Here's a piece by Northern miner speaking about, Wellgreen's resource size. The open-pit project could produce 614.3 million lb. nickel and 281.5 million lb. copper over a 19.1-year life, according to the report released on Thursday. https://www.canadianminingjournal.com/news/nickel-creek-platinum-shares-drop-as-prefeasibility-puts-shaw-project-capex-at-1-7b/
Here are my calculations Billion pounds
M + I 436,695,000 t
| | | Ni 2.47 bil lbs, | Cu 1.28 bil lbs | Co 137 mil lbs | Pd 3,29 mil oz | Pt 3,14 mil oz | Au 545 k oz | |
| M+I | 436,695,000 t | Ni .26% | Cu % .13 % | Co .014g | Pl .23g | Pt .22g | Au.04g | Mg 16.92% | S .68% |
https://ceo.ca/@newswire/nickel-creek-platinum-announces-positive-pfs-for-its
Imagine the PFS including several other minerals and iron ?
( my opinion ) CNC's iron credit pushed CNC's project into
a Billion dollar net - valuation.
NCP should ( ditch the engineering firm ) and do the same.
Include ( iron )
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Speaking of iron....
I found this.... magnetics in the periodite.
Which suggests, irons do exist in the Serp's.
Which places into context... NCP's geology could host sizable iron tonnage.
Prophecy and Pacific Coast Nickel were at one time both working the Wellgreen ( shaw claims ) A Fugro helicopter-borne Mag and EM survey conducted in 2008 demonstrated that the magnetic signature of the peridotite extends approximately 6 km on Prophecy's ground.
https://www.bloomberg.com/press-releases/2011-06-02/prophecy-and-pacific-coast-nickel-commence-8-000-meter-drilling
Interesting Historical Intel
Wellgreen was discovered in 1952 and optioned to Hudson Bay Mining and Smelting Ltd. (now Hudbay Minerals Inc.). Over a 20 year period,Hudbay sank 4 shafts and developed over 4 km of underground workings. -- A total of 701 holes (182 surface, 519 underground) totalling 53,222 meters (28,303 meters surface, 24,919 meters underground) were historically drilled by the following mining and exploration companies: Hudbay, Chevron, All North, Galactic, Archer Cathro, Coronation, and Northern Platinum. -- A historic, non-NI 43-101 compliant geological resource (1989) estimated at 55 million tonnes grading 0.35% copper, 0.36% nickel, and 0.78 g/t PGM. -- Prophecy holds 91 claims in two groups under renewable 21-year mining leases totaling approximately 22.1 square km. -- A shear zone was discovered in 2005 with rock samples yielding up to 70.1 g/t Palladium, and 77.3 g/t Platinum and 1.37 g/t Rhodium ($2,240/oz) over a 3km strike.
https://www.bloomberg.com/press-releases/2011-06-02/prophecy-and-pacific-coast-nickel-commence-8-000-meter-drilling
Check this out.... ( must read historical with visual data )
Prophecy digitized the historical drill locations and grades...
This is the type of information that reveals how the continuity of
deposit looks below grade.
Prophecy Resource (TSXV:PCY) and Pacific Coast Nickel (TSXV:NKL)
Begin 8,000-Meter Drilling Program Wellgreen Project
Company Press Release, June 2, 2011
For the complete company statement, please visit:
https://www.prophecycoal.com/news_2011_jun02_Prophecy_Commence_8000_Wellg...
Link above, takes one to an older prophecy website.
Thing is ?
Once link is opened in new window it will disappear.
Happened 4 times.
So.... for my owm referrences, i will copy paste the incredible data
in this post ( for my own reference ) i don't want to lose the intel.
Like what i see.
Eastern side has seen extrnsive drilling.
Not as diseminated as what i thought.
Actually pretty decent.
Gotta love the aforementioned 3km shearzone.
Massive Platinum + Palladium and Rhodium.
I'd be focusing on those amazing findings.
Prophecy and Pacific Coast Nickel Commence 8,000 Meter Drilling Program on its PGM-Ni-Cu Wellgreen Project
Vancouver, British Columbia, June 2, 2011: Prophecy Resource Corp. (“Prophecy”) (TSX-V:PCY, OTC-QX: PRPCF, Frankfurt: 1P2) and Pacific Coast Nickel Corp. ("PCNC") (TSX-V: NKL, US-PINK: PNIKF, Frankfurt: P94) (the "Companies") are pleased to announce the commencement of an expansion drilling program on its Wellgreen PGM Ni-Cu Project, located in the Yukon Territory, Canada. The program has been commenced by Prophecy and will be completed by PCNC following the completion of the arrangement transaction ("Arrangement") whereby PCNC will acquire the Lynn Lake and Wellgreen properties from Prophecy.
The program will comprise of 8,000 meters of solid-core diamond drilling from May to September with up to 3 drills to test minimum 17 infill and exploration targets. This phase of drilling is designed to augment the existing resource which is currently being updated to National Instrument 43-101 compliant standards by Wardrop Engineering ("Wardrop"), a Tetra-tech Company. The resource estimate (based on 701 drillings before 2011) is expected to be released in July of this year. The 2011 drilling is aimed to further augment the resource estimate.
In 1972, Hudbay Minerals Inc. milled 171,652 tons grading 2.23% Copper and 1.39% Nickel on the Wellgreen mine. The mine then ceased operations due to low nickel prices, geological complexity, and poor ground conditions. Drillings by several past operators have verified the presence of significant amount of lower grade nickel-copper and PGM-bearing mineralization highlighted by intercepts of 496.1 meters of 0.596 g/t PGM+Au, 0.27% nickel, 0.18% copper and 0.02% cobalt (refer to September 27, 2010 press release). The grades and type of disseminated mineralization at Wellgreen are highly analogous to those observed in Minnesota's Duluth Complex.
The Prophecy 2011 program will consist of a series of step-back and infill holes targeting the bulk disseminated sulphide zones that stratigraphically overlie the known massive sulphide zones stretching over 2.2 km.
Step-outs to the east will examine the potential of Wellgreen where aeromagnetic data and mapping indicate a continuation of the mineralized host-pluton, the Quill Creek mafic-ultramafic intrusion, which extends for at least 2.3 km in that direction, and has undergone minimal prior drilling.
Overview of Wellgreen:
- Wellgreen is part of Kluane Ultramafic Nickel belt, which is the second largest behind the Thompson Belt in Canada and remains vastly unexplored.
- Wellgreen was discovered in 1952 and optioned to Hudson Bay Mining and Smelting Ltd. (now Hudbay Minerals Inc.). Over a 20 year period, Hudbay sank 4 shafts and developed over 4 km of underground workings.
- A total of 701 holes (182 surface, 519 underground) totalling 53,222 meters (28,303 meters surface, 24,919 meters underground) were historically drilled by the following mining and exploration companies: Hudbay, Chevron, All North, Galactic, Archer Cathro, Coronation, and Northern Platinum.
- A historic, non-NI 43-101 compliant geological resource (1989) estimated at 55 million tonnes grading 0.35% copper, 0.36% nickel, and 0.78 g/t PGM.
- Prophecy holds 91 claims in two groups under renewable 21-year mining leases totaling approximately 22.1 square km.
- A shear zone was discovered in 2005 with rock samples yielding up to 70.1 g/t Palladium, and 77.3 g/t Platinum and 1.37 g/t Rhodium over a 3 km strike.
- A Fugro helicopter-borne Mag and EM survey conducted in 2008 demonstrated that the magnetic signature of the peridotite extends approximately 6 km on Prophecy’s ground.
- Past exploration and production focused on high-grade underground massive sulphide.
- Prophecy is re-examining the surveys, geology, past drill cores, and economics of Wellgreen for a disseminated sulphide open pit scenario.
In July 2010, a NI 43-101 report (available on sedar) on the Wellgreen property from Wardrop stated “The potential within the Quill Creek Ultramafic intrusion on the Wellgreen property is in the range of 77 to 254 million tonnes at 0.26 to 0.38% nickel, 0.26 to 0.36% copper, 0.32 to 0.47 g/t platinum and 0.23 to 0.38 g/t palladium based on the assumption of a specific gravity of 3.22, strike length of 4000 to 7000 metres, depth of 200 to 250 metres and a width of 30 to 35 metres.
On May 31, 2011, the Companies’ respective shareholders have approved the Arrangement whereby PCNC will acquire the Lynn Lake and Wellgreen nickel properties from Prophecy. Refer to the June 1, 2011 joint news release issued by the Companies on the Arrangement.
This news release has been reviewed and approved by Danniel Oosterman, P.Geo., and a Qualified Person as defined in NI 43-101.
Planned Wellgreen Drill Holes
Wellgreen Property Topo and Expression at Surface
Validate and Digitize Historic Database (700+ diamond drillogs with assays) - Plan View
Long Section View of Wellgreen Drillhole Database (700+ holes)
Plan View
Long Section of Wellgreen Looking North
About Prophecy Resource
Prophecy Resource Corp. is an internationally diversified company engaged in developing energy, nickel and platinum group metals projects. The company controls over 1.4 billion tonnes of surface minable thermal coal resources in Mongolia. Prophecy's Ulaan Ovoo coal mine is operational and its Chandgana mine mouth power plant is currently being permitted. In Canada, Prophecy owns the Wellgreen PGM Project in the Yukon Territory and Lynn Lake Nickel Sulphide Project in Manitoba, both of which it has agreed to sell to Pacific Coast Nickel Corp. Prophecy also owns equity stakes in Victory Nickel Inc. and Compliance Energy Corp. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
About PCNC
Pacific Coast Nickel Corp is a Canadian based Nickel PGM exploration company with projects in Canada, Argentina and Uruguay. PCNC's Burwash property is located adjacent to Prophecy's Wellgreen project in the Yukon Territory, Canada. On April 4, 2011, PCNC agreed to buy Wellgreen and Lynn Lake projects from Prophecy Resource Corp by issuing 450 million Pacific Coast Nickel shares to Prophecy.
ON BEHALF OF THE BOARD OF DIRECTORS of Prophecy Resource Corp.
John Lee, Chairman
Prophecy Resource Corp.