Leveraged gold play, page-25

I see what you mean, it's not particularly clear looking at those charts.
Looking at the bottom summary of the WA mineral resources chart around 650 000 oz's is in the measured category.
Measured resources can be estimated with a high level of confidence similar to that of proven resources, the only difference between the two is that proven resources take into account Diluting materials and allowances for losses that might occur through mining.
If you think about it , if AZM had 624 000 oz's in reserves and an extra 650 000 oz's in the measured category of their resource, why in their base case feasibility study are they only planning to produce 90 000 oz's a year over a 7 year period.
If the reserve oz's were separate in this case, AZM would have used the measured oz's in the feasibility study and either yearly production or LOM would be significantly higher.
I could be wrong, but you can see what I mean.
You are right though, some companies exclude the ore reserve from the overall mineral resource, and sometimes the two can be added together to get the overall total.
If you are right, it basically means that with very little effort AZM could double their production from their current resource base