The 100% owned Wellgreen project hosts a large PGM-Ni-Cu deposit located just off the Alaska Highway in the southwest of Canada’s mining-friendly Yukon Territory. The property features excellent access and transportation infrastructure and the deposit is just 14 kilometres by all-weather road from the paved Alaska Highway, a major all-season trucking route leading to deep sea ports at Haines and Skagway, Alaska. Ranked in the top 20 mining jurisdictions globally in the 2013/2014 Fraser Institute Survey of Mining Companies, the Yukon has a rich mining heritage that dates back to the Klondike gold rush of the late 1800s.
Wellgreen Platinum is focused on the advancement of the Wellgreen project toward production, with current efforts underway designed to further define the mineral resource, evaluate overall project economics, simplify project financing requirements and complete environmental permit applications.
- Estimated production in concentrate of 7M oz PGM+ gold, 2B lbs. nickel and 2B lbs. copper1
- Executive management team with track record of success in large scale project development, operations and financing; specific PGM, Yukon and Sudbury District experience
- Ongoing PGM supply risk as approximately 80% of production is from politically unstable jurisdictions
- PGM demand has grown at 4-5% per year for the last 30 years and is expected to continue due to global growth and rising catalytic converter use in China
- Yukon is a stable, mining-friendly jurisdiction ranked in the top 20 globally by the Fraser Institute
- 14km all season road to paved Alaska Highway leading to Haines & Skagway sea ports
1These estimated metal production numbers are from the 2012 Wellgreen PEA, the full text of which is available here and under the Company’s SEDAR profile at www.sedar.com. The 2012 Wellgreen PEA is preliminary in nature and it includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the 2012 Wellgreen PEA will be realized. A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. Mineral resources that are not mineral reserves do not have demonstrated economic viability. A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a prefeasibility study. The mineralization at Wellgreen includes the platinum group metals (PGMs) platinum, palladium, rhodium and other rare PGM metals along with gold, nickel, copper and cobalt. At recent metal prices using anticipated metallurgical recoveries and proportionally allocated costs for each of the metals, the net economic contribution is anticipated to be largest for platinum, palladium and gold (3E elements), followed by nickel and then by copper and cobalt. These values may be different than gross in-situ metal values which do not factor in the costs for mining, processing, recovery, transportation, smelting or refining costs.
The Company has conducted a thorough technical review of the Wellgreen project, including a comprehensive assessment of exploration results back to the 1950’s. With the historic focus on high grade massive sulphide occurrences amenable to narrow seem underground mining many of the historic drill holes were only selectively assayed for high grade mineralization. With a focus on the bulk mining potential of the deposit the Company has re-logged and completed continuous assays where possible sampling all of the material within the mineralized ultramafic host rocks.
On July 17, 2013, the Company announced the commencement of the 2013 exploration field program. Metallurgical test work and engineering initiatives had also commenced at that time. Comprehensive re-logging and cataloging as well as re-sampling of historic drill holes has now been completed and is being integrated and interpreted. The total re-logging and re-testing program completed to date is 18, 377m.
Environment & Permitting
Baseline environmental studies continue on the Wellgreen Project, including collection of meteorological data, surface water quality and flow data, ground water quality and flow data as well as wildlife and vegetation studies. These baseline studies are being conducted in collaboration with the Kluane First Nation as part of the exploration cooperation and benefits agreement announced by the Company on August 2, 2012. The Company targets initiating the environmental assessment process in 2015. The Yukon and Federal Government guidelines suggest 18-24 months as a guideline to review mine permit applications. The review consists of discussing the baseline data, assessing the project/operation influence on the environmental baseline and evaluating the mitigation processes proposed by the Company to minimize the influence of the project and operations as part of the overall mining permit application. The environmental assessment process at Wellgreen should be facilitated due to the project being a former operating mine in an area with historic and current placer mining and with the support of the Kluane First Nation. Wellgreen Platinum will continue to pursue First Nations engagement and seek ways to facilitate local economic and business development opportunities through the various stages of project implementation and operations.
Qualified Person under Ni 43-101
The Wellgreen Project scientific and technical information is supervised and reviewed by Neil Froc, P. Eng., the Company’s Wellgreen Project Manager, a “Qualified Person” as defined in NI 43-101 and the person who oversees exploration activities on the Wellgreen Project. In addition, John Sagman, P.Eng., Wellgreen Platinum’s Senior Vice President and Chief Operating Officer and a “Qualified Person” as defined in NI 43-101 has reviewed and approved the scientific and technical information contained in our website.