NI 43-101 Preliminary Economic Assessment - Verde Potash

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Verde Potash Plc 10-5 Cerrado Verde Project NI 43-101 Preliminary Economic Assessment The drillhole name is present in the collar coordinate file, but is missing in the analytical database; The drillhole name is present in the analytical database, but is missing in the collar coordinate file; The drillhole name appears repeated in the analytical database and in the collar coordinate file; The drillhole name is not present in the collar coordinate file and in the analytical database; One or more coordinates notes are missing from the collar coordinate file; From or to are not present in database analysis; From > to in analytical database; Sampling intervals are not continuous in analytical database (there are breaks between the records); Sampling intervals are overlapping in the analytical database; The first sample does not correspond to 0 m in the database analysis; The azimuth is not in the range from 0 to 360 degrees; The dip angle is not in the range from 0 to 90 degrees; Azimuth or dip angle of the drillhole is missing; and The drillhole total depth is less than the depth of the last sample. The topography and cartography geological files in *.shp format were converted to the MICROMINE ® formats. Although the data do not provide a suitable structure, the validation results were satisfactory, being found only one error in the entire database. SRK Consulting (U.S.), Inc. September 16, 2011 Cerrado Verde_NI 43-101 PEA_343500.020_007_KG
Verde Potash Plc 11-1 Cerrado Verde Project NI 43-101 Preliminary Economic Assessment 11 Mineral Processing, Metallurgical Testing and Recovery Methods (Items 13 and 17) The Project's objective is to produce a thermo-fertilizer in the form of calcined potassium pellets, with diameters between 2 and 4mm, to be produced at Verde facilities, located at São Gotardo – MG. The primary feed material is a metasiltstone (Verdete) that typically contains 8 to 10% K 2 O The project base case is the production of 1.1Mt of thermo-fertilizer per year 8.34% K 2 O with an expected life of around 100 years at this level of production. The process approach is summarized in the conceptual flowsheet in Figure 11-1. Recovery is discussed in Section 13.1.6. 11.1 Summary of Proposed Process 11.1.1 Overview Verdete is mechanically extracted from the quarry is reclaimed by front loaders which load a 25- 50t truck fleet. Prior blasting is regarded to be unnecessary for the majority of the quarry extension, due to the friability of the ore. Fragments up to 500mm will be discharged into a 60m 3 capacity bin, and will be screened in a 75mm fixed grizzly. Oversized ore will be retained at this grizzly and then will be disaggregated through a jaw crusher. Material passing from the grizzly, finer than 75mm, along with the primary crusher product feed will be conveyed into the secondary crushing circuit. Material is fed to a 40m 3 bin which feeds a vibrating screen from which ore in the -75 to +16mm fraction will feed a secondary cone type crusher. The product from the crusher, with p 80 less than 20mm, is conveyed to a storage hall to be chevron stacked, in order to improve stockpile homogeneity. Finely crushed Verdete from the storage hall is reclaimed and fed to a dosing bin in the raw meal grinding department. Limestone, max 5% passing 1 inch, is received from an external quarry, and stacked in a conical pile with a volume of 1300m 2 . The material is transferred via truck loader to a hopper to a dosing bin in the raw meal grinding department. Both crushed Verdete and limestone are proportioned and fed to a vertical roller mill grinding circuit, nominal rate of 169t/h dry basis, comprising of a belt feeder, integrated dynamic separator, bag filter, bucket elevators for both internal circulation and final product transport. The installed power will be 1360kW.The raw meal produced in the grinding circuit is stocked in a storage silo, where the material will be homogenized pneumatically. Raw meal finely ground at 10%+170 mesh, along with recirculating off-spec fines generated in different steps of the process and agglomerator (necessary for the pelletizing step) will be fed to an 215 t/h continuous intensive vertical mixer (commercial reference adopted is RV24K Eirich). The blend will be fed via belt conveyors to pelletizing gate feeders to the pelletizing area, comprising of three 5.5m diameter disk pelletizer lines at a nominal dry basis rate of 72t/h each, where water is continuously injected (up to 18% humidity). After pelletizing, the green pellets are classified and off-spec pellets will be returned to the mixer. 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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