SOUTH AFRICA – Platinum Group Metals of Vancouver, the operator and 49% owner of the Waterberg joint venture and adjacent Waterberg Extension in the Bushveld Complex, has added up the ounces of four precious metals and says they total 29 million oz of platinum, palladium rhodium and gold. The joint venture partners include Japan Oil, Gas and Metals National Corp. (37%) and a black empowerment company (15%).
Platinum Group says the total inferred resource is now 287 million tonnes grading 0.94 g/t Pt, 1.92 g/t Pd, 0.04 g/t Rh, and 0.25 g/t Au (3.15 g/t 4E). Included in the total 29 million contained ounces are 6.8 million oz of the four metals found in the Waterberg Extension.
The Waterberg deposit consists of discrete, layered and continuous PGM bearing layers starting at 140 metres from surface with a consistent westerly dip. The deposit has so far been drilled for approximately 10.4 km northwards on strike. Geophysical surveys and drilling to date indicate the deposit remains open down dip and on strike to the northwest. The observed deposit layers are 2.75 to 60 metres thick and have well identified and modeled rock unit and geochemical markers, reported Platinum Group.
The latest Platinum Group corporate presentation contains information about the Waterberg discovery as well as current activity. Read it at PlatinumGroupMetals.net.