Silver Wheaton Reports Completion of Yauliyacu Technical Report, December 31, 2005 Reserve and Resource Update
Market Wire, April, 2006
Silver Wheaton Corp. ("Silver Wheaton") (TSX: SLW)(AMEX: SLW) is pleased to report that Watts, Griffis and McOuat Limited ("WGM") have completed an independent technical report regarding the silver reserves and resources at the Yauliyacu Mine in Peru, as of December 31, 2005.
As previously reported, Silver Wheaton recently completed a silver purchase agreement with Glencore International AG ("Glencore"), owner of the Yauliyacu Mine, whereby Glencore will deliver 4.75 million ounces of silver per year to Silver Wheaton for twenty years.
Related Results
WGM has reported that, as at December 31, 2005, the Yauliyacu Mine had proven and probable silver reserves of 12.9 million ounces, measured and indicated silver resources of 52.2 million ounces and inferred silver resources of 64.7 million ounces. This report has been filed on SEDAR.
Silver Wheaton is also pleased to report that, as at December 31, 2005, total proven and probable silver reserves (at the Luismin Mines, Zinkgruvan Mine and Yauliyacu Mine) were 84.0 million ounces, total measured and indicated resources were 60.7 million ounces and total inferred resources were 282.5 million ounces, as follows:
-------------------------------------------------------------------- Proven and Probable Reserves (1,4,5,6) -------------------------------------------------------------------- As of Dec. 31, PROVEN PROBABLE 2005 Tonnes Grade Contained Tonnes Grade Contained -------------------------------------------------------------------- SILVER Mt g Ag/t m oz mt g Ag/t M oz -------------------------------------------------------------------- San Dimas 1.42 447 20.4 1.83 401 23.6 -------------------------------------------------------------------- San Martin 0.31 47 0.5 0.58 46 0.9 -------------------------------------------------------------------- Zinkgruvan 6.27 111 22.4 1.89 57 3.5 -------------------------------------------------------------------- Yauliyacu 1.21 124 4.8 1.27 198 8.1 -------------------------------------------------------------------- TOTAL 48.1 36.0 ---------------------------------------- ---------------------------------------- As of Dec. 31, PROVEN & PROBABLE 2005 Tonnes Grade Contained ---------------------------------------- Silver mt g Ag/t M oz ---------------------------------------- San Dimas 3.25 421 44.0 ---------------------------------------- San Martin 0.90 47 1.3 ---------------------------------------- Zinkgruvan 8.16 98 25.8 ---------------------------------------- Yauliyacu 2.48 162 12.9 ---------------------------------------- TOTAL 84.0 ---------------------------------------- -------------------------------------------------------------------- Measured & Indicated Resources (1,2,3,4,5,6) -------------------------------------------------------------------- As of Dec. 31, MEASURED INDICATED 2005 Tonnes Grade Contained Tonnes Grade Contained -------------------------------------------------------------------- SILVER mt g Ag/t m oz mt g Ag/t M oz -------------------------------------------------------------------- San Dimas - - - - - - -------------------------------------------------------------------- San Martin 0.02 204 0.2 0.20 234 1.5 -------------------------------------------------------------------- Zinkgruvan (Zn) 0.61 25 0.5 1.24 86 3.4 -------------------------------------------------------------------- Zinkgruvan (Cu) - - - 2.80 32 2.9 -------------------------------------------------------------------- Yauliyacu 2.11 265 18.0 3.01 353 34.2 -------------------------------------------------------------------- TOTAL 18.7 42.0 -------------------------------------------------------------------- ---------------------------------------- As of Dec. 31, MEASURED & INDICATED 2005 Tonnes Grade Contained ---------------------------------------- SILVER mt g Ag/t M oz ---------------------------------------- San Dimas - - - ---------------------------------------- San Martin 0.22 231 1.7 ---------------------------------------- Zinkgruvan (Zn) 1.85 66 3.9 ---------------------------------------- Zinkgruvan (Cu) 2.80 32 2.9 ---------------------------------------- Yauliyacu 5.12 317 52.2 ---------------------------------------- TOTAL 60.7 ---------------------------------------- ---------------------------------------- Inferred Resources (1,2,3,4,5,6) As of Dec. 31, 2005 Tonnes Grade Contained ---------------------------------------- SILVER mt g Ag/t M oz ---------------------------------------- San Dimas 17.27 321 178.1 ---------------------------------------- San Martin 2.87 111 10.3 ---------------------------------------- Zinkgruvan (Zn) 8.46 105 28.6 ---------------------------------------- Zinkgruvan (Cu) 0.89 28 0.8 ---------------------------------------- Yauliyacu 6.87 293 64.7 ---------------------------------------- TOTAL 282.5 ----------------------------------------
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