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Titan
In January 2010, Prophecy Resource Corp. (now Prophecy Coal) entered into an option agreement with Randsburg International Gold Corp., whereby Prophecy assumed an 80% interest in the Titan Vanadium-Titanium-Iron. The Titan project is located in eastern Ontario, approximately 120 km east-northeast of Sudbury. Straddling the boundary between Angus and Flett townships, the property features proximity to excellent infrastructure. The main line of the Ontario Northland Railway crosses the property through the Bushnell flag station, about five miles southwest of the mineralized area. Highway 11, a main provincial highway linking northern and southern Ontario, is just 18 km west of Titan. A major high voltage transmission line (about 230-kv) runs approximately 2.5km east of the property and the Northern Ontario Natural Gas pipeline lies approximately 25km west of the property. Read more >>
Highlights:
- Deposit is in Ontario, Canada, between Angus and Flett townships, with access to excellent infrastructure
- 142 metres of 0.27% Vanadium (0.48% Vanadium Pentoxide) from Hole RA-5-21 and 174 metres of 0.26% Vanadium (0.46% Vanadium Pentoxide) from Hole RA-5-10. Mineralization starts from the surface to an open vertical depth of 500 meters. The complete horizontal and vertical extent of the deposit is still to be determined.
- Features aeromagnetic anomaly approximately 1,200 X 800 metres in area
Titan's Resource:
| Tonnes (t) | V (%) | TiO2 (%) | |
|---|---|---|---|
| Inferred | 49.0 Million | 0.24 | 14.82 |
Based on resource estimated at cutoff grade of 40% Fe2O3.
| Metal | Inferred |
|---|---|
| Vanadium | 259 Million lbs |
| Titanium Dioxide | 7,259 Million kgs |
Based on resource estimated at cutoff grade of 40% Fe2O3. Titan resource estimate is based on the February 2010 NI 43‐101 Technical Report by Mine Development Associates. The report is authored by Neil Prenn, P. Eng, who is an independent Qualified Person under NI 43‐101. Titan is 80% owned by Prophecy Coal.
Detailed Resource/Grade Table
Next Steps:
- Survey drill holes and project area to obtain more accurate drill hole coordinates and site topography
- Commission the metallurgy testing in preparation for a preliminary assessment of the Titan Project
Technical Report:
- Feb 2010, 43-101 Technical Report On Titan (File size: 2.2mb)
Table of Drill Logs:
- Titan 38 Drill Logs Part 1 (File size: 278kb)
- Titan 38 Drill Logs Part 2 (File size: 278kb)
News Release:
June 28, 2010 - Prophecy Commences Summer Exploration Program on its Titan Vanadium, Iron, Titanium Project, Ontario (mag. map included)
Prophecy Coal Corp. ("Prophecy") (TSX-V: PCY)(OTCQX: PRPCF)(Frankfurt: 1P2) (the "Company") announced today it has commenced an exploration program on its Titan Vanadium/Iron Project. The program comprises 22 line kilometres of linecutting covering over 2.7 square km in 100 m intervals that will extend the current surveyed grid west and southwest of the Titan Ti-V-Fe deposit.
Read more >>
January 14, 2010 - Prophecy Acquires 80% of Vanadium-Titanium-Iron Project in Ontario 
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Mineral resources that are not mineral reserves do not have demonstrated economic viability. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this website.
Qualified Person under NI 43-101
Christopher M. Kravits P.Geo., a consultant of the Company 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 resources. 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.
Click here for the forward-looking statements and the cautionary note.
