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

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SGS Minerals Services Standard Bond Ball Mill Grindability Test <strong>Project</strong> No.: 50149-001 Product: Minus 6 Mesh Date: SEPT 13,2011 Sample.: MC Comp Purpose: To determine the ball mill grindability of the sample in terms of a Bond work index number. Procedure: The equipment and procedure duplicate the Bond method for determining ball mill work indices. Test Conditions: Mesh of grind: 150 mesh Test feed weight (700 mL): 1431.1 grams Equivalent to : 2044 kg/m³ at Minus 6 mesh Weight % of the undersize material in the ball mill feed: 4.2 % Weight of undersize product for 250% circulating load: 409 grams Results: Average for Last Three Stages = 0.91g. 246% Circulation load BWI = CALCULATION OF A BOND WORK INDEX P1 = 100% passing size of the product 106 microns Grp = Grams per revolution 0.91 grams P80 = 80% passing size of product 80 microns F80 = 80% passing size of the feed 2621 microns BWI = 17.9 (imperial) BWI = 19.7 (metric) 44.5 { 0.23 0.82 10 10 P1 x Grp x P F MC Comp Results updated 07/23/2012 CONFIDENTAL Page 1 of 3 {
Grindability Test Data <strong>Project</strong> No.: 50149-001 Test No.: MC Comp Undersize U'Size Undersize Product Stage New In To Be In Per Mill No. Revs Feed Feed Ground Product Total Rev (grams) (grams) (grams) (grams) (grams) (grams) 1 150 1,431 60 349 229 169 1.13 2 354 229 10 399 302 292 0.83 3 480 302 13 396 411 399 0.83 4 472 411 17 392 437 419 0.89 5 440 437 18 391 415 396 0.90 6 435 415 17 392 408 390 0.90 7 437 408 17 392 420 403 0.92 Average for Last Three Stages = 414g. 0.91g. Feed K80 Size Weight % Retained % Passing Mesh µm grams Individual Cumulative Cumulative 6 3,360 0.0 0.0 0.0 100.0 7 2,800 31.2 12.6 12.6 87.4 8 2,360 40.8 16.5 29.1 70.9 10 1,700 55.8 22.6 51.7 48.3 14 1,180 43.4 17.6 69.3 30.7 20 850 20.2 8.2 77.5 22.5 28 600 15.1 6.1 83.6 16.4 35 425 10.8 4.4 88.0 12.0 48 300 7.2 2.9 90.9 9.1 65 212 5.0 2.0 92.9 7.1 100 150 4.2 1.7 94.6 5.4 150 106 3.0 1.2 95.8 4.2 Pan -106 10.3 4.2 100.0 0.0 Total - 247.0 100.0 - - K80 2,621 Product K80 Size Weight % Retained % Passing Mesh µm grams Individual Cumulative Cumulative 65 212 0.0 0.0 0.0 100.0 100 150 0.0 0.0 0.0 100.0 150 106 0.0 0.0 0.0 100.0 170 90 17.2 11.2 11.2 88.8 200 75 19.7 12.9 24.1 75.9 270 53 23.4 15.3 39.4 60.6 400 38 17.2 11.2 50.6 49.4 Pan -38 75.7 49.4 100.0 0.0 Total - 153.2 100.0 - - K80 80 MC Comp Results updated 07/23/2012 CONFIDENTAL Page 2 of 3
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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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assess laboratory results, users ar
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Constituent Unit Mean Table 2 - Pro
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Table 3 - Informational Values Cons
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CERTIFYING OFFICER ________________
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An Investigation into METALLURGICAL
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Prophecy Platinum Corporation - Wel
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Sample Fraction Mass Size Distribut
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Mass (% Chalcopyrite) Prophecy Plat
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Mass (% Pentlandite) Prophecy Plati
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Mass (% Pyrrhotite) Prophecy Platin
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Pyrrhotite Recovery % Prophecy Plat
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Cu Rec, % Ni Rec, % Gng Rec, % 100
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Grade (%) Cu + Ni Grade (g/t) PGE G
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Page 314 and 315: Prophecy Platinum Corporation - Wel
Page 342 and 343: Prophecy, Wellgreen samples 50149-0
Page 344 and 345: 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
Page 366 and 367: Project No.: 50149-001 Test No.: MC
Page 368 and 369: SGS Minerals Services STANDARD BOND
Page 370 and 371: SGS Minerals Services Project No. D
Page 376 and 377: Test No.: F1 Project No.: 50149-001
Page 394 and 395: Test No.: Sep-F1 Project No.: 50149
Page 406 and 407: Test: F30 Project: 11603-005 50149-
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Test: F38 Project: 11603-005 50149-
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Test No.: F40 Project No.: 50149-00
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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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