ONTARIO – Prophecy Platinum of Vancouver has released an updated 43-101 estimate for the Shakespeare deposit underground East zone. The deposit, located 70 km west of Sudbury, ON, was acquired though a merger with Ursa Major Minerals in July 2012.
At a C$50/tonne net smelter return cut-off, the underground East zone contains an Indicated resource of 3.57 million tonnes grading 0.32% Ni, 0.39% Cu, 0.02% Co, 0.34 g/t Pt, 0.37 g/t Pd, and 0.2 g/t Au. The East zone also contains an Inferred resource of 1.87 million tonnes grading 0.32% Ni, 0.36% Cu, 0.02% Co, 0.34 g/t Pt, 0.36 g/t Pd, and 0.21 g/t Au. This resource update adds approximately 30% to Shakespeare’s global resource, according to Prophecy.
The East zone has not been mined. Small scale open pit mining was done in the West zone from May 2010 to February 2012, and the ore was treated at Xstrata’s nearby Strathcona mill.
Visit ProphecyPlat.com to view the long section of the Shakespeare resource model.