Anooraq hits PGMs at Drenthe

Vancouver — Initial results from drilling of the Drenthe platinum-palladium-gold-nickel deposit in South Africa are encouraging for Anooraq Resources (ARQ-T).

Highlights include 9 metres grading 2.89 grams of combined platinum, palladium, rhodium and gold per tonne at a depth of 126 metres in hole PR51; 19 metres of 2.88 grams at a depth of 85 metres in hole PR60; and 18 metres of 2.56 grams at a depth of 45 metres in hole PR63. Two long intersections graded up to 1.98 grams combined precious metals over 45 metres at a depth of 63 metres in holes PR67 and PR68.

Situated 250 km north of Johannesburg, the property is underlain by the northern limb of the Bushveld complex. The companies intend to develop Drenthe into a large open-pit platinum-group-metal mine and use nearby milling and smelting facilities to save costs.

The Drenthe deposit has an estimated inferred resource of 99.4 million tonnes grading 1.31 grams of combined platinum, palladium, gold and rhodium, plus 0.16% nickel, at a 0.5-gram cutoff. The resource extends for 2.1 km on the Drenthe farm and is open in three directions. The Overysel farm, to the south, adds 2.8 km of prospective strike length.

Two drill rigs are turning on the Drenthe farm, and two on the Overysel farm — all under a joint-venture agreement with Anglo American Platinum (AAPTY-O). The overall exploration program includes 16,000 metres of infill and stepout drilling, as well as geotechnical and metallurgical studies.