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

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Mass (% Chalcopyrite) Prophecy Platinum Corporation – Wellgreen Property – Project 50149-001 Chalcopyrite Association - Master Comp 100 90 80 70 60 50 40 30 20 10 0 Combined +75 um -75/+25 um -25 um Complex 16.5 72.2 27.1 4.9 Chalcopyrite:Other 0.2 0.0 0.0 0.2 Chalcopyrite:Oxides 0.3 0.1 0.7 0.2 Chalcopyrite:Other Silicates 1.1 1.7 1.4 0.8 Chalcopyrite:Serp/Chlorite 3.4 5.2 5.0 2.3 Chalcopyrite:Pyx/Amph 1.3 3.2 2.4 0.5 Chalcopyrite:Po:Pn 0.7 1.5 1.6 0.1 Chalcopyrite:Pentlandite 0.7 0.1 0.4 0.9 Chalcopyrite:Pyrrhotite 3.6 2.7 5.9 2.5 Lib Chalcopyrite 7.8 5.0 6.8 8.6 Free Chalcopyrite 9.4 2.8 14.7 7.6 Pure Chalcopyrite 55.2 5.4 34.1 71.3 Figure 3: Chalcopyrite Mineral Association SGS Minerals Services 8
Mass (% Chalcopyrite) Prophecy Platinum Corporation – Wellgreen Property – Project 50149-001 100 90 80 70 60 50 40 30 20 10 0 Chalcopyrite Exposure - Master Comp Combined +75 um -75/+25 um -25 um Locked 1.1 6.1 1.8 0.2 0-30% Exposed 13.3 55.5 21.9 4.2 30-50% Exposed 5.5 16.3 8.1 3.0 50-80% Exposed 10.3 10.2 14.1 8.4 Exposed 69.8 11.8 54.0 84.3 Figure 4: Chalcopyrite Exposure Chalcopyrite liberation in the sample is reasonably good at a grind size of ~80 µm. The pure, free, and liberated chalcopyrite accounts for 72% of the mineral mass overall. In the coarsest size fraction, this decreases to 13% of the Cu being liberated, with the expected increase in liberation in the finer fractions. Visual representations of these particles grouped by liberation class are shown in Appendix G. Most of the chalcopyrite exists as liberated minerals but there are associations with other sulphides and complex gangue particles in all size fractions. A regrind will be necessary in order to fully liberate the copper minerals. Minor amounts of chalcopyrite are associated with nickel sulphides. Examining the exposure data, 70% of the chalcopyrite in the sample is totally exposed; the best exposure is seen in the -25 microns fraction. Locked chalcopyrite is 6% in the +75 microns fraction dropping to less than 1% in the -25 microns. Less than 1.1% of the overall chalcopyrite was locked. SGS Minerals Services 9
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Report to: Wellgreen Project Prelim
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TABLE OF CONTENTS 1.0 SUMMARY .....
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14.1.8 MINERAL RESOURCE TABULATION
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26.1.2 PHASE 2 - QUILL CREEK ULTRAM
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Table 19.2 Palladium Demand and Sup
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Figure 19.3 London Metals Exchange
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litres per minute .................
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International All-North Resources L
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1.0 S UMMARY 1.1 I NTRODUCTION Tetr
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This PEA has been prepared by Tetra
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Numerous operators have worked on t
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1.6 M INING M ETHODS The Project is
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Figure 1.2 Wellgreen Project Overal
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Table 1.6 Capital Cost Summary (US$
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The following financial results wer
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Figure 1.3 illustrates that the Pro
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Figure 1.5 Project Execution Plan P
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2.0 INTRODUCTION Tetra Tech was com
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3.0 RELIANCE ON OTHER EXPERTS Tetra
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Figure 4.1 Location Map Prophecy Pl
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All work undertaken on the surface
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Figure 4.3 Wellgreen Surface Lease
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Other than those liabilities set fo
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5.3 C LIMATE The climate is alpine,
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Year Company Activities 1970 Hudson
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Year Company Activities 2008 Corona
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6.2.3 NORTHERN P LATINUM 2009 PROGR
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Figure 7.1 Regional Geology Map Pro
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Figure 7.3 Property Geology Prophec
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Longitudinal faults and/or shears a
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Figure 7.4 Wellgreen Plan View Prop
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7.2.3 NORTH ZONE The North Zone is
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Table 7.3 PGE-Bearing Minerals in t
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Gabbroid-associated Nickel, Copper,
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10.0 DRILLING 10.1 H ISTORICAL D RI
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Figure 10.1 Prophecy Platinum Drill
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Table 10.4 Prophecy Platinum 2011 D
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• The course rejects returned fro
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Figure 10.4 Core Storage Facility P
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11.0 SAMPLE PREPARATION, ANALYSES,
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12.0 DATA VERIFICATION Tetra Tech
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Table 12.2 Check Assays Prophecy Pl
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13.0 MINERAL PROCESSING AND METALLU
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An elemental analysis of typical co
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Minerals Peridotite Composite 1 Min
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Ni Deposits” shows that the grade
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13.3 SGS V ANCOUVER - J UNE 2012 A
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14.0 MINERAL RESOURCE ESTIMATES 14.
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Table 14.3 summarizes the grade cap
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The NiEq value was assigned to all
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Table 14.7 Wellgreen Variogram Summ
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Table 14.9 Estimation Criteria Zone
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Table 14.10 Search Parameters Zone
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NiEq Cut-off Tonnes NiEq (%) Ni (%)
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Figure 14.2 Wellgreen Platinum, Pal
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Figure 14.4 Wellgreen Platinum, Pal
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Figure 14.6 Wellgreen Pit Resource
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14.1.9 VALIDATION The Wellgreen mod
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Figure 14.9 East Zone Cross Section
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Figure 14.10 Wellgreen Nickel Secti
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Figure 14.14 Wellgreen Platinum Sec
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Figure 14.18 Wellgreen Cobalt Eleva
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14.2 P REVIOUS E STIMATES Table 14.
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15.0 MINERAL RESERVE ESTIMATES A mi
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The selected base case pit contains
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OVERALL O PEN P IT SLOPE ANGLE Tetr
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Table 16.4 Pit Optimization Results
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The pit optimization process includ
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16.4 P RODUCTION S CHDULE Using Pit
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Year Waste (t) Total (t) Strip Rati
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Figure 16.5 Sequence of Development
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PHASE III During Phase III, the pit
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16.5.4 EXPLOSIVES A contractor will
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Table 16.9 Pit Design Criteria Item
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Equipment Fleet Size Units Crew Bus
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Figure 17.1 Overall Wellgreen Proce
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17.2 P ROCESS D ESIGN C RITERIA The
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17.5 P ROCESS P LANT The process pl
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Figure 18.1 Wellgreen Project Overa
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ultimate impoundment surface area o
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Table 19.2 Palladium Demand and Sup
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Figure 19.3 London Metals Exchange
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Figure 19.5 Nickel Demand (2009 to
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20.0 ENVIRONMENTAL STUDIES, PERMITT
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Tailings and mill concentrate sampl
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20.2.4 AQUATIC RESOURCES The Proper
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Figure 20.2 Wildlife Ranges-Woodlan
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Figure 20.4 Wildlife Ranges-Mountai
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Figure 20.6 Wildlife Ranges-Grizzly
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Figure 20.8 Aquatic Resources Proph
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20.3.2 LICENSING The Project will b
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(Transport Canada 2010). New constr
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Table 20.1 Applicable Legislation,
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20.4 M I NE C LOSURE AND R ECLAMATI
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Umbrella Final Agreement, the White
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20.5.2 NON-ABORIGINAL COMMUNITIES T
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21.0 C APITAL AND O PERATING C OSTS
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Mine Equipment 21.2.2 SUSTAINING 20
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Table 21.7 Contingency (US$ million
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• mobilization and demobilization
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Spares • safety including safety
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21.3 O PERATING C OSTS 21.3.1 GENER
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Table 21.11 Summary of Mining Opera
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Mine Operations Position No. Annual
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22.0 ECONOMIC A NALYSIS 22.1 I NTRO
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Table 22.3 Metal Production from th
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Table 22.4 Summary of Pre-tax Finan
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22.4 M ETAL P RICE S CENARIOS The L
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Figure 22.3 IRR Sensitivity Analysi
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Figure 23.1 Adjacent Properties Pro
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Figure 24.1 Wellgreen Project Execu
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25.2 M INING Table 25.1 Wellgreen R
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Table 25.4 Process Capital Cost Sum
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Table 26.1 Wellgreen Expansion Budg
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26.2 M INING sample selection shoul
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Page 233 and 234: • develop a negotiation strategy
Page 235 and 236: METALLURGY Davis, David and Bruwer,
Page 237 and 238: Yukon Environmental and Socio-econo
Page 239 and 240: TODD MCCRACKEN, P.GEO. I, Todd McCr
Page 241 and 242: PHILIP BRIDSON, P.ENG. I, Philip Br
Page 243 and 244: APPENDIX A L IST OF C LAIMS
Page 245 and 246: District GrantNumber RegType ClaimN
Page 256 and 257: Certificate of Analysis First issue
Page 258 and 259: Hf µg/g 0.5 4 / 20 Ho µg/g 0.2 3
Page 260 and 261: assess laboratory results, users ar
Page 262 and 263: Constituent Unit Mean Table 2 - Pro
Page 264 and 265: Table 3 - Informational Values Cons
Page 266 and 267: CERTIFYING OFFICER ________________
Page 268 and 269: An Investigation into METALLURGICAL
Page 270 and 271: Prophecy Platinum Corporation - Wel
Page 280 and 281: Sample Fraction Mass Size Distribut
Page 284 and 285: Mass (% Pentlandite) Prophecy Plati
Page 286 and 287: Mass (% Pyrrhotite) Prophecy Platin
Page 290 and 291: Pyrrhotite Recovery % Prophecy Plat
Page 298 and 299: Cu Rec, % Ni Rec, % Gng Rec, % 100
Page 310 and 311: Grade (%) Cu + Ni Grade (g/t) PGE G
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Prophecy Platinum Corporation - Wel
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Prophecy, Wellgreen samples 50149-0
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OnLine LIMS SGS Lakefield Research
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Certificate of Analysis Work Order:
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Final : VC120756 Revision REVISED O
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Final : VC120590A Revision REVISED
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SGS Minerals Services Standard Bond
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Project No.: 50149-001 Test No.: MC
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SGS Minerals Services STANDARD BOND
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SGS Minerals Services Project No. D
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Test No.: F1 Project No.: 50149-001
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Test No.: Sep-F1 Project No.: 50149
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Test: F30 Project: 11603-005 50149-
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Test: F32 Project: 11603-005 50149-
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Test: F34 Project: 11603-005 50149-
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Test: F36 Project: 11603-005 50149-
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Test: F38 Project: 11603-005 50149-
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Test No.: HNI-F1 Project No.: 50149
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Test: HNI-F3 Project: 11603-005 501
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Test: HNI-F5 Project: 11603-005 501
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Test: LCT-1 Project: 50149-001 Date
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Test: LCT-1 Overall Stability Total
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Test: LCT-2 Metallurgical Predictio
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Test: LCT-4 Project: 50149-001 Date
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Test: LCT-4 Overall Stability Total
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Prophecy Platinum Corp 50149-101 MI
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Mineral Abundance (wt.%) 100 90 80
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CAVM-50149-101 MI7018-MAR12 Sample
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CAVM-50149-101 MI7018-MAR12 Sample
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erra Mineralogical Services Inc. Mi
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TerraMS-12JUL-001 Wellgreen - Pt-Pd
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APPENDIX D M INING
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LG Phase Revenue Factor (%) Mineral
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Figure 3 Overall Ultimate Pit Produ
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Table 3 Penetration and Drilling Ra
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HAULAGE General Hauling Conditions
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Year Mechanical Availability (%) Us
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