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

16.0 M INING METHODS
16.1 I NTRODUCTION
This section outlines the parameters and procedures Tetra Tech used to perform the
pit optimization and mine planning work for the Project.
16.2 O VERVIEW
The deposit will be mined using a conventional truck-and-shovel open pit mining
method, at a production rate of 111,500 t/d (39,000,000 t/a) waste plus mineralized
material over a 37-year LOM.
The open pit was designed using a two-stage approach. In the first stage, a series of
optimum pit shell were identified using the Lerchs-Grossman (LG) pit optimization
method in Gemcom Whittle software program. The base case pit shell that
represent the prices introduced in Table 16.3 was selected as the final pit.
In the second stage, the base case pit was used for mine planning to:
• determine phases of mine development
• establish production schedules
• select major equipment
• estimate mining capital and operating costs.
The ultimate pit design generated the key results provided in Table 16.1.
Table 16.1 Ultimate Pit Design Results
Description Unit Value
Mineralized Material Mined Mt 405.3
Waste Material Mined Mt 1,043
Strip Ratio t waste:t mineralized material 2.57:1
Milling Rate t/d 32,000
Mine Life years 37
Prophecy Platinum Corp. 16-1 1193460500-REP-R0001-02
Wellgreen Project Preliminary Economic Assessment,
Yukon, Canada