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Potash Ridge Corp.
Summary
| Project: | Blawn Mountain | |
|---|---|---|
| Deposit: | Blawn Mountain | |
| Location: | United States | |
| Commodities: | Potash-Aluminium | |
| Date: | 4/19/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-4-2017: Potash Ridge Corp. announces a Pre-Feasibility Study report for its Blawn Mountain deposit at the Blawn Mountain project. Updated Pre-Feasibility Study with Initial resources for alumina contained in the tailings. This technical report was prep | |
| Resources: | ||
| CP/QP: | [Resources]: Steven B. Kerr (Millcreek Mining Group) | |
| ABSTRACT: | This technical report was prepared by Millcreek Mining Group (Millcreek) for Potash Ridge Corporation (PRC), a publicly traded mineral exploration and development company with its corporate offices in Toronto and Ontario, Canada. This report summarizes an updated Prefeasibility Study (PFS) performed on the Blawn Mountain Project by Millcreek and Resource Development Inc. (RDI) that focuses on the mining and processing of alunite ore for the production of sulfate of potash (SOP). This report incorporates the results of trade-off and scaling studies performed by SNC Lavalin (SNC) for the processing facility. For reference and clarity, this Technical Report serves as an update to the Technical Report that PRC completed in November, 2013. The purpose of this Technical Report is to present a more realistic and accurate estimation of project value. Given the investment market’s appetite and interest in similar capital projects, PRC proposes an optimum annual production rate of 3.4 million tons per year (Mtpy) (down from the previously proposed 10.4Mtpy). However, the Life-of-Project has been constrained to approximately 46 years to maintain the level of confidence required to define economic reserves. While this leads to an overall decrease in the economic reserves that can be reported in this study, it does not impact resources available for consideration after the Life-of-Mine (see Section 15.3). The previous 2013 Technical Report reported mineable economic reserves of 425.8Mt. This is in contrast to estimated economic reserves of 153.3Mt presented in this study. The significant changes in these estimates are not attributable to a decrease in mineable resources or newlyidentified adversities in mining conditions, operating costs or other economic factors (such as price). Rather, the current reserves estimate reflects an improved and fundamentally different approach to the project with respect to annual production rate. The reserves identified in this PFS extract approximately 27% of the available resources defined to date. A substantial resource will remain at Blawn Mountain should an expanded operation be given consideration in the future. | |
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