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

25.2 M INING
Table 25.1 Wellgreen Resource Estimate Summary
NiEq
Cut-off Category Zone Tonnes NiEq%
Prophecy Platinum Corp. 25-2 1193460500-REP-R0001-02
Wellgreen Project Preliminary Economic Assessment,
Yukon, Canada
Ni
(%)
Cu
(%)
Co
(%)
Au
(g/t)
Pt
(g/t)
Pd
(g/t)
0.2 Indicated Pitshell 14,432,900 1.4 0.68 0.62 0.05 0.51 0.99 0.73
0.2 Inferred Pitshell 446,649,000 0.6 0.31 0.25 0.02 0.16 0.38 0.33
There is good potential to expand the quantity and grade of mineralization on the
Property to cover the entire Quill Creek Ultramafic intrusive. The Quill Creek
intrusive has been outlined by an aeromagnetic survey. Drilling on the adjacent
Burwash claims held by Prophecy Platinum indicates that the mineralizing system
has the potential to continue along the entire 10 km strike length.
Exploration to date has concentrated on the lower gabbroic section of the ultramafic
body. Recent exploration has concentrated on the evaluation of the Property’s
potential to host larger, but lower grade, tonnages of PGM enriched nickel-copper
mineralization for potential open pit extraction. The occurrences of higher grade
pockets of semi-massive sulphides (more than 1% copper and nickel and more than
2 g/t platinum) as historically mined by Hudson Yukon Mining are expected to be
continually located through exploration efforts. These higher grade pockets,
although not continuous, could be targeted in a potential open pit operation in order
to accelerate the Project’s pay back.
A large portion of the drill data set does not include platinum, palladium assay,
rhodium, ruthenium, rhenium, iridium, osmium, which would potentially enhance any
sort of economic evaluation of the Property.
Little in the way of SG is available despite several years of exploration and limited
operations.
Based on the economic parameters and optimized pit shell determined from the pit
optimization analysis, the ultimate pit design for the project generated the key results
shown in Table 25.2.
Table 25.2 Optimum Pit Shell Results
Item
Tonnes
(Mt)
Ni
(%)
Cu
(%)
Co
(%)
Au
(g/t)
Pt
(g/t)
Pd
(g/t)
Mineralized Material
Indicated 14.5 0.65 0.59 0.05 0.489 0.942 0.698
Inferred 390.8 0.31 0.25 0.02 0.165 0.391 0.334
Waste Rock 1,043.0 - - - - - -
Stripping Ratio 2.57:1 - - - - - -