Mineral Exploration

S umm e r 20 17 7 He left Nesbitt Thomson in 1994 to form Salman Partners, which, over 22 years, helped raise $20 billion for more than 400 companies. Salman Partners provided investment analysis across a wide range of sectors, but over the years carved out a specialty in the Vancouver-based resource industry. Currently, Salman is president and CEO of Salman Capital Inc., an investment advisory and merchant banking firm, capitalizing on his extensive network and relationships he has built in the mining and investment business. HUGO DUMMETT DIAMOND AWARD WILLIAM LAMB AND LUKAS LUNDIN The Hugo Dummett Diamond Award was created to honour those who have made a significant contribution to diamond exploration, discovery or mine development. William Lamb, president, CEO and director, and Lukas Lundin, chairman and director, respectively, of Lucara Diamond Corp. are the 2016 recipients of the Hugo Dummett Award in recognition of their roles in developing the Karowe Mine in Botswana. The AK6 kimberlite pipe, now known as Karowe, was discovered almost 50 years ago. It was deemed uneconomic at the time, and there was limited exploration on the property until around 12 years ago. Lamb, mandated to find the best undeveloped diamond project in the world and bring it into production, was aware of Karowe and believed the original assessment was incorrect. He and his technical team determined that the value of the project had been underestimated due to diamond breakage during exploration test work. Lundin provided the financial backing to acquire an interest in the project, eventually bringing it into production in 2012 by way of a personal loan facility. Further analysis confirmed that Karowe had the potential for large, high- value, Type IIA diamonds, and Lamb installed cutting-edge X-ray technology and high-capacity bulk sorting to facilitate their recovery. In fact, over 100 diamonds of greater than 100 carats each have been recovered since the mine opened – including the 813-carat Constellation and the 1,109-carat Lesedi La Rona diamond, the world's second-largest gem-quality diamond ever recovered. COLIN SPENCE AWARD DAVID BROUGHTON AND SELLO KEKANA This year's recipients of the Colin Spence Award, for making a significant mineral discovery outside of British Columbia and Yukon through the original application of prospecting techniques or other geoscience technology, are David Broughton and Sello Kekana. They are being recognized for their outstanding work that led to the discovery of the Tier One Flatreef underground deposit at Ivanhoe Mines Ltd.'s Platreef platinum group metals (PGMs) and nickel-copper- gold project in the Northern Limb of South Africa's Bushveld Complex. Work leading to the discovery of the Flatreef deposit began more than 15 years ago. Exploration in the area by Ivanhoe Mines and its subsidiaries led to delineation of a large, near-surface, low-grade resource that was amenable to open-pit mining; however, the open-pit area was overlain by villages with a combined population of more than 30,000 people. Realizing the challenges involved with relocating the villagers, the company's geological team, led by Broughton and Kekana, began work to identify other zones of mineralization on the property. Their unique approach, which included applying advanced geophysical modelling to high-resolution airborne gravity data, resulted in the realization in 2010 that the regionally steeply west-dipping mineralized reef flattened at a depth of roughly 700 metres below surface on Ivanhoe's property. Deep drilling on the deposit has defined a flat- to gently-dipping National Instrument 43-101-compliant indicated mineral resource. The resource has an average thickness of 24 metres and a strike length in excess of six kilometres, containing an estimated 1.2 million kilograms (42 million ounces) of PGMs plus gold at a cutož of two g/t, and an additional 1.5 million kilograms (52.8 million ounces) of PGMs plus gold in inferred resources. The indicated and inferred resources also contain 1.6 and 2.4 billion kilograms of nickel and copper, respectively. Project development commenced in 2014, and shaft sinking is underway. ROBERT R. HEDLEY AWARD JIM COONEY Jim Cooney is the recipient of the Robert R. Hedley Award for Excellence in Social and Environmental Responsibility. Cooney is a leader and mentor who has led and shaped the integration of environmental and social values into the mining industry. Beginning early in his career in the 1970s, he began incorporating social considerations into mining by directing Cominco's first social impact assessment at what is now the Highland Valley Copper mine. By the early 1990s, following the United Nations' adoption of sustainable development, Cooney began publishing articles that promoted this as a mining company strategy for managing social and political risks. He has been an outspoken advocate for sustainable development ever since, as well as an advocate for the inclusion of indigenous peoples and perspectives in the mining industry. In 1996, Cooney was director, international and public ažairs, for Placer Dome, and was the driving force that led the company to adopt a policy of sustainable development, the first mining company to do so. Shortly afterward, as chair of the Policy Committee of the International Council on Mining and the Environment (now the ICMM), he successfully led the ežort to convince mining companies around the world to adopt sustainable development policies. Among his many significant accomplishments, Cooney coined the term "social licence to operate" at a World Bank meeting in 1997. This term has become a widely accepted reference point for mining companies in their relationship with local communities. Jim Cooney Andrée de Rosen-Spence with David Broughton and Sello Kekana

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