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

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Prophecy Platinum Corp 50149-101 MI7018-MAR12 High Definition Mineralogical Analysis using QEMSCAN (Quantitative Evaluation of Materials by Scanning Electron Microscopy) Pentlandite Association Mass (Pentlandite) 50.0 40.0 30.0 20.0 10.0 0.0 Bulk Cl. 1 Tail G Absolute Mass of Pentlandite Across Samples Pentlandite Association Cu Cl 1 Con G Cu Ro. Tail G Ni Cl. 1 Tail G Ni Cl. 3 Con G Ni Scav Tail G Complex 0.5 0.3 2.3 0.3 2.0 0.2 0.2 Pentlandite:Other 0.0 0.0 0.1 0.0 0.0 0.0 0.0 Pentlandite:Oxides 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Other Silicates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Talc:Chl/Serp 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Talc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Chl/Serp 0.2 0.0 0.2 0.1 0.1 0.0 0.0 Pentlandite:Pyx/Amph 0.0 0.0 0.1 0.0 0.0 0.0 0.0 Pentlandite:Cpy:Pn 0.0 0.2 0.3 0.0 0.5 0.0 0.0 Pentlandite:Chalcopyrite 0.0 0.3 0.1 0.0 0.3 0.0 0.0 Pentlandite:Pyrrhotite 0.3 0.2 2.1 0.3 2.4 0.0 0.1 Lib Pentlandite 0.5 0.3 4.6 0.1 2.7 0.0 0.0 Free Pentlandite 0.3 0.1 13.0 0.0 2.5 0.0 0.0 Pure Pentlandite 2.7 0.3 28.0 0.9 15.9 0.0 0.0 Ro Tails Mineral Name Bulk Cl. 1 Tail G Cu Cl 1 Con G Cu Ro. Tail G Ni Cl. 1 Tail G Ni Cl. 3 Con G Ni Scav Tail G Ro Tails Pure Pentlandite 2.7 0.3 28.0 0.9 15.9 0.0 0.0 Free Pentlandite 0.3 0.1 13.0 0.0 2.5 0.0 0.0 Lib Pentlandite 0.5 0.3 4.6 0.1 2.7 0.0 0.0 Pentlandite:Pyrrhotite 0.3 0.2 2.1 0.3 2.4 0.0 0.1 Pentlandite:Chalcopyrite 0.0 0.3 0.1 0.0 0.3 0.0 0.0 Pentlandite:Cpy:Pn 0.0 0.2 0.3 0.0 0.5 0.0 0.0 Pentlandite:Pyx/Amph 0.0 0.0 0.1 0.0 0.0 0.0 0.0 Pentlandite:Chl/Serp 0.2 0.0 0.2 0.1 0.1 0.0 0.0 Pentlandite:Talc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Talc:Chl/Serp 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Other Silicates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Oxides 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pentlandite:Other 0.0 0.0 0.1 0.0 0.0 0.0 0.0 Complex 0.5 0.3 2.3 0.3 2.0 0.2 0.2 Total 4.8 1.7 50.9 1.8 26.5 0.3 0.3 Page 6 of 21
Mass (% Pentlandite) 100 Normalized Mass of Pentlandite Across Samples 90 80 70 60 50 40 30 20 10 0 Bulk Cl. 1 Tail G Pentlandite Association Cu Cl 1 Con G Cu Ro. Tail G Ni Cl. 1 Tail G Ni Cl. 3 Con G Ni Scav Tail G Ro Tails Complex 10.4 15.9 4.6 18.5 7.5 57.1 73.7 Pentlandite:Other 0.0 0.0 0.2 0.1 0.1 0.0 0.1 Pentlandite:Oxides 0.2 0.7 0.1 0.4 0.2 0.2 0.2 Pentlandite:Other Silicates 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Pentlandite:Talc:Chl/Serp 3.4 0.0 0.1 1.6 0.1 0.9 0.6 Pentlandite:Talc 0.4 0.0 0.0 0.1 0.0 0.0 0.0 Pentlandite:Chl/Serp 4.8 0.3 0.3 5.8 0.5 7.6 4.9 Pentlandite:Pyx/Amph 0.5 0.0 0.1 0.8 0.1 1.1 0.7 Pentlandite:Cpy:Pn 0.3 12.0 0.6 0.1 1.9 0.0 0.0 Pentlandite:Chalcopyrite 0.1 19.8 0.3 0.0 1.2 0.0 0.0 Pentlandite:Pyrrhotite 5.7 9.2 4.1 14.8 9.2 12.4 15.4 Lib Pentlandite 11.1 15.2 9.1 6.8 10.1 2.8 1.1 Free Pentlandite 6.5 8.0 25.5 0.2 9.2 6.4 0.3 Pure Pentlandite 56.5 18.9 55.0 50.7 59.9 11.5 2.9 Mineral Name Bulk Cl. 1 Tail G Cu Cl 1 Con G Cu Ro. Tail G Ni Cl. 1 Tail G Ni Cl. 3 Con G Ni Scav Tail G Ro Tails Pure Pentlandite 56.5 18.9 55.0 50.7 59.9 11.5 2.9 Free Pentlandite 6.5 8.0 25.5 0.2 9.2 6.4 0.3 Lib Pentlandite 11.1 15.2 9.1 6.8 10.1 2.8 1.1 Pentlandite:Pyrrhotite 5.7 9.2 4.1 14.8 9.2 12.4 15.4 Pentlandite:Chalcopyrite 0.1 19.8 0.3 0.0 1.2 0.0 0.0 Pentlandite:Cpy:Pn 0.3 12.0 0.6 0.1 1.9 0.0 0.0 Pentlandite:Pyx/Amph 0.5 0.0 0.1 0.8 0.1 1.1 0.7 Pentlandite:Chl/Serp 4.8 0.3 0.3 5.8 0.5 7.6 4.9 Pentlandite:Talc 0.4 0.0 0.0 0.1 0.0 0.0 0.0 Pentlandite:Talc:Chl/Serp 3.4 0.0 0.1 1.6 0.1 0.9 0.6 Pentlandite:Other Silicates 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Pentlandite:Oxides 0.2 0.7 0.1 0.4 0.2 0.2 0.2 Pentlandite:Other 0.0 0.0 0.2 0.1 0.1 0.0 0.1 Complex 10.4 15.9 4.6 18.5 7.5 57.1 73.7 Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 Page 7 of 21
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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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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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
Page 424 and 425: Test: LCT-1 Project: 50149-001 Date
Page 426 and 427: Test: LCT-1 Overall Stability Total
Page 428 and 429: Test: LCT-2 Metallurgical Predictio
Page 432 and 433: Test: LCT-4 Project: 50149-001 Date
Page 434 and 435: Test: LCT-4 Overall Stability Total
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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Page 492 and 493: CAVM-50149-101 MI7018-MAR12 Sample
Page 494 and 495: CAVM-50149-101 MI7018-MAR12 Sample
Page 496 and 497: erra Mineralogical Services Inc. Mi
Page 498 and 499: TerraMS-12JUL-001 Wellgreen - Pt-Pd
Page 514 and 515: APPENDIX D M INING
Page 516 and 517: LG Phase Revenue Factor (%) Mineral
Page 518 and 519: Figure 3 Overall Ultimate Pit Produ
Page 520 and 521: Table 3 Penetration and Drilling Ra
Page 522 and 523: HAULAGE General Hauling Conditions
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Year Mechanical Availability (%) Us
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