Overview: Uruguay Project
At least three major Proterozoic basement terranes, one containing a significant Archean component, are present in Uruguay. These terranes are partially covered by Phanerozoic sedimentary rocks ranging from Cambrian to Quaternary, but are exposed in eastern and southern Uruguay. The three major terranes collided and rifted at various geological times, from the Early Proterozoic to the Neo-Proterozoic or Cambrian. Prophecy Platinum has First Administrative Rights over five Prospection Permits in Uruguay for magmatic nickel-copper sulfide exploration. These comprise the Cerro Chato (3,176-hectares), Molles North (4,283-hectares), Molles South (200-hectares), Quebracho (8,502-hectares) and Polanco (12,000-hectares) Prospection Permits
The Prospection Permits were identified by Company geologists as a result of countrywide targeting, followed by field reconnaissance, in 2008. Regional focus was on steep crustal-penetrating structural zones marginal to Precambrian cratonic blocks, with the presence of sulfidic metasedimentary cover rocks and, in some cases, historically reported ultramafic rocks. Multi-element Ni-Cu-Cr-Co anomalies in historical regional geochemical data led Company geologists to identify prospective ultramafic-mafic intrusive suites in all of the Prospection Permits. Read more >>
- Company holds rights to 8 distinct properties throughout Uruguay
- Grassroots projects with geophysical and geochemical database indicating anomalies over several properties
- Uruguay is considered business and mining friendly jurisdiction with an increasingly growing mining sector
- Follow up on notable geophysical and geochemical features with ground reconnoitring
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Mineral resources that are not mineral reserves do not have demonstrated economic viability. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this website.
Qualified Person under NI 43-101
John Sagman, P.Eng. PMP, Senior Vice President and Chief Operating Officer, is the qualified persons responsible for the technical information on this website.
Cautionary Note Regarding Mineral Resources and Mineral Reserves
Readers should refer to the Company's current technical reports and other continuous disclosure documents filed by the Company available on Sedar at www.sedar.com for further information on the mineral resource estimates of the Company's projects, which are subject to the qualifications and notes set forth therein, as well as for additional information relating to the Company more generally. Mineral resources which are not mineral reserves, do not have demonstrated economic viability. Inferred mineral resources have insufficient confidence to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability suitable for public disclosure. Neither the Company nor readers can assume that all or any part of an inferred mineral resource will be upgraded to indicated or measured mineral resource. Most projects at the inferred mineral resource stage do not ever achieve successful commercial production. Each stage of a project is contingent on the positive results of the previous stage and that there is a significant risk that the results may not support or justify moving to the next stage.
Quality Control and Quality Assurance
Prophecy Platinum executes a quality control program to ensure best practice in sampling and analysis. Samples are cut and split for assay with the remaining sample retained for reference. Blanks, Standard Reference Material (SRM), and duplicates were inserted into the sample stream every 20th sample. A duplicate sample is taken every 20th sample of core. The selected sample is sawn in half and then sawn in half again. The quartered core is then placed into two different sample bags with different sample numbers and sealed. The SRM material comes from Natural Resources Canada and Analytical Solutions Limited. These were inserted into the sample stream immediately after the second duplicate. The SRMs used are WMS-1a, WPR-1 and WGB-1. Sample Blanks are obtained from two sources; granodiorite from a local quarry and garden marble from hardware stores in Whitehorse, Yukon. A Blank sample is inserted into the sample stream after the SRM. Assayed samples are transported in sealed and secured bags for preparation at ALS Chemex Prep Lab located in Whitehorse, Yukon. Pulverized (pulp) samples are shipped for analysis to ALS Chemex Assay Laboratory in Vancouver, B.C. ALS Chemex is an ISO/IEC 17025:2005 accredited laboratory and registered under ISO 9001:2000.
Quality assurance and quality control are monitored using scatterplots, Thompson-Howarth plots and statistical analysis to ensure duplicates, blanks and standard data are reliable and indicate robustness of overall results. ALS Chemex quality-assurance procedures are also included in this process."