HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Metal Equivalents

posted on Sep 26, 2008 06:34AM

Thought that this calculation might be very interesting.

Lets look at BB1. From microprobe analyses of the chromite we know that it contains 35.5% Cr (51.9% Cr2O3)with a Cr:Fe ratio of 1.72. Hence, it contains 20.6% Fe. Combined Cr+Fe=56.1%. One drill core intersection assay gave 39.1% Cr2O3==>75 wt% chromite.

Therefore, 1 tonne chrome ore contains 0.75 x 2204=1653 lb chromite

56.1% Cr+Fe per lb chromite=927 lb Cr+Fe (i.e. ferrochrome)

Price of ferrochrome approx $1/lb

Therefore, value of 1 tonne chrome ore from BB1=$927



Lets look at a Ni ore

Price of Ni approx $10,000/tonne==>$4.50/lb

For an equivalent value/tonne, 1 tonne Ni ore would have to contain $972/$4.50=206 lb Ni==>9.3% Ni equivalent

Please check my calculations someone.

Thanks

geoprof



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