Resource Number for Pilanesberg Deposits

Platmin (PPN-T, PPN-L) has published new resource estimates for two deposits on its Pilanesberg platinum group element property, in the Bushveld intrusive complex of northern South Africa.

A new estimate on the Tuschenkomst deposit puts its measured and indicated resource at 66.8 million tonnes grading 1.27 grams platinum, 0.59 gram palladium, 0.17 gram rhodium and 0.06 gram gold per tonne. The resource also contains 0.09% nickel and 0.02% copper.

The Tuschenkomst resource occurs in five platinum-bearing reefs, with 39% of the tonnage in the Merensky Footwall reef and another 45% in three reefs stratigraphically between the Merensky and the UG2 reefs, centring on the harzburgite Pseudo-Reef layer. That part of the resource has been proposed for bulk open-pit mining, with selective mining of the UG2 reef below.

The UG2 material, with a much higher concentration of oxides, would be milled separately from the silicate-sulphide mineralization in the Merensky and intervening reefs.

At the Ruighoek deposit, an indicated resource has been calculated down to a limit of 200 metres vertical depth. Altogether, 12 million tonnes at 1.9 grams platinum, 0.86 gram palladium, 0.21 gram rhodium and 0.09 gram gold per tonne has been blocked out.

The proposed mining method at Ruighoek would be selective mining of its four mineralized reefs (Merensky, UG2, and two intervening reefs) with the ore being trucked to Tuschenkomst.

On the whole Pilanesberg project, measured and indicated resources (including two other properties, Witkleifontein and Rooderand) total 78.8 million tonnes grading 1.37 grams platinum, 0.63 gram palladium, 0.16 gram rhodium and 0.09 gram gold per tonne. The indicated resources are all on Tuschenkomst and Ruighoek.

In addition to the inferred resources at those two deposits, two others have an inferred resource already estimated. At Witkleifontein, 16.3 million tonnes grades 2.87 grams platinum, 1.36 grams palladium, 0.38 gram rhodium and 0.14 gram gold. At Rooderand, 5.1 million tonnes averages 2.9 grams platinum, 1.38 grams palladium, 0.38 gram rhodium and 0.14 gram gold.

Of the Pilanesberg resources, 72.4% is attributable to Platmin, through its shareholding in a South African company, Boynton Investments, which owns the property.

A final feasibility study, using the new estimates as a mineral resource, is nearing completion.