While closing out a few research windows i came across a drill image
that clearly defines the wellgreen zone -
circled in pink. https://image.slidesharecdn.com/prophecyplatinumpresentation-120206130514-phpapp02/75/prophecy-platinum-presentation-19-2048.jpg?cb=1671716840 Which sparked the thought, what about the - 1989 PFS ?
Retrospectively throughout my research, i've been trying to trackdown the infamous - 1989 PFS - report.
Continually using
Robert Frieland's Galactic Resource name.
Today, i decided to research the name...,
All North. Galactic and All North merged..
VOILA....!
https://emrlibrary.gov.yk.ca/minerals/MajorMines/wellgreen/preliminary_feasibility_study_all_north_1989.pdf They assembled a resource (
labelled it reserve )
46,655,677 million tonnes 0.34% - Nickel grades
0.31% - Copper grades
0.51 g - platinum ( 0.165 oz )
0.34 g - palladium ( 0.11 oz )
Did you know there's silver in the wellgreen ? Yup. ( 1 oz silver per each con tonne created ) ( circa - 1989 )
More nickel and cobalt in the sulphide and pyrites.
But... extraction circuits
reject this ???
https://live.staticflickr.com/65535/53275237151_7c4df4fe9e_c.jpg NOTE - 1989 / PFS - modelled the Wellgreen with a
40% BULK concentrate / matte Why is the 1989 PFS important to review ? - establishes what grade, ore characterization, recoveries, size of tonnage
- allows a comparison of former to present.
Approx 9 yr LOM open pit
Far West deposit + East deposit ( wellgreen )
No silicate / perirotite / No ores from indide mine
An additional extra 10 yrs of inside mine ore same grade as ( 9 yr pit )
That would place it in the range of - 19 yrs.
Iron percentage = 36%
Very selective in choosing Gabbro's.
High strip ratio ?
What could they be excluding ?
= Silicates !!!!
They admitted the silicates were mineralized.
But were not interested.
Side Note -
Few days ago, i came across a paper stating,
Nickel in silicates are nondetectable.
What would 1989 pfs statistics have to do with our present day pfs ?
It just might involve....
2015 PEA = 330 million tonnes @ Wellgreen.
Wellgreen Platinum ran a similar mine model.
Open pit + Underground.
Galactic / All North's - 1989 - resource size - 46 million tonnes
Swelled to
Wellgreen Platinum - 2015 - resource size - 330 million tonnes
Same zone, Wellgreen.
What would contribute to the near 300 million tonne increase ?
= Silicate minerals.
= The ores Galactic new were mineralized but did not measure.
Wellgreen Platinum
was smart including the silicates.
Increases the resource exponetially, but requires diff extraction.
Do other miners world wide mine minerals in silicates ?
They certainly do.
2015 / 2016
Wellgreen Platinum in 2015 pressed their maiden resource.
They also sparked a new drill program, at Wellgreen.
2016 - New management / restructure
New management also performed drilling.
Where did new management point their drill compass ?
Where did former Wellgreen platinum plant their drills ?
In this press from 2016 under new management,
we can now see the two drill campaigns outlined.
if i had to guess... i'd say new owners were not wanting silicate minerals
and drilled far westerly looking for the gabbros.
Drill points in black, highly probable = Wellgreen Platinum, former owner 2015.
Image -
https://s21.q4cdn.com/491660439/files/doc_news/2016-0422-nr-drillholes-aerial-planview-1024x689.jpg
2016 Press
https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2016/Wellgreen-Platinum-Announces-2015-Drill-Results-at-the-Wellgreen-PGM-Nickel-Project/default.aspx
Moving forward 2017
A sudden geological ore name change.
And they were 100% correct.
Wellgreen seen a near, 300 million ore tonne increase - silicates.
Did Wellgreen test these additional ores - relogging ?
YES.
The Mineral Resource Estimate was derived from 776 drill holes totaling 69,898 metres which have tested approximately 2.5 kilometres of an 18 kilometre long system.
The estimate consists of 330 million tonnes at 1.67 g/t Pt Eq. or 0.44% Ni Eq.
https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2015/Wellgreen-Platinum-Announces-Positive-Preliminary-Economic-Assessment-Update-on-its-Wellgreen-PGM-Nickel-Project/default.aspx
So why are the 2023 metal payables so pitiful ?
1 - reclassing ore geology ( catering to specific ore )
2 - practical entitlement ( can't handle silicates )
3 - 2nd phase took the bulk and created separate Ni con + Cu con
4 - strayed from bulk con - yet... bulk captures more minerals
5 - practical entitlement nearly nullifies the 300 million tonnes silicates
With over 2.4 billion pounds of nickel, 1.2 billion pounds of copper, 6.9 million ounces of PGMs and 137 million pounds of cobalt in the measured and indicated mineral resource categories, Nickel Shw is one of the largest undeveloped nickel projects in North America not controlled by a major mining company.
- 614.3M lbs nickel;
- 281.5M lbs copper;
- 21.5 M lbs cobalt;
- 626,500 troy ounces platinum;
- 743,400 troy ounces palladium; and
- 174,400 troy ounces gold.
https://ceo.ca/@newswire/nickel-creek-platinum-announces-positive-pfs-for-its
Why were 1989 + 2015 recoveries far better ?
- Each aligned their extraction to = Bulk Concentrates
- High recoveries
2017 -
What could save the near 300 mil tonne mineralized silicates ?
Why.... it's this statement from phase 1
The Company is very pleased to announce that the Phase 1 Metallurgical Program has succeeded in achieving all its objectives, including production of a quality, marketable
bulk Ni-Cu-PGM concentrate at 11.9% Ni-Cu grade for the Peridotite domain
and at 14.3% Ni-Cu grade for the Clinopyroxenite domain,
in comparison to 10% Ni-Cu grade reported in the 2015 PEA1
https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2017/Wellgreen-Platinum-Announces-Results-of-Metallurgical-Testwork/default.aspx
Phase 1
Succeeded and even increased recoveries.
Bulk Concentrate.
Same extraction company.
No issues with, Peridotite, Clinopyroxenite.
What was the majority of ore recharacterized as ?
Peridotite.
Phase 1 - no issues with peridotite, nor clinopyroxenite.
In fact, what were the NEW recoveris compared to 2015 ?
- Quantitative declaration of what the flowsheet will produce (grades and recoveries) for the major geometallurgical, domains Peridotite and Clinopyroxenite.
- Produced copper recoveries for both Peridotite and Clinopyroxenite that exceeded the projections of the 2015 PEA (73% vs. 66%2, and 93% vs. 88%3, respectively).
- Produced gold and PGM recoveries that exceeded the projections of the 2015 PEA.
- Produced nickel recoveries for Peridotite and Clinopyroxenite that are lower than those projected in the 2015 PEA (59% vs 68%4 and 71% vs 75%5, respectively).
If new phase 1 bulk extraction was an approvement,
then i have to assume the higher numeric recovery is
from the new phase 1 study....right ?
Thus, the compass points to,
phase 2 could be where the issue is, lessor recoveries.
Yet... wasn't phase 2 closed circuit - no mineral loss - just directs
to different concentrate dept ?
We might gain more insight into phase 2 with this statement...
Established predictive concentrate grade / recovery relationships and demonstrated Cu-Ni separability from bulk concentrate.
2023 PFS
should have phase 1 bulk con applied to Wellgreen's 2.5 km
And given the amount of drills sunk ( historically ) and all recent....
Western zone should also have a measured resource.
But... it doesn't.
WELLGREEN
436,000,000 million tonnes
x
marketable bulk Ni-Cu-PGM concentrate
11.9% Ni-Cu grade for the Peridotite domain
14.3% Ni-Cu grade for the Clinopyroxenite domain
plus ( gold, silver, cobalt, pt, pd, exotics )
plus iron credit
plus magnesium credit
and not to overlook the 800 chip samples inside mine 2m spacing
https://image.slidesharecdn.com/prophecyplatinumpresentation-120206130514-phpapp02/75/prophecy-platinum-presentation-28-2048.jpg?cb=1671716840
= how much are we worth ?
What's Wellgreen's High grade zones look like ?
https://image.slidesharecdn.com/prophecyplatinumpresentation-120206130514-phpapp02/75/prophecy-platinum-presentation-14-2048.jpg?cb=1671716840
Not investment advice.
Just how i seen the timeline of, events.
I could be wrong, but then again, i could be bang on.
Cheers....