Ann: High Grade Gold Results Continue at Cork Tree Well, page-86

What is considered high grade varies depending on whether it is shallow or at depth.

Open Pit:

	Column 1	Column 2
0	Low grade	0 - 0.5 gold grams per tonne
1	Average grade	0.5 - 1.5 gold grams per tonne
2	High grade	1.5 + gold grams per tonne

Underground Mine:

	Column 1	Column 2
0	Low grade	0 - 5 gold grams per tonne
1	Average grade	5 - 8 gold grams per tonne
2	High grade	8 + gold grams per tonne
3	'Bonanza' grade	Troy Ounces (31.1 grams) per tonne

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The World Gold Council defines a high-quality underground mine as having a gold ore density between 8 and 10 g/t, while a low-quality underground mine has a gold ore density of 1 to 4 g/t. Open-pit mines tend to have a lower grade, but they can be considered very valuable because of the lower average operating costs necessary to obtain them. The council recommends using cost per ounce, not gold ore grading, to evaluate a gold mine.