Prophecy Platinum Corp. (CVE:NKL)(OTCQX:PNIKF) unveiled Thursday what it called "successful metallurgical recovery" results of up to 88 per cent copper and 73 per cent nickel from its Wellgreen project, southwest of Canada's Yukon Territory.
preliminary results are from the first phase of an extensive
metallurgical program at Wellgreen, which is a nickel-copper-platinum
group elements asset.
The program is focused on producing a
nickel-copper-platinum group elements-gold concentrate from the
disseminated sulphide, ultramafic mineralized rocks that comprise the
majority of Wellgreen's NI 43-101 compliant resource.
So far, a
total of 41 rougher and cleaner tests and four locked cycle flotation
tests have been conducted at a lab in Vancouver, with results indicating
that a bulk concentrate of 5.6% nickel, 6% copper, 3.5 grams per tonne
(g/t) platinum, 6.3 g/t pallidum and 0.5 g/t gold can be produced.
These results represent recoveries of 68% nickel, 88% copper, 46% platinum, 73% palladium and 59% gold.
"We are delighted with these preliminary results," said chairman John Lee.
"The follow-up met studies, along with our infill drilling, expansion
drilling, and preliminary economic studies in 2012 will continue to
de-risk our 100% owned Wellgreen project and advance this highly unique
asset towards feasibility."
The company said a 150 kilogram composite blend of the prevalent
host-mineralized rocks was crushed to a -10 mesh size and used as the
sample for testing.
While the preliminary phase focused on metal recovery from
Wellgreen's mineralization of typical representative grade, an
additional test was also done using material with a higher calculated
head feed grade, the company said, of 0.83% nickel, 0.55% copper, 0.57
g/t platinum, 0.57 g/t palladium, and 0.08 g/t gold.
This test produced a concentrate containing 8.2% nickel, 6.5% copper,
2.9 g/t platinum, 5.6 g/t palladium and 0.6 g/t gold, which represent
recoveries of 73% nickel, 88% copper, 38% platinum, 73% palladium, and
The company said both tests show that metals can be recovered from
varied Wellgreen mineralization, through "substantially identical
flowsheets and common reagents."
The results will be included into the company's upcoming preliminary
economic assessment (PEA) for the project, Prophecy said, which is
expected in June this year.
For the remainder of the year, the metallurgical program will use
samples collected from fresh core and stored in air-sealed containers to
avoid oxidation during prolonged lab testing, as opposed to initial
testing from newly shaved rocks.
The company also said that more reagent combinations will be used on
high grade sulphides to potentially improve nickel and platinum group
In addition, samples are being tested for rhodium, osmium, iridium,
and ruthenium as well, with results pending. Specific programs will be
developed to recover these elements, the company said.
Prophecy also conducted a flowsheet to produce separate nickel and
copper concentrates, which would provide additional downstream
marketability for the Wellgreen project, it said. Split stream tests are
being performed, with preliminary results expected in the second
At the project, the company has been diamond drilling on the property
using its underground workings as a platform, with a total of 14 holes
drilled to date. This represents around 3,000 metres of a planned 9,000
metre underground drilling program throughout 2012. First results are
expected this month.
A separate surface drilling program, with
up to four surface drills, is anticipated to start in late May, which
will focus on infill drilling to upgrade Wellgreen's inferred resource,
and exploration drilling to test several soil and VTEM anomalies seen at
the eastern and western extensions.
The entire 2012 drilling
program is expected to total around 20,000 metres and will be the
biggest exploration campaign in the Wellgreen project's history,
is a Canadian exploration company with projects in Canada, Argentina
and Uruguay. Its flagship project is Wellgreen, and it also holds the
Lynn Lake project in Manitoba, Canada.