More 26.34mn oz PGE than early indicated!
Platinum Group Metals announces positive results from additional drilling and mineral resource assessment on the Waterberg Project’s palladium dominant deposit. The 2018 drilling program has increased confidence in the estimated Mineral Resources for the project, with 6.26 million 4E ounces now recognized in the higher confidence Measured Category.
Mineral Resources estimated in the combined Measured and Indicated Categories have increased by 1.46 million 4E ounces to 26.34 million 4E ounces. Inferred Mineral Resources are estimated at 7.0 million 4E ounces. All of the preceding estimated at a 2.5 g/t 4E (palladium, platinum, rhodium and gold) cut-off grade.
The new increased confidence level Mineral Resources are being used for detailed mine planning in an ongoing Definitive Feasibility Study. The DFS is being managed by Platinum Group and a Technical Committee including all partners of the project operating company Waterberg JV Resources.
R. Michael Jones, CEO and co-founder of Platinum Group said, “Waterberg is characterized by thick, near surface mineralized zones, which are potentially amenable to low cost, safe, bulk mechanized mining methods. The deposit remains open at depth and to the northwest on strike. The rare palladium dominance of the deposit is well suited to current and projected demand trends.”
