources, as of December 31, 2020.
Track Record of Mineral Reserves Replacement: Gold Mineral Reserves increased 5% to 8.0 million ounces (9.0 million gold-equivalent ounces) as compared to year-end 2019 combined results for SSR Mining and Alacer Gold pre-merger, driven primarily by additions at the Copler mine, Turkey.
Measured and Indicated Gold Mineral Resources increased 14%: Gold Measured and Indicated Mineral Resources of 15.0 million ounces (27.0 million gold-equivalent ounces) resulting from increases at Marigold, Nevada, and in the Copler District.
Copler District Mineral Reserves and Resources Growth: Mineral Reserves increased 17% to 3.8 million ounces of gold and Measured and Indicated Mineral Resources increased 20% to 7.2 million ounces of gold. Inclusion of results from the large drilling program at Ardich in the Copler District resulted in additions as outlined in the November 2020 Copler District Master Plan Studies.
Marigold Increases Mineral Resources: Indicated Mineral Resources increased by 9% for a total of 5.4 million ounces of gold compared to 4.9 million ounces at year-end 2019. Mineral Resources increased at Mackay, Red Dot, New Millennium, Crossfire and Valmy.
Seabee Mineral Reserves Replace Depletion: Despite a limited exploration program due to COVID-19, Seabee, Saskatchewan, largely replaced Mineral Reserves for the year. The Gap HW Mineral Resources remain a key focus area for conversion to Mineral Reserves in 2021.
Mineral Reserves and Mineral Resources
At year-end 2020, total estimated gold and silver Mineral Reserves were 8.0 million ounces and 52.4 million ounces compared to 7.7 million ounces and 57.5 million ounces, respectively, at year-end 2019 (combined SSR Mining and Alacer Gold results pre-merger).
At year-end 2020, total estimated gold and silver Measured and Indicated Mineral Resources were 15.0 million ounces and 658.5 million ounces compared to 13.2 million ounces and 664.2 million ounces, respectively, at year-end 2019 (combined SSR Mining and Alacer Gold results pre-merger).
Mineral Reserves estimates for the Copler District, Marigold mine, the Seabee Gold Operation and Puna Operations, Argentina, have been determined based on prices of $1,350 per ounce of gold and $18.50 per ounce of silver. Mineral Resources estimates have been determined based on prices of $1,750 per ounce of gold and $22.00 per ounce of silver. Mineral Resources reported are inclusive of Mineral Reserves.