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Encanto Potash Corp.
Summary
| Project: | Muskowekwan | |
|---|---|---|
| Deposit: | Muskowekwan | |
| Location: | Canada | |
| Commodities: | Potash | |
| Date: | 6/12/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Mine Development | |
| Report details: | 12-6-2017: Encanto Potash Corp. announces a PEA report for its Muskowekwan deposit at the Muskowekwan project. Updated mineral resources and PEA results incl. pre-tax NPV $1.13B, IRR of 18.9%. This Technical Report was prepared by Amec Foster Wheeler Mini | |
| Resources: | ||
| CP/QP: | [Resources]: Tabetha Stirrett (North Rim Exploration Ltd.) | |
| ABSTRACT: | This Technical Report was prepared by Amec Foster Wheeler Mining, North Rim Resources Ltd., and Agapito Associates, Inc., and Novopro Projects Inc. for Encanto Potash Corp to summarize Preliminary Economic Assessment (2017 PEA) and Pre-Feasibility Study (2013 PFS) results for the Muskowekwan Potash Project (the Project). The 2017 PEA defines a higher production rate scenario with improved economic results than the 2013 PFS. The mineral exploration results and mine design concept from the 2013 PFS are unchanged and they support current Proven and Probable Mineral Reserves. The 2017 PEA is based only on Measured and Indicated Mineral Resources. The 2013 PFS is also summarized in this Technical Report as a relevant alternative mine development scenario. A review of the economic analysis for the 2013 PFS shows a positive NPV at the potash prices assumed for the base case in the 2017 PEA. Thus while the 2013 PFS provides a lower economic return than that of the 2017 PEA, the 2013 PFS remains valid, including its Mineral Reserve statements. In 2010, Encanto Potash Corp. formed a formal Joint Venture Agreement (JVA) with the Muskowekwan First Nations and Muskowekwan Resources Limited Partnership (MRL). The purpose of the JVA is to progressively develop plans to delineate a potash resource substantial enough to support a potential mining operation on the Muskowekwan First Nations’ land. The Project Area is located on the Muskowekwan Indian Reserve 85 (IR85, AANDC Permit Number 368519) which is situated in south-eastern Saskatchewan approximately 100 km north-northeast of Regina. The project area is approximately 100 km south-east of BHP Billiton’s Jansen Project and approximately 125 km north-east of Mosaic’s Belle Plaine Mine. | |
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