Hunter-Dickinson-led junior, Anooraq Resources (ARQ-V) has tabled results from two more holes on its Rietfontein farm on the northern limb of the fabled Bushveld igneous complex, about 275 km north of Johannesburg, South Africa.
African Minerals sank the holes in 2002 as part of its obligations to earn a half-interest in the 29-sq.-km Rietfontein farm. The results were only recently delivered to Anooraq.
Hole 27 returned 106 metres (from 43.2 metres below surface) grading 1.1 grams platinum-palladium-gold (PGMs), including 25.6 metres (from 97.6 m) of 1.64 grams PGMs, and 16.8 metres (from 156 m) of 1.56 grams PGMs. The intervals also included between 0.2 and 0.8% nickel, and 0.2 and 0.6% copper.
Hole 29 yielded 93.4 metres (from 47 m) averaging 1 gram PGMs, 0.25% nickel and 0.3% copper, including 45.8 metres (from 78 m) running 1.33 grams PGMs.
To earn its stake, African Minerals, a private affiliate of Robert Friedland’s Ivanhoe Capital, must spend at least $1.5 million on exploration.
Some 36 holes previously sunk by American Minerals on Rietfontein returned similar results.
The holes targeted the Platreef pyroxenite horizon, which straddles Rietfontein and African Minerals’ Turfspruit farm. The horizon hosts intervals of disseminated, net-textured and massive sulphides averaging about 1 gram combined platinum-palladium-gold per tonne plus nickel and copper.
So far, drilling has outlined mineralization over a strike length of 1.4 km. The zone dips at 30-70 to the west, averages 150 metres in width and extends vertically to 50-250 metres below surface. The platinum-to-palladium ratio is about 0.65, and the platinum-to-gold ratio is around 3.
American Minerals is believed to be busy delineating some 1 billion tonnes exceeding 1 gram PGMs plus gold on its Turfspruit farm.
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