Western Bushveld JV gets resource boost

Vancouver – Platinum Group Metals (PTM-V) has seen an increase in the PGM resource on its 37%-owned Western Bushveld joint venture in South Africa.

In its 2004 year-end report, the company’s equal 37%-partner Anglo American Platinum (AAPTY-Q) outlines an updated inferred resource of 21.1 million tonnes grading 5.88 grams PGMs (platinum, palladium and rhodium) plus gold per tonne in the Merensky Reef area, and 13 million tonnes grading 4.52 grams PGMs plus gold per tonne from the UG2 Reef area of the project.

The 58% increase in the resource is primarily attributed to further data and ore-block modeling by Anglo.The remaining 26% interest in the project is held by Black Economic Empowerment group Africa Wide Mineral Prospecting and Exploration.

Platinum Group Metals has two main projects within the western limb of the Bushveld complex, Elandsfontein and Onderstepoort.