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

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Test No.: F3 <strong>Project</strong> No.: 50149-001 Operator: YW Date: September 23 2011 Purpose: Rougher Flotation test, Decrease SIPX Procedure: As outlined below. Feed: 2 kg of minus 10 mesh of Master Composite Grind: 57minutes / 2 kg @ 65% solids in laboratory Ball Mill Regrind: Conditions: Stage Target Feed K 80 :90 µm 245 SIPX 3477 PAX CMC MIBC* DF 250 Grind Cond. Froth Grind 5 57 Condition 1 Rougher 1 10 1 2 8.8 53 Rougher 2 5 5 1 2 8.7 42 Rougher 3 10 5 1 4 8.7 22 Rougher 4 20 5 1 4 8.8 0.6 Rougher 5 30 1 8 8.7 23 Total 0 70 0 0 0 25 * As required 0 57 6 20 Stage Rougher Flotation Cell 1000-D12 Assay for: Cu, Ni, S, Pt, Pd, Au Speed: rpm 1800 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 68.8 3.47 2.26 0.38 3.81 0.50 2.55 0.14 22.1 2.84 4.40 3.90 19.7 11.0 Ro Conc 2 93.2 4.70 4.53 4.75 12.5 2.04 3.92 0.33 60.1 48.1 19.6 21.6 41.0 35.2 Ro Conc 3 86.7 4.37 0.61 2.25 9.47 2.19 1.41 0.10 7.53 21.2 13.8 21.5 13.7 9.92 Ro Conc 4 40.6 2.05 0.27 0.69 9.34 1.91 0.71 0.06 1.56 3.05 6.36 8.79 3.24 2.79 Ro Conc 5 68.3 3.44 0.15 0.48 11.4 1.43 0.53 0.05 1.46 3.56 13.1 11.1 4.06 3.91 Ro Tail 1626 82.0 0.03 0.12 1.57 0.18 0.10 0.02 7.18 21.2 42.8 33.2 18.3 37.2 Ro Tails Ni(s)=0.061 Head ( calc. ) 1983 100 0.35 0.46 3.00 0.44 0.45 0.04 100 100 100 100 100 100 Head (direct) 0.33 0.42 2.53 0.41 0.45 0.04 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 68.8 3.47 2.26 0.38 3.81 0.50 2.55 0.14 22.1 2.84 4.40 3.90 19.7 11.0 Ro Conc 1-2 162.0 8.17 3.57 2.89 8.81 1.39 3.34 0.25 82.3 51.0 24.0 25.4 60.7 46.2 Ro Conc 1-3 248.7 12.5 2.54 2.67 9.04 1.67 2.67 0.20 89.8 72.2 37.7 47.0 74.4 56.1 Ro Conc 1-4 289.3 14.6 2.22 2.39 9.08 1.70 2.39 0.18 91.4 75.2 44.1 55.8 77.7 58.9 Ro Conc 1-5 357.6 18.0 1.82 2.03 9.52 1.65 2.04 0.15 92.8 78.8 57.2 66.8 81.7 62.8 Product Weight Assays, % % Distribution g % Cp Pn Po Gangue Cp Pn Po Gangue Rougher 1 68.8 3.47 6.55 1.05 3.08 89.3 22.1 2.90 1.82 3.37 Rougher 2 93.2 4.70 13.1 13.5 9.11 64.3 60.1 50.3 7.29 3.29 Rougher 3 86.7 4.37 1.77 6.22 17.9 74.1 7.53 21.6 13.3 3.53 Rougher 4 40.6 2.05 0.78 1.72 22.4 75.1 1.56 2.79 7.80 1.67 Rougher 5 68.3 3.44 0.43 1.04 28.7 69.8 1.46 2.86 16.8 2.62 Rougher Tail 1626 82.0 0.09 0.30 3.79 95.8 7.18 19.5 52.9 85.5 Head (calc.) Combined Products 1983 100 1.03 1.26 5.87 91.8 100 100 100 100 Ro Conc 1 3.47 6.55 1.05 3.08 89.3 22.1 2.90 1.82 3.37 Ro Conc 1-2 8.17 10.3 8.19 6.55 74.9 82.3 53.2 9.11 6.66 Ro Conc 1-3 12.5 7.35 7.51 10.5 74.6 89.8 74.8 22.4 10.2 Ro Conc 1-4 14.6 6.43 6.69 12.2 74.7 91.4 77.6 30.2 11.9 Ro Conc 1-5 18.0 5.28 5.62 15.3 73.8 92.8 80.5 47.1 14.5 Ro Tail 82.0 0.09 0.30 3.79 95.8 7.18 19.5 52.9 85.5 pH Eh
Test No.: F4 <strong>Project</strong> No.: 50149-001 Operator: YW Date: September 23 2011 Purpose: Rougher Flotation test, Increase pH using Soda ash Procedure: As outlined below. Feed: 2 kg of minus 10 mesh of Master Composite Grind: 57minutes / 2 kg @ 65% solids in laboratory Ball Mill Regrind: Conditions: Stage Target Feed K 80 : :90 µm Soda ash SIPX 3477 PAX CMC MIBC* DF 250 Grind Cond. Froth Grind 400 5 57 Condition 1 Rougher 1 654 10 1 2 9.8 -11 Rougher 2 5 5 1 2 9.6 15 Rougher 3 10 5 1 4 9.5 -0.6 Rougher 4 20 5 1 4 9.5 -11 Rougher 5 30 1 8 9.5 -21 Total 1054 70 0 0 0 25 * As required 0 57 6 20 Stage Rougher Flotation Cell 1000-D12 Assay for: Cu, Ni, S, Pt, Pd, Au Speed: rpm 1800 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 59.9 3.02 1.86 0.38 3.55 0.61 3.73 0.14 15.7 2.54 3.36 4.48 25.4 8.64 Ro Conc 2 93.8 4.72 4.99 5.24 15.1 2.24 3.84 0.43 66.0 54.8 22.4 25.8 41.0 41.5 Ro Conc 3 124 6.25 0.48 1.36 9.94 1.96 1.09 0.09 8.41 18.8 19.5 29.8 15.4 11.5 Ro Conc 4 48.5 2.44 0.23 0.47 7.70 1.43 0.59 0.05 1.57 2.54 5.90 8.50 3.26 2.50 Ro Conc 5 79.4 4.00 0.12 0.41 12.5 1.04 0.46 0.04 1.34 3.63 15.7 10.1 4.16 3.27 Ro Tail 1580 79.6 0.03 0.10 1.33 0.11 0.06 0.02 6.91 17.6 33.2 21.3 10.8 32.5 Head ( calc. ) 1985.9 100 0.36 0.45 3.19 0.41 0.44 0.049 100 100 100 100 100 100 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 59.90 3.02 1.86 0.38 3.55 0.61 3.73 0.14 15.7 2.54 3.36 4.48 25.4 8.64 Ro Conc 1-2 153.7 7.74 3.77 3.35 10.6 1.60 3.80 0.32 81.8 57.4 25.7 30.2 66.4 50.2 Ro Conc 1-3 277.8 14.0 2.30 2.46 10.3 1.76 2.59 0.22 90.2 76.2 45.2 60.1 81.8 61.7 Ro Conc 1-4 326.3 16.4 1.99 2.16 9.92 1.71 2.29 0.19 91.7 78.7 51.1 68.6 85.1 64.2 Ro Conc 1-5 405.7 20.4 1.63 1.82 10.4 1.58 1.93 0.16 93.1 82.4 66.8 78.7 89.2 67.5 Product Weight Assays, % % Distribution g % Cp Pn Po Gangue Cp Pn Po Gangue Rougher 1 59.9 3.02 5.39 1.05 3.47 90.1 15.7 2.59 1.64 2.97 Rougher 2 93.8 4.72 14.5 14.8 13.5 57.2 66.0 57.5 10.0 2.96 Rougher 3 124 6.25 1.39 3.64 21.7 73.3 8.41 18.7 21.3 5.01 Rougher 4 48.5 2.44 0.67 1.13 18.7 79.5 1.57 2.27 7.15 2.13 Rougher 5 79.4 4.00 0.35 0.81 31.9 67.0 1.34 2.65 20.0 2.93 Rougher Tail 1580 79.6 0.09 0.25 3.20 96.5 6.91 16.3 39.9 84.0 Head (calc.) Combined Products 1985.9 100.0 1.03 1.22 6.38 91.4 100 100 100 100 Ro Conc 1 3.02 5.4 1.05 3.47 90.1 15.7 2.59 1.64 3.0 Ro Conc 1-2 7.74 10.9 9.45 9.62 70.0 81.8 60.1 11.7 5.9 Ro Conc 1-3 14.0 6.7 6.85 15.0 71.5 90.2 78.8 32.9 10.9 Ro Conc 1-4 16.4 5.8 6.00 15.6 72.7 91.7 81.1 40.1 13.1 Ro Conc 1-5 20.4 4.7 4.99 18.8 71.5 93.1 83.7 60.1 16.0 Ro Tail 79.6 0.09 0.25 3.20 96.5 6.91 16.3 39.93 84.0 pH Eh
Page 1 and 2:
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 328 and 329: 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 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-
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
Page 426 and 427: 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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