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

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Test: LCT-2 Metallurgical Prediction (Using Cycles C, D, E, F) Product g % Cu Ni S Pt Pd Au Fe Mgo Cu Ni S Pt Pd Au Fe MgO 3rd Clnr Concentrate 85.25 4.36 6.99 7.13 19.4 2.44 6.80 0.54 25.4 9.82 84.9 63.4 29.2 26.4 64.4 62.9 ─ ─ Cleaner Tail 249.5 12.8 0.11 0.44 3.59 0.70 0.41 0.03 ─ ─ 3.9 11.3 15.8 22.2 11.5 9.3 ─ ─ Rougher Tail 1619.6 82.9 0.05 0.15 1.93 0.25 0.13 0.01 ─ ─ 11.2 25.3 55.0 51.4 24.1 27.8 ─ ─ 1st Cleaner Regrind Con F 27.4 0.23 0.51 1.40 4.55 2.17 1.73 0.20 ─ ─ 0.3 0.7 0.4 1.2 0.9 1.2 ─ ─ Magnetic Con F 37.6 0.32 0.28 0.45 3.33 1.40 1.38 0.21 ─ ─ 0.2 0.3 0.4 1.1 1.0 1.8 ─ ─ Head (calc.) 1954.3 100.0 0.36 0.49 2.90 0.40 0.46 0.04 ─ ─ 100 100 100 100 100 100 ─ ─ (direct) 0.33 0.42 2.53 0.41 0.45 0.04 11.9 22.8 Metallurgical Balance Product Weight g % Cu Assays, (Pt, Pd, Au g/t), (Cu, Ni, Fe, MgO %) Ni S Pt Pd Au Fe Mgo Cu Ni S % Distribution Pt Pd Au Fe MgO 3rd Cleaner Conc. A 57.7 0.48 10.1 8.02 23.2 2.74 8.30 0.81 28.4 5.73 13.5 8.1 3.9 3.2 8.8 10.4 14.2 8.3 3rd Cleaner Conc. B 45.6 0.38 13.1 3.83 21.2 2.82 8.03 0.85 26.9 6.81 13.9 3.1 2.8 2.6 6.8 8.6 10.6 7.8 3rd Cleaner Conc. C 71.8 0.60 8.39 9.82 24.0 2.66 7.99 0.62 29.7 5.93 14.0 12.4 5.0 3.9 10.6 9.9 18.5 10.7 3rd Cleaner Conc. D 87.6 0.73 6.91 7.72 20.3 2.18 5.94 0.41 27.1 8.47 14.1 11.9 5.2 3.8 9.6 7.9 20.6 18.6 3rd Cleaner Conc. E 75.9 0.64 7.28 6.48 19.6 2.54 7.28 0.61 25.0 9.92 12.8 8.6 4.3 3.9 10.2 10.2 16.5 18.9 3rd Cleaner Conc. F 105.7 0.89 5.90 5.28 15.5 2.43 6.36 0.54 21.4 13.5 14.5 9.8 4.8 5.2 12.4 12.7 19.6 35.8 3rd Cleaner Tail F 74.0 0.62 0.68 3.46 7.50 2.08 2.29 0.14 1.2 4.5 1.6 3.1 3.1 2.3 0.0 0.0 2nd Cleaner Tail F 183.1 1.53 0.25 1.46 4.26 1.04 0.82 0.07 1.1 4.7 2.3 3.8 2.8 2.7 0.0 0.0 1st Cleanr Tails A 199.6 1.67 0.11 0.37 3.04 0.69 0.39 0.03 0.5 1.3 1.8 2.8 1.4 1.2 0.0 0.0 1st Cleanr Tails B 248.8 2.08 0.14 0.50 3.13 0.72 0.45 0.02 0.8 2.2 2.3 3.6 2.1 1.3 0.0 0.0 1st Cleanr Tails C 235.3 1.97 0.14 0.49 3.57 0.75 0.55 0.03 0.8 2.0 2.5 3.6 2.4 1.5 0.0 0.0 1st Cleanr Tails D 222.9 1.87 0.10 0.33 3.11 0.63 0.34 0.02 0.5 1.3 2.0 2.8 1.4 1.0 0.0 0.0 1st Cleanr Tails E 278.0 2.33 0.10 0.36 3.38 0.64 0.35 0.02 0.6 1.8 2.7 3.6 1.8 1.2 0.0 0.0 1st Cleanr Tails F (Calc) 261.8 2.19 0.10 0.56 4.24 0.78 0.43 0.04 0.6 2.6 3.2 4.1 2.1 2.3 0.0 0.0 1st Cleaner Regrind Con F 27.4 0.23 0.51 1.40 4.55 2.17 1.73 0.20 0.3 0.7 0.4 1.2 0.9 1.2 0.0 0.0 1st Cleaner Regrind Tail F 234.4 1.96 0.05 0.46 4.20 0.62 0.28 0.02 0.3 1.9 2.9 2.9 1.2 1.1 0.0 0.0 Rougher Tails A 1655.5 13.9 0.05 0.14 1.96 0.25 0.14 0.01 1.9 4.1 9.5 8.3 4.2 4.4 0.0 0.0 Rougher Tails B 1652.9 13.8 0.05 0.16 1.98 0.27 0.14 0.01 1.9 4.6 9.6 9.0 4.4 4.4 0.0 0.0 Rougher Tails C 1637.8 13.7 0.05 0.15 1.94 0.25 0.14 0.01 1.9 4.3 9.3 8.3 4.1 3.6 0.0 0.0 Rougher Tails D 1612.3 13.5 0.05 0.15 1.95 0.25 0.14 0.01 1.9 4.2 9.2 8.1 4.0 5.0 0.0 0.0 Rougher Tails E 1614.9 13.5 0.05 0.15 1.90 0.25 0.13 0.01 1.9 4.3 9.0 8.1 4.0 3.9 0.0 0.0 Rougher Tails F(Calc) 1613.2 13.5 0.04 0.15 1.92 0.25 0.13 0.02 1.7 4.2 9.1 8.2 3.9 5.4 0.0 0.0 Magnetic Con F 37.6 0.32 0.28 0.45 3.33 1.40 1.38 0.21 0.2 0.3 0.4 1.1 1.0 1.8 0.0 0.0 Magnetic Tail F 241.6 2.02 0.03 0.21 4.49 0.41 0.28 0.02 0.2 0.9 3.2 2.0 1.2 1.0 0.0 0.0 Rougher Tails F 1334.0 11.2 0.04 0.13 1.42 0.19 0.07 0.01 1.2 3.0 5.5 5.1 1.7 2.7 0.0 0.0 Head (calc.) 11934 100.0 0.36 0.48 2.87 0.42 0.45 0.04 100 100 100 100 100 100 100 100 (direct) 0.33 0.42 2.53 0.41 0.45 0.04 11.9 22.8 Overall Stability % Weight Assays, (Pt, Pd, Au g/t), (Cu, Ni, Fe, MgO %) Total Products Weight Units out as a % of Units in/Cycle Out Per Cycle Wt % Cu Ni S Pt Pd Au Fe Mgo Cycle A 1 96.2 95.8 81.0 90.9 85.8 86.6 96.0 85.3 49.7 Cycle B 2 97.9 99.6 59.4 87.9 91.2 79.1 85.7 63.8 46.7 Cycle C 3 97.8 100.0 112.4 100.6 94.0 102.3 89.8 111.0 64.0 Cycle D 4 96.7 98.7 104.5 98.4 88.8 90.1 83.5 123.5 111.6 Cycle E 5 99.0 92.1 87.9 96.3 93.7 95.9 92.2 98.7 113.3 Cycle F 6 99.6 100.4 99.6 102.5 104.8 110.5 122.5 117.7 214.6 Average of E - F 99.3 96.3 93.8 99.4 99.3 103.2 107.4 108.2 164.0 Average of D - F 98.4 97.1 97.4 99.1 95.8 98.8 99.4 113.3 146.5 Average of C - F* 98.3 97.8 101.1 99.4 95.3 99.7 97.0 112.7 125.9 * chosen for prediction 140 120 100 80 60 40 20 0 LCT-2 Circuit Stability 1 2 3 4 5 6 Wt % Cu Ni S Pt Pd Au % Distribution
Test: LCT-3 <strong>Project</strong>: 50149-001 Date: 17-Apr-12 Operator: YW/Wei Purpose: Split flowsheet -Repeat LCT-1, No Cu/Ni Separation Procedure: As below. Ni Scav Tail C K 80 : 83 µm Feed: 6 x 2-kg of -10 mesh Master Composite Ni Scav Tail D K 80 : 80 µm Grind: 69 minutes /2 kg at 65% solids in the lab ball mill Ni regrind K80: 29 µm Regrind 10 minutes in the pebble mill Conditions: Reagents added, grams per tonne Time, minutes Stage Lime SIPX CuSO4 CMC Guar MIBC* Grind Cond. Froth pH Eh Grind - - - - - - 69 Bulk Rougher 1 - 15 - - - 12 1 3 8.6 107.8 Bulk Rougher 2 - 20 - - - 6 1 3 8.6 76.4 Ni Scav 1 - 30 - - - 2 1 4 8.7 75.0 Ni Scav 2 - 30 - - - 2 1 4 8.7 30.0 Ni Scav 3 - 30 - - - 1 1 4 8.7 25.0 4037 Magnetic Separation on Ni Scav Tail Regrind Magnetic Concentrate 20 2 2 20 Rougher - Magnetic 20 2 2 1 3 Cleaner - Magnetic 2 Bulk Cleaner (Combine Ro Conc 1-2) SIPX Bulk 1st Cleaner 1 - - - 12 12 - 2 8.5 78.1 Bulk 1st Cleaner 2 - 10 - - - - 2 8.4 9.8 Bulk 2nd Cleaner 1 - - 7 7 - 2 8.4 44.0 Bulk 2nd Cleaner 2 - 5 - - - - 2 8.4 50.0 Ni Cleaner (Combine Scav Conc 1-3) CuSO4 Ni 1st Cleaner 1 - 20 15 15 - 1 3 8.7 85.0 1st cycle: 20 CMC / 20 Guar Ni 1st Cleaner 2 - 10 - - - - 1 3 8.7 55.0 - - - - Regrind (PM) - - - - - - 10 1st cycle: 20min Ni 2nd Cleaner - 40+20 100 5 5 - 1 2+2 8.1 150.0 1st cycle: 50 SIPX / 40 A4037 Ni 3rd Cleaner - 20+40 0+100 2 2 2 1 3+2 8.3 125.0 1st cycle: 20 SIPX / 50 CuSO4; 2nd cycle: 20 SIPX / 2 CMC / 2 Guar / 3min. Total 0 4247 100 45 45 25 99 10 37 *As needed Stage Rougher 2nd clnr 3rd clnr Flotation Cell 2000 g D-12 500 g D-12 250 g D-12 PSA On Ni Regrind Speed: r.p.m. 1500 1600 1200 PSA Tails E PSA Tails F
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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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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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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
Page 430 and 431: Test: LCT-3 Metallurgical Predictio
Page 432 and 433: Test: LCT-4 Project: 50149-001 Date
Page 434 and 435: Test: LCT-4 Overall Stability Total
Page 436 and 437: Test: LCT-5 Metallurgical Predictio
Page 438 and 439: Prophecy Platinum Corporation - Wel
Page 440 and 441: Prophecy Platinum Corp 50149-101 MI
Page 472 and 473: Mineral Abundance (wt.%) 100 90 80
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Prophecy Platinum Corp 50149-101 MI
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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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