Undiscovered porphyry copper resources in the Urals-A probabilistic mineral resource assessment

Probabilistic estimates predict a mean of 22 undiscovered porphyry copper deposits within the four permissive tracts delineated in the Urals. Combining estimates with established grade and tonnage models predicts a mean of 82 million metric tons of undiscovered copper. Application of an economic filter suggests that about half of that amount could be economically recoverable based on assumed depth distributions, availability of infrastructure, recovery rates, current metals prices, and investment environment.