Resource Estimate
|
Wellgreen Project
|
|
Mineral Resources
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|
June 2017
|
|
|
Mineral Resources, US $13.85/tonne NSR Cut-off
|
|
Prices, US$
-----> |
$7.75
|
$3.00
|
$11.80
|
$1,350
|
$860
|
$1,400
|
|
Contained Metal
|
|
/lb
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/lb
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/lb
|
/oz
|
/oz
|
/oz
|
|
Ni
M Lbs
|
Cu
M Lbs
|
Co
M Lbs
|
Pt
K Ozs
|
Pd
K Ozs
|
Au
K Ozs
|
|
Class
|
Ktonnes
|
Ni %
|
Cu%
|
Co%
|
Pt g/t
|
Pd g/t
|
Au g/t
|
|
Measured
|
98,800
|
0.25
|
0.16
|
0.015
|
0.253
|
0.243
|
0.051
|
|
544
|
356
|
33
|
805
|
773
|
160
|
|
Indicated
|
263,200
|
0.26
|
0.13
|
0.015
|
0.223
|
0.244
|
0.036
|
|
1,531
|
733
|
88
|
1,887
|
2,067
|
308
|
|
Total M+I
|
362,000
|
0.26
|
0.14
|
0.015
|
0.231
|
0.244
|
0.040
|
|
2,075
|
1,089
|
121
|
2,692
|
2,840
|
468
|
|
Inferred
|
118,600
|
0.28
|
0.12
|
0.015
|
0.217
|
0.253
|
0.032
|
|
741
|
312
|
40
|
829
|
964
|
124
|
Notes
Average grade calculations on Table 1 are impacted by rounding.
Tonnages are reported in units of 1,000 metric tonnes (Ktonnes).
Contained Base Metal reported in units of 1,000,000 lbs (M Lbs).
Contained Precious Metal reported in units of 1,000 troy ounces (K Ozs).
Average Strip ratio: 2:22 to 1
Metal Prices for Resource Determination in US$
Nickel: $7.75/lb; Copper: $3.00/lb; Cobalt: $11.80/lb; Platinum: $1,350/troy oz; Palladium: $860/troy oz; Gold: $1,400/troy oz.
Mining and Processing Costs in US$
Exchange Rate: $1.00 CDN = $0.78 US
Mining costs, vary by bench, separately for ore and waste.
Average mining costs for ore and waste within the resource pit: $1.85/tonne of total material moved.
Processing plus General and Administration: $13.85/tonne Ore.
Process recoveries, to bulk concentrate, vary by rock type for all metals and head grade for copper and nickel.
The average calculated process recoveries for the metals in the mineral resource are:
Ni: 59.2%; Cu: 77.7%; Co: 60.9%; Pt: 53.3%; Pd: 60.4%; and Au: 78.3%
Smelting, refining, freight, and royalty costs vary by rock type and metal. The average of these calculated costs in US$ are:
Ni: $3.25/lb; Cu: $1.81/lb; Co: $7.71/lb; Pt: $692/troy oz; Pd: $441/troy oz; and Au: $1,342/troy oz
Overall slope angles vary from 38 to 42 degrees depending on the geotechnical domain