Misery pipe remains open at depth

 

First production of undergrounds in 2029 

By providing MRE update, Burgundy Diamond Mines updated the Life of Mine (LOM) plan has been updated based on the MRE update for Misery underground, and the Mineral Resource and Ore Reserve Estimate updates for Fox underground.  

Key components of the LOM plan include the following; 1: Misery Underground – Currently in operation and planned for mining until Q4 2027. 6% of the Misery tonnage in the plan is classified as indicated, 68% of the Misery tonnage in the plan is classified as inferred, while a further 26% lacks the necessary geological information to be assigned a resource classification. The pipe remains open at depth.  

2: Fox Stockpile – Low-grade ore from historic open pit mining of Fox pit, which was completed in 2014. The stockpile will be blended with Misery production until Q4 2028. The stockpile has been blended in the processing feed intermittently in 2024 and H1 2025. The stockpile is classified as an Inferred Mineral Resource.  

3: Point Lake Pit stripping began in Q4, 2024, with the objective of obtaining a bulk sample. Based on the bulk sample results, further mining is deferred in the mine plan to mid-2026. 4: Fox Underground – Development and pit dewatering is planned to start in 2026, with first development ore in Q4 2028 and first production ore in Q2 2029.

5: Plant Production – Plant operations will be reduced to a 2 week on/2 week off schedule in August 2025. This schedule will remain in place until Point Lake is brought back into full production in mid-2026.

The LOM production profile is shown in Table A and includes inferred and exploration tonnes.  

The Inferred Mineral Resource category is the lowest confidence category of Mineral Resource. It is based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade continuity.  

It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.  

Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade, relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource.