NI 43-101 Preliminary Economic Assessment - Verde Potash

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Verde Potash Plc 5-2 Cerrado Verde Project NI 43-101 Preliminary Economic Assessment dip NNW. The strike of the foliation is NNE. The second phase formed folds with nearly vertical axial planes and sub-horizontal folding axis. In a regional scale, the folded Verdete and the transition zone display a sub-horizontal behavior. The largest extension of the Verdete unit occurs where the erosion has been less intense, and is marked by the presence of remnants of the Areado Group sandstones. This occurs mainly in the central part of the unit. 5.2.3 Elevation and Erosion Level The peneplane developed by the Verdete unit, i.e., the ground over which the Areado Group was deposited, undulates between the elevation of 1,000m and 850m. Higher elevations are found in the southern part of the Serra da Saudade. In the middle portion of the ridge, the peneplane is placed between 880m and 920m. Therefore, all the surface exposures of the Verdete unit were the result of the Tertiary erosion cycles that stripped off the Mesozoic rocks (Mata da Corda and Areado groups). 5.3 Mineralization Verdete is the rock-type with high content of K 2 O. It is pelitic sediment, metamorphosed in the greenschist facies. It displays a lepidoblastic texture and preserves relicts of the original fabric. Petrographically, it is classified as a metasiltstone, and has a green color due to chlorite. The chlorite was formed by the intense alteration of biotite. Biotite can still be observed locally in small plates forming massive aggregates. It also occurs in the cores of muscovite. The Verdete shows millimetric to centimetric bands rich in chlorite, interbedded with quartz-rich layers. A sample of Verdete containing 10.7% K 2 O showed the following modal composition: quartz (10%), microcline (20%), biotite-chlorite (60%) and muscovite (10%). Samples submitted for X-ray diffraction showed the following minerals: quartz, muscovite-fengite, microclineorthoclase and clinochlore (magnesium chlorite). The K 2 O content ranging from 5-6% to 13% is due to the presence of microcline-orthoclase and muscovite-fengite. This PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the preliminary assessment will be realized. 5.3.1 Mineralized Zones As stated previously, potash mineralization occurs associated with the microcline-orthoclase and muscovite-fengite minerals that are constituents of the Verdete. The Verdete held within the Verde tenements can be traced for the entire 120km strike length with a potential width up to 500m wide. Grab samples along the entire strike length range from 5% to 12% K 2 O. SRK Consulting (U.S.), Inc. September 16, 2011 Cerrado Verde_NI 43-101 PEA_343500.020_007_KG
Verde Potash Plc 5-3 Cerrado Verde Project NI 43-101 Preliminary Economic Assessment 5.3.2 Surrounding Rock Types The Verdete unit is partially covered by a thin layer of sandstone of Cretaceous age in its central part. To the east it is intercalated with red to yellow metapelites (argillites, rhythmites and siltstones), which forms the transition zone. The transition zone is the basal part of the Verdete unit and crops out by a combination of folding and erosion. To the west the Verdete is eroded by a N-S running creek which exposes the underlying carbonatic slate. To the north the Verdete unit is again intercalated with metapelites. To the south the Verdete is abruptly eroded, occurring only as the metapelites and slates. SRK Consulting (U.S.), Inc. September 16, 2011 Cerrado Verde_NI 43-101 PEA_343500.020_007_KG
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NI 43-101 Preliminary Economic Assessment - Verde Potash

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