Detailed drilling on targets in the Bushveld igneous complex by Platmin (PPN-T, PPN-L) has confirmed earlier drilling that intersected high-grade platinum group mineralization at the M’Phatlele property in Limpopo province, South Africa.
Holes on the upper Merensky reef of the Bushveld intersected widths of 1.7 to 2.2 metres, with platinum grades of 2 to 3 grams per tonne and palladium grades of 1.2 to 1.9 grams.
A larger number of holes were drilled to intersect the UG2 reef, encountering mineralization of higher grades over greater widths. Most holes intersected 2 to 3 metres with combined platinum, palladium, rhodium and gold grades of 4 to 8 grams per tonne. Platinum grades were mainly 2 to 3 grams of that total, and palladium grades 1.5 to 3 grams.
An inferred resource calculation on the M’Phatlele deposit showed 35 million tonnes on the Merensky reef with average grades of 1.9 grams platinum, 1.2 grams palladium, 0.11 gram rhodium and 0.35 gram gold per tonne. On the UG2 reef, there was a resource of 53 million tonnes grading 2.6 grams platinum, 2 grams palladium, 0.45 gram rhodium and 0.1 gram gold per tonne.
The property covers an 8-km strike length of the two reefs, which are about 170 metres apart on the ground and about 130 metres apart stratigraphically.
The new drilling, which confirms the thickness and location of the two reefs to about 500 metres vertical depth, will be used in a forthcoming resource calculation. Engineering firm SRK Consulting is currently developing a prefeasibility study on the project, and there are four drills on the property extending resource drilling to 1,500 metres depth. The deepest holes so far in that program intersected the lower of the two reefs, UG2, at 860 to 940 metres depth.
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