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10/30/2008 1 Mining Montana Brett Davidheiser Stillwater Mining Company East Boulder

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10/30/2008

1

Mining Montana

Brett Davidheiser

Stillwater Mining Company

East Boulder

10/30/2008

2

Platinum Group Metals (PGMs)

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Palladium = Clean Air

Stillwater produces 7% of world demand for Palladium

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Regional Setting of the Stillwater ComplexRegional Setting of the Stillwater Complex

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Beartooth Mountains Uplift: Sequence 1Beartooth Mountains Uplift: Sequence 1

Beartooth Mountains Uplift: Sequence 2Beartooth Mountains Uplift: Sequence 2

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Beartooth Mountains Uplift: Sequence 3Beartooth Mountains Uplift: Sequence 3

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Generalized Stratigraphic Column of the Stillwater Complex

Generalized Stratigraphic Column of the Stillwater Complex

J-M REEF MINERALOGY

• Major Minerals• Plagioclase Feldspar (Labradorite)

• Orthopyroxene (bronzite)

• Clinopyroxene (augite)

• Olivine (serpentinized with magnetite)

• Minor Minerals• Sulfides

• Chromite

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J-M REEF ROCK TYPES

• NORITE - plagioclase and bronzite l tcumulate

• GABBRONORITE - plagioclase, augite, and bronzite cumulate

• TROCTOLITE - plagioclase and olivine cumulatecumulate

• DUNITE - olivine cumulate

• ANORTHOSITE - plagioclase cumulate

J-M Reef

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Sulfide Minerals• Most abundant sulfide minerals:

P rrhotite Fe S– Pyrrhotite Fe(1-x)S – Chalcopyrite CuFeS2

– Pentlandite (Fe,Ni)9S8

• Pentlandite hosts about 80% of the palladium

• Pd/Pt ratio approx. 3:1 – Recovered byproducts include gold, rhodium,

silver, copper, and nickel

J-M Reef

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A Day in the Life of a Grade Control Geo

Grade Control• Face Mark-ups

– Ore zone

– Shape

– Location

• Sampling– Channel Samples

– Muck Samples

• Mapping/Documentation

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Ramp and Fill

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74-695+0W

6 month Pt/Pd Prices

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One Year Pt/Pd price

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Brett DavidheiserBrett DavidheiserGeologist

[email protected]