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

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Test No.: F1 <strong>Project</strong> No.: 50149-001 Operator: YW Date: September 15 2011 Purpose: Rougher flotation sighter test Procedure: As outlined below. Feed: 2 kg of minus 10 mesh of Master Composite Grind: Regrind: 57 minutes / 2 kg @ 65% solids in laboratory Ball Mill Feed K80 :90 µm Conditions: Stage 245 Reagents added, grams per tonne SIPX 3477 PAX CMC Lime MIBC* Time, minutes Grind Cond. Froth pH Grind 57 Condition 40 10 1 9.0 Rougher 1 4 Condition 30 5 1 8.8 Rougher 2 6 Condition 30 5 1 8.9 Rougher 3 8 Total 0 100 0 0 0 0 20 57 3 18 * As required Stage Rougher Flotation Cell 1000-D12 Speed: rpm 1800 Assay for: PSA on tail Cu, Ni, S, Pt, Pd, Au Metallurgical Balance Product Weight Assays, (Pt, Pd, Au g/t), (Cu, Ni, S %) % Distribution g % Cu Ni S Pt Pd Au Cu Ni S Pt Pd Au Ro Conc 1 191.6 11.1 2.81 3.00 11.3 1.78 3.33 0.351 84.7 70.8 39.7 44.8 73.1 72.5 Ro Conc 2 148.5 8.57 0.23 0.50 7.91 1.11 0.62 0.064 5.4 9.1 21.5 21.7 10.5 10.2 Ro Conc 3 150.0 8.65 0.09 0.26 5.77 0.54 0.30 0.032 2.1 4.8 15.8 10.6 5.1 5.2 Ro Tail 1244 71.7 0.04 0.10 1.01 0.14 0.08 0.009 7.8 15.3 23.0 22.9 11.3 12.1 Head ( calc. ) 1734 100 0.37 0.47 3.15 0.44 0.50 0.053 100 100 100 100 100 100 Head (direct) 0.33 0.42 2.53 0.41 0.45 0.040 Combined Product Weight Assays, (Pt, Pd, Au g/t), (Cu, Ni, S %) % Distribution g % Cu Ni S Pt Pd Au Cu Ni S Pt Pd Au Ro Conc 1 191.6 11.1 2.81 3.00 11.3 1.78 3.33 0.35 84.7 70.8 39.7 44.8 73.1 72.5 Ro Conc 1-2 340.1 19.6 1.68 1.91 9.84 1.49 2.15 0.23 90.1 79.9 61.2 66.5 83.7 82.8 Ro Conc 1-3 490.1 28.3 1.20 1.40 8.60 1.20 1.58 0.17 92.2 84.7 77.0 77.1 88.7 87.9 Product Weight Assays, % % Distribution g % Cp Pn Po Gangue Cp Pn Po Gangue Rougher 1 191.6 11.1 8.14 8.40 15.0 68.4 84.7 73.2 26.7 8.3 Rougher 2 148.5 8.57 0.67 1.21 19.2 79.0 5.4 8.2 26.4 7.4 Rougher 3 150.0 8.65 0.26 0.58 14.4 84.7 2.1 3.9 20.1 8.0 Rougher Tail 1244 71.7 0.12 0.26 2.33 97.3 7.8 14.7 26.8 76.3 Head (calc.) 1734 100 1.06 1.27 6.22 91.4 100 100 100 100 Combined Products Ro Conc 1 11.1 8.14 8.40 15.0 68.4 84.7 73.2 26.7 8.3 Ro Conc 1-2 19.6 4.88 5.26 16.8 73.0 90.1 81.4 53.1 15.7 Ro Conc 1-3 28.3 3.47 3.83 16.1 76.6 92.2 85.3 73.2 23.7 Ro Tail 71.7 0.12 0.26 2.33 97.3 7.82 14.7 26.8 76.3
Test No.: F2 <strong>Project</strong> No.: 50149-001 Operator: YW Date: September 15 2011 Purpose: Rougher flotation sighter test Procedure: As outlined below. Feed: 2 kg of minus 10 mesh of Master Composite Grind: 57 minutes / 2 kg @ 65% solids in laboratory Ball Mill Regrind: Conditions: Stage Feed K 80 :92 µm 245 SIPX 3477 PAX CMC Lime MIBC* Grind Cond. Froth Grind 57 Condition 30 10 1 9.1 Rougher 1 4 Condition 30 5 1 8.9 Rougher 2 6 Condition 20 5 1 8.9 Rougher 3 8 Total 0 0 0 80 0 0 20 57 3 18 * As required Stage Rougher Flotation Cell 1000-D12 Speed: rpm 1800 Assay for: PSA on tail Cu, Ni, S, Pt, Pd, Au Metallurgical Balance Product Reagents added, grams per tonne Time, minutes Weight Assays, (Pt, Pd, Au g/t), (Cu, Ni, S %) % Distribution g % Cu Ni S Pt Pd Au Cu Ni S Pt Pd Au Ro Conc 1 180.8 9.12 3.10 2.73 8.92 1.16 2.56 0.193 79.0 53.7 26.3 26.2 57.2 47.3 Ro Conc 2 184.5 9.31 0.30 1.06 8.08 1.29 0.75 0.063 7.80 21.3 24.3 29.7 17.1 15.7 Ro Conc 3 127.7 6.44 0.15 0.40 6.60 0.78 0.44 0.039 2.70 5.56 13.7 12.4 6.96 6.75 Ro Tail 1489 75.1 0.05 0.12 1.47 0.17 0.10 0.015 10.5 19.4 35.7 31.6 18.8 30.2 Head ( calc. ) 1982 100 0.36 0.46 3.10 0.40 0.41 0.037 100 100 100 100 100 100 Head (direct) 0.33 0.42 2.53 0.41 0.45 0.040 Combined Product Weight Assays, (Pt, Pd, Au g/t), (Cu, Ni, S %) % Distribution g % Cu Ni S Pt Pd Au Cu Ni S Pt Pd Au Ro Conc 1 180.8 9.12 3.10 2.73 8.92 1.16 2.56 0.19 79.0 53.7 26.3 26.2 57.2 47.3 Ro Conc 1-2 365.3 18.4 1.69 1.89 8.50 1.23 1.65 0.13 86.8 75.0 50.6 55.9 74.3 63.0 Ro Conc 1-3 493.0 24.9 1.29 1.50 8.00 1.11 1.33 0.10 89.5 80.6 64.3 68.4 81.2 69.8 Product Weight Assays, % % Distribution g % Cp Pn Po Gangue Cp Pn Po Gangue Rougher 1 180.8 9.12 8.99 7.70 8.51 74.8 79.0 56.0 12.7 7.45 Rougher 2 184.5 9.31 0.87 2.82 18.0 78.3 7.80 20.9 27.5 7.96 Rougher 3 127.7 6.44 0.43 0.96 16.1 82.5 2.70 4.92 17.0 5.80 Rougher Tail 1489 75.1 0.14 0.30 3.47 96.1 10.5 18.1 42.7 78.8 Head (calc.) 1982 100.0 1.04 1.26 6.1 91.6 100 100 100 100 Combined Products Ro Conc 1 9.12 8.99 7.70 8.51 74.8 79.0 56.0 12.7 7.45 Ro Conc 1-2 18.4 4.89 5.24 13.3 76.6 86.8 76.9 40.2 15.4 Ro Conc 1-3 24.9 3.73 4.13 14.0 78.1 89.5 81.9 57.3 21.2 Ro Tail 75.1 0.14 0.30 3.47 96.1 10.5 18.1 42.7 78.8 pH
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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 326 and 327: 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 364 and 365: SGS Minerals Services Standard Bond
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 378 and 379: Test No.: F3 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-
Page 418 and 419: Test No.: HNI-F1 Project No.: 50149
Page 420 and 421: Test: HNI-F3 Project: 11603-005 501
Page 422 and 423: Test: HNI-F5 Project: 11603-005 501
Page 424 and 425: 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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