Kinross new's release, updated resource reservesHere's a section from Kinross's news release...
A link to their full news release if you want to read the full story
https://www.marketwire.com/press-release/Kinross-Gold-Reserves-Increase-to-51-Million-Ounces-TSX-K-1109069.htm
Kinross' total measured and indicated (M&I) mineral resources atyear-end 2009 increased by 2.9 million ounces of gold, or 21%, to 16.6million ounces versus 13.7 million ounces at year-end 2008. 2009resources were based on a gold price of $875.
The increase is primarily due to the upgrading of the mineralresource at the FDN development project in Ecuador, which contributed5.7 million ounces to measured and indicated mineral resources. Thisresource upgrade is based on Kinross' analysis of 67,000 metres ofdrilling by the previous owner and positive metallurgical and miningstudy work showing potential for economic extraction. Kinross receivedapproval from the Ecuadorian government in November 2009 to re-commenceexploration at FDN and is continuing with a 18,000-metre drillingcampaign in 2010 with the expectation of further upgrading resources.Kinross has elected to undertake this additional drilling prior tofinalizing the FDN pre-feasibility study, which it expects to completeat year-end. The Company is filing a Technical Report on FDN inconnection with the upgrading of its mineral resource concurrently withthis news release.
The increase in M&I resources at FDN was partially offset bythe sale of the Gurupi property in Brazil (-1.7 million ounces) andreductions at Paracatu (-1.3 million ounces) due to engineering changes.
Measured and indicated mineral resources of silver at year-end 2009declined by 2.3 million ounces, or 8%, to 25.4 million ounces versus27.7 million ounces at year-end 2008. The net change is primarily dueto upgrading the silver resource to reserves at both Cerro Casale andLa Coipa.
Inferred Mineral Resources
Kinross' total inferred mineral resources at year-end 2009decreased by 4.6 million ounces of gold to 16.2 million ounces, versus20.8 million ounces at year-end 2008. The net decrease in inferredmineral resources is primarily due to the upgrade in resources to theM&I category and a change in the cut-off grade at FDN.
Inferred mineral resources of silver at year-end 2009 declined by11.0 million ounces to 34.1 million ounces, versus 45.1 million ouncesat year-end 2008.