NI 43-101 Preliminary Economic Assessment - Verde Potash

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Verde Potash Plc 12-9 Cerrado Verde Project NI 43-101 Preliminary Economic Assessment that the optimal composed sample size was 1m. After that a statistical analysis was performed again for the samples grouped into 1m (composite). The results of the statistical analysis are shown in Table 12.2.1.1 to 12.2.1.5. Determine a cutoff grade for interpretation was not the purpose of this statistical analysis. Table 12.2.1.1: Descriptive Statistics Data for K 2 O of Target 4 Samples Quantity Minimum Maximum Mean Median Variance Standard Deviation Element All samples K 2 O 187 0.94 11.2 8.44 9.10 3.82 1.95 Samples inside the mineralized bodies K 2 O 153 5.27 11.20 9.13 9.47 1.33 1.15 Samples composited inside the mineralized bodies K 2 O 153 5.27 11.20 9.13 9.47 1.33 1.15 Table 12.2.1.2: Descriptive Statistics Data for K 2 O of the Target Samples Quantity Minimum Maximum Mean Median Variance Standard Deviation Element All samples K 2 O 1023 2.67 11.40 7.12 7.18 4.46 2.11 Samples inside the mineralized bodies K 2 O 720 4.11 11.40 8.14 8.12 2.54 1.59 Samples composited inside the mineralized bodies K 2 O 808 4.11 11.40 8.22 8.15 2.53 1.59 Table 12.2.1.3: Descriptive Statistics Data for K 2 O of the Target 7 Samples Quantity Minimum Maximum Mean Median Variance Standard Deviation Element All samples K 2 O 1765 1.03 11.80 8.72 9.05 4.35 2.08 Samples inside the mineralized bodies K 2 O 1501 1.03 11.80 9.30 9.53 2.57 1.60 Samples composited inside the mineralized bodies K 2 O 1547 1.03 11.80 9.29 9.52 2.56 1.60 Table 12.2.1.4: Descriptive Statistics Data for K 2 O of the Target 10 Samples Quantity Minimum Maximum Mean Median Variance Standard Deviation Element All samples K 2 O 95 4.30 11.60 9.58 10.60 3.99 2.00 Samples inside the mineralized bodies K 2 O 93 4.30 11.60 9.65 10.60 3.86 1.97 Samples composited inside the mineralized bodies K 2 O 107 4.30 11.60 9.76 10.76 3.57 1.89 SRK Consulting (U.S.), Inc. September 16, 2011 Cerrado Verde_NI 43-101 PEA_343500.020_007_KG
Verde Potash Plc 12-10 Cerrado Verde Project NI 43-101 Preliminary Economic Assessment Table 12.2.1.5: Descriptive Statistics Data for K2O of the Target 11 Samples Quantity Minimum Maximum Mean Median Variance Standard Deviation Element All samples K 2 O 174 3.77 11.40 7.68 7.59 3.27 1.81 Samples inside the mineralized bodies K 2 O 124 5.35 11.40 8.46 8.21 1.96 1.40 Samples composited inside the mineralized bodies K 2 O 124 5.35 11.40 8.46 8.21 1.96 1.40 12.2.2 Interpretation In the mineralized domains interpretation were used the drillhole data and the geologic mapping data. The drillhole grid in the area is characterized by irregularities. In the deposit interpretation was used the Top and Base Grid method. The Kriging method was chosen for the Grid interpolation for the Target 6; and IDW with power 2 was chosen for the others areas. The modeled semi-variograms for the body top and base are represented in the Figures 12-15 and 12- 16. Then the Grids were transformed in Digital Terrain Model (DTM). This method was chosen because the body is sub-horizontal, Figure 12-19. Interpreting the geologic limits of the mineralized bodies the interpretation was performed on the half of the distance of the exploration grid of each area keeping the mineralized body thickness. In the mineralized bodies interpretation the following conditions were used: The interpretation was performed to the K 2 O; Some low grades were selectively included in the mineralization, when the grade data logically were part of the mineralization body; The interpretation was performed up to the half of the distance of the exploration grid. For the Target 6 and Target 7 the mineralized body was divided in two areas: oxidized and fresh. In the data interpreting the geological description of the holes were used for the construction of the grid. Similar interpolation parameters to those used in the construction of top and bottom of the mineralization areas were used. 12.2.3 Triangulation The *.shp data files (that represent the topographic surface SRTM of the deposit area with 5m contours) were used in the construction of the topographic digital terrain model (DTM). The file was imported to the Micromine system, interconnected and then, using the obtained contours, the topographic surface was constructed. To build the mineralization body solid were used Boolean operations. At the beginning was built a solid (“box”) inside the mapped geologic limits of the mineralization zone. Then, this box was cut by base and top surfaces and by the topographic surface. As result, we get the exact solid of the mineralization body. 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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