Wellgreen Project Preliminary Economic Assessment ... - OTCIQ.com

14.1.7 RESOURCE CLASSIFICATION
Several factors are considered in the definition of a resource classification:
• NI 43-101 requirements
• Canadian Institute of Mining, Metallurgy and Petroleum (CIM) guidelines
• authors’ experience with magmatic sulphide deposits
• spatial continuity based on variography of the assays within the drillholes
• the proportion of PGM assays to nickel and copper assays.
No environmental, permitting, legal, title, taxation, socio-economic, marketing or
other relevant issues are known to Tetra Tech that may affect the estimate of mineral
resources. Mineral reserves can only be estimated on the basis of an economic
evaluation that is used in a preliminary feasibility study or a feasibility study of a
mineral project; thus, no reserves have been estimated. As per NI 43-101, mineral
resources, which are not mineral reserves, do not have to demonstrate economic
viability.
14.1.8 MINERAL RESOURCE TABULATION
The resource reported as of July 2011 has been tabulated in terms of a nickel
equivalent cut-off grade. The mineral resources for the pit shell at Wellgreen are
tabulated in Table 14.11 to Table 14.12 for the Indicated and Inferred Resources
respectively. The resources are tabulated using various cut-off grades up to an
upper bound of greater than 1.0% NiEq.
Table 14.11 Wellgreen Pitshell Indicated Resource Cut-off Table
NiEq
Cut-off Tonnes
NiEq
(%)
Ni
(%)
Cu
(%)
Prophecy Platinum Corp. 14-12 1193460500-REP-R0001-02
Wellgreen Project Preliminary Economic Assessment,
Yukon, Canada
Co
(%)
Pt
(g/t)
Pd
(g/t)
Au
(g/t)
0.10 14,423,900 1.40 0.68 0.62 0.05 0.99 0.73 0.51
0.15 14,423,900 1.40 0.68 0.62 0.05 0.99 0.73 0.51
0.20 14,423,900 1.40 0.68 0.62 0.05 0.99 0.73 0.51
0.25 14,423,900 1.40 0.68 0.62 0.05 0.99 0.73 0.51
0.30 14,423,900 1.40 0.68 0.62 0.05 0.99 0.73 0.51
0.35 14,411,000 1.40 0.68 0.62 0.05 0.99 0.73 0.51
0.40 14,333,700 1.41 0.69 0.62 0.05 0.99 0.74 0.52
0.45 14,136,700 1.42 0.69 0.62 0.05 1.00 0.74 0.52
0.50 13,816,100 1.44 0.70 0.63 0.05 1.02 0.75 0.53
0.55 13,405,200 1.47 0.72 0.65 0.05 1.04 0.76 0.54
0.60 12,941,300 1.50 0.73 0.66 0.05 1.07 0.77 0.55
0.65 12,494,000 1.54 0.75 0.68 0.05 1.09 0.79 0.56
0.70 11,988,800 1.57 0.77 0.70 0.06 1.11 0.80 0.57
table continues…