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

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Grade (%) Cu + Ni Grade (g/t) PGE Grade (g/t) PGE 30 25 20 15 10 5 0 20 18 16 14 12 10 8 6 4 2 0 20 18 16 14 12 10 8 6 4 2 0 Prophecy Platinum Corporation – Wellgreen Property – Project 50149-001 40 50 60 70 80 90 100 Cu Recovery (%) 0 10 20 30 40 50 60 70 80 90 100 Pt Recovery (%) 0 10 20 30 40 50 60 70 80 90 100 Au Recovery (%) F9 F10 F11 F12 F13 F14 F15 F16 F17 F19 F20 F21 F22 F23 F25 F9 F10 F11 F12 F13 F14 F15 F16 F17 F19 F20 F21 F22 F23 F25 F9 F10 F11 F12 F13 F14 F15 F16 F17 F19 F20 F21 F22 F23 F25 Grade (%) Cu + Ni Grade (g/t) PGE 30 25 20 15 10 20 18 16 14 12 10 SGS Minerals Services 8 6 4 2 0 5 0 100 90 80 70 60 50 40 30 20 10 0 0 10 20 30 40 50 60 70 80 90 100 Ni Recovery (%) 0 10 20 30 40 50 60 70 80 90 100 Pd Recovery (%) 0 10 20 30 40 50 60 70 80 90 100 S Recovery (%) Figure 23: Recovery vs. Cu+Ni and PGE grade Based on the results of test F12, if an 18% Cu+Ni concentrate grade is acceptable, the average Cu and Ni recovery is expected to be approximately 79% and 50%, respectively. At higher Cu+Ni concentrate grades, Cu and Ni recoveries are expected to decrease. The recoveries quoted are for open-circuit batch tests and are expected to be slightly higher in a closed circuit. The combined Au, Pt, and Pd grade of the test F12 is 14 g/t. The Pt, Pd and Au recoveries are 22%, 53% and 53%, respectively. 4.1.3. Copper Nickel Separation In addition to standard cleaning, one test (Sep-F1) investigated the feasibility of copper nickel separation. The intention was to draw attention to a possible method for producing separate copper and nickel concentrates while minimizing nickel losses into the copper concentrate. The flowsheet for this separation testwork is outlined in Figure 24. Ni Recovery (%) F9 F10 F11 F12 F13 F14 F15 F16 F17 F19 F20 F21 F22 F23 F25 F9 F10 F11 F12 F13 F14 F15 F16 F17 F19 F20 F21 F22 F23 F25 F9 F10 F11 F12 F13 F14 F15 F16 F17 F19 F20 F21 F22 F23 F25 36
Prophecy Platinum Corporation – Wellgreen Property – Project 50149-001 Primary grinding Bulk Clnr 1 Re-grinding Bulk Clnr 1 Scav. Bulk Clnr 2 Cu Rougher Bulk Clnr 3 SGS Minerals Services Rghr 1, 2, 3, 4, 5 Cu Cleaner Cu Concentrate Bulk Clnr Scav. Tails Bulk Clnr 2 Tails Figure 24: Cu/Ni Separation Flowsheet used in Test Sep-F1 Rghr Tails Bulk Clnr 3 Tails Cu Rghr Tails ( Ni Conc. ) Cu Clnr Tails (Ni Conc.) The most notable results observed in test Sep-F1 show the rougher stage produced a copper concentrate assaying 18% Cu at 60% recovery. This test featured a copper rougher tail producing a final Ni concentrate of 7.5% Ni at 51.5% recovery. Bulk cleaner in this test observed recoveries of 76% and 52% for copper and nickel respectively into the final 3 rd cleaner concentrate at a grade of 15% Cu+Ni. Cu/Ni separation test results are presented in Table 12. Detailed test results are attached in the Appendix E. 37
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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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Trade-off studies should be complet
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• develop a negotiation strategy
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METALLURGY Davis, David and Bruwer,
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Yukon Environmental and Socio-econo
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TODD MCCRACKEN, P.GEO. I, Todd McCr
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PHILIP BRIDSON, P.ENG. I, Philip Br
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APPENDIX A L IST OF C LAIMS
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District GrantNumber RegType ClaimN
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Certificate of Analysis First issue
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Hf µg/g 0.5 4 / 20 Ho µg/g 0.2 3
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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 282 and 283: Mass (% Chalcopyrite) Prophecy Plat
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 342 and 343: Prophecy, Wellgreen samples 50149-0
Page 344 and 345: OnLine LIMS SGS Lakefield Research
Page 346 and 347: OnLine LIMS SGS Lakefield Research
Page 348 and 349: Certificate of Analysis Work Order:
Page 350 and 351: Final : VC120756 Revision REVISED O
Page 354 and 355: Final : VC120590A Revision REVISED
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Final : VC120590 Revision REVISED O
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OnLine LIMS SGS Lakefield Research
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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 Corporation - Wel
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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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