The Shakespeare nickel-copper-PGM mine
near Webbwood is being put on care and maintenance, and Prophecy Platinum anticipates providing an update on the project in early
The company will review various
infrastructure, processing and transportation options before
providing an update.
According to Prophecy’s most recent
assessment, at a C$50/tonne net smelter return cutoff, Shakespeare’s
Underground East Zone contains an indicated resource of 3.57 million
tonnes grading 0.32 per cent nickel, 0.39 per cent copper, 0.02 per
cent cobalt, 0.34 grams per tonne platinum, 0.37 grams per tonne
palladium, and 0.2 grams per tonne gold.
The East Zone also contains an inferred
resource of 1.87 million tonnes grading 0.32 per cent nickel, 0.36
per cent copper, 0.02 per cent cobalt, 0.34 grams per tonne platinum,
0.36 grams per tonne palladium, and 0.21 grams per tonne gold. This
resource update adds approximately 30 per cent to Shakespeare's
Prophecy chair John Lee remains
optimistic about Shakespeare’s prospects.
“Prophecy develops nickel-copper-PGM
mining project in Canada and provides leverage to those metals,”
Lee said in a news release. “The Shakespeare nickel-copper-PGM
project is a fully permitted mine with proven metallurgy. The marked
increase in total global resource demonstrates the potential
longevity of Shakespeare as a mine.”
Prophecy acquired Shakespeare following
a merger with Ursa Major Minerals in July.