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

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Table 13.7 Concentrate Quality (G&T – May 2011) Element Assay Units Test 6 Concentrate Antimony Sb % 0.011 Arsenic As ppm 71 Bismuth Bi ppm
13.3 SGS V ANCOUVER – J UNE 2012 A new test program was started at SGS in October 2011. The sample was delivered to SGS by Prophecy Platinum. Tetra Tech did not supervise any of the test work involved in the program. The results from the final report from SGS were used for the predicted bulk concentrate grades and recoveries. The report is provided in Appendix C. 13.3.1 LOCKED CYCLE TEST WORK Several batch tests were completed to develop the parameters for the locked cycle tests (LCTs). Table 13.8 summarizes the LCTs performed in the SGS study. A calculated head feed grade of 0.45% nickel, 0.35% copper, 0.42 g/t platinum, and 0.46 g/t palladium was tested. Conventional flotation conditions were used to produce a concentrate with emphasis on base metal recoveries from locked cycle testing (LCT-1 to LCT-3). While this preliminary phase focused on metal recovery from Wellgreen’s mineralization of typical representative grade, an additional test (LCT-4) was conducted using material with a higher calculated head feed grade of 0.83% nickel, 0.55% copper, 0.57 g/t platinum, 0.57 g/t palladium, and 0.08 g/t gold. Table 13.8 SGS – LCT Concentrate Grades and Recoveries Ni (%) Cu (%) Concentrate Grade Concentrate Recovery Co (%) Pt (g/t) Pd (g/t) Au (g/t) Prophecy Platinum Corp. 13-9 1193460500-REP-R0001-02 Wellgreen Project Preliminary Economic Assessment, Yukon, Canada Ni (%) Cu (%) Co (%) Pt (%) Pd (%) Au (%) LCT-1 8.9 8.9 0.5 3.1 7.8 0.6 63.3 86.9 60.3 24.6 62.1 48.1 LCT-2 7.1 7.0 N/A 2.4 6.8 0.5 63.4 84.9 N/A 26.4 64.4 62.9 LCT-3 5.7 6.0 N/A 3.6 6.2 0.5 67.6 87.8 N/A 46.0 72.9 58.9 LCT-4 8.2 6.5 N/A 2.9 5.6 0.6 72.9 88.0 N/A 37.7 72.6 62.2 LCT-1 was an LCT which featured separate copper and nickel concentrates to try and achieve the maximum recovery of each metal. This is preliminary work carried out with respect to creating separate copper and nickel concentrates. More work should be carried out in the future to determine the PGE recoveries for each concentrate. LCT-2 was a bulk concentrate LCT. LCT-3 was a repeat of LCT-1 but the concentrates were not split out. LCT-4 was a split concentrate LCT run on a higher nickel grade composite. LCT-3 was chosen as the most representative test and has been used for the design and predicted concentrate grades and recoveries in this study. There were no cobalt analyses for this test so the cobalt recovery was
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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
Page 41 and 42: All work undertaken on the surface
Page 43 and 44: Figure 4.3 Wellgreen Surface Lease
Page 45 and 46: Other than those liabilities set fo
Page 47 and 48: 5.3 C LIMATE The climate is alpine,
Page 49 and 50: Year Company Activities 1970 Hudson
Page 51 and 52: Year Company Activities 2008 Corona
Page 53 and 54: 6.2.3 NORTHERN P LATINUM 2009 PROGR
Page 55 and 56: Figure 7.1 Regional Geology Map Pro
Page 57 and 58: Figure 7.3 Property Geology Prophec
Page 59 and 60: Longitudinal faults and/or shears a
Page 61 and 62: Figure 7.4 Wellgreen Plan View Prop
Page 63 and 64: 7.2.3 NORTH ZONE The North Zone is
Page 65 and 66: Table 7.3 PGE-Bearing Minerals in t
Page 67 and 68: Gabbroid-associated Nickel, Copper,
Page 69 and 70: 10.0 DRILLING 10.1 H ISTORICAL D RI
Page 71 and 72: Figure 10.1 Prophecy Platinum Drill
Page 73 and 74: Table 10.4 Prophecy Platinum 2011 D
Page 75 and 76: • The course rejects returned fro
Page 77 and 78: Figure 10.4 Core Storage Facility P
Page 79 and 80: 11.0 SAMPLE PREPARATION, ANALYSES,
Page 81 and 82: 12.0 DATA VERIFICATION Tetra Tech
Page 83 and 84: Table 12.2 Check Assays Prophecy Pl
Page 85 and 86: 13.0 MINERAL PROCESSING AND METALLU
Page 87 and 88: An elemental analysis of typical co
Page 89 and 90: Minerals Peridotite Composite 1 Min
Page 91: Ni Deposits” shows that the grade
Page 95 and 96: 14.0 MINERAL RESOURCE ESTIMATES 14.
Page 97 and 98: Table 14.3 summarizes the grade cap
Page 99 and 100: The NiEq value was assigned to all
Page 101 and 102: Table 14.7 Wellgreen Variogram Summ
Page 103 and 104: Table 14.9 Estimation Criteria Zone
Page 105 and 106: Table 14.10 Search Parameters Zone
Page 107 and 108: NiEq Cut-off Tonnes NiEq (%) Ni (%)
Page 109 and 110: Figure 14.2 Wellgreen Platinum, Pal
Page 111 and 112: Figure 14.4 Wellgreen Platinum, Pal
Page 113 and 114: Figure 14.6 Wellgreen Pit Resource
Page 115 and 116: 14.1.9 VALIDATION The Wellgreen mod
Page 117 and 118: Figure 14.9 East Zone Cross Section
Page 119 and 120: Figure 14.10 Wellgreen Nickel Secti
Page 121 and 122: Figure 14.14 Wellgreen Platinum Sec
Page 123 and 124: Figure 14.18 Wellgreen Cobalt Eleva
Page 125 and 126: 14.2 P REVIOUS E STIMATES Table 14.
Page 127 and 128: 15.0 MINERAL RESERVE ESTIMATES A mi
Page 129 and 130: The selected base case pit contains
Page 131 and 132: OVERALL O PEN P IT SLOPE ANGLE Tetr
Page 133 and 134: Table 16.4 Pit Optimization Results
Page 135 and 136: The pit optimization process includ
Page 137 and 138: 16.4 P RODUCTION S CHDULE Using Pit
Page 139 and 140: Year Waste (t) Total (t) Strip Rati
Page 141 and 142: 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
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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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