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Wellgreen Platinum Ltd.
Summary
| Project: | Wellgreen | |
|---|---|---|
| Deposit: | Wellgreen | |
| Location: | Canada | |
| Commodities: | PGM-Gold-Nickel-Copper-Cobalt | |
| Date: | 6/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 26-6-2017: Wellgreen Platinum Ltd. announces a Resource Estimation report for its Wellgreen deposit at the Wellgreen project. Updated resource estimate for the Wellgreen project. VANCOUVER, June 26, 2017 /CNW/ - Wellgreen Platinum Ltd. ("Wellgreen") is pl | |
| Resources: | (Resource, M+I): 362Mt @ 0.26% Ni, 0.14% Cu, 0.015% Co, 0.217g/t Pt, 0.253g/t Pd, 0.032g/t Au | |
| CP/QP: | [Resources]: John Marek (IMC Mining Pty Ltd.) | |
| ABSTRACT: | VANCOUVER, June 26, 2017 /CNW/ - Wellgreen Platinum Ltd. ("Wellgreen") is pleased to report the results of its recently completed mineral resource estimate (the "2017 Resource Estimate") for its 100%-owned Wellgreen Ni-PGM-Cu project in the Yukon Territory, Canada ("Wellgreen Project"). Since the publication of the July 24, 2014 mineral resource estimate, an additional 74 drill holes were completed during four drill programs from 2013 through to 2016. These drill holes and assay data were incorporated into the new geologic model and 2017 Resource Estimate. The result of the additional drilling contributed to an approximate 10% increase in the Measured and Indicated classes of mineralization. By comparison to the 2014 resource model, if the metal prices, costs and recoveries used in the 2014 resource estimate were applied to the 2017 model, there would have been an approximate 25% increase in the Measured and Indicated Resources. However, lower US dollar metal prices, additional metallurgical testwork, which revealed lower recoveries (see news release dated March 1, 2017), and operating cost updates have partially offset some of the gains in tonnage, so the net increase in the tonnage of Measured and Indicated mineralization from 2014 to 2017 is approximately 10% at similar grades. Diane Garrett, President and CEO commented "Over the past 12 months we have taken the level of scientific testwork on the Wellgreen Project far beyond the Preliminary Economic Assessment ("PEA") stage and have a much better understanding of the deposit through that work. Amongst the knowledge gained is the identification of future exploration drill targets at Wellgreen and regionally within our land holdings, understanding how the material will perform in the process plant, potential smelters and shipping routes for our product and smelting and refining terms for our quality of concentrate. As we move the project forward we will be looking to produce an even higher-grade quality bulk concentrate as well as attempting to produce separate nickel and copper concentrates. Our work thus far indicates separate concentrates could significantly improve the overall potential economics of the project and that work is intended to begin in the fall of 2017 and to be completed prior to the release of a new PEA or advancing to a pre-feasibility study ("PFS"), as this information is expected to change the pit shape, mine plan and other factors." | |
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