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Platina Resources Ltd.
Summary
| Project: | Owendale | |
|---|---|---|
| Deposit: | Owendale | |
| Location: | Australia | |
| Commodities: | Scandium-Platinum-Nickel-Cobalt | |
| Date: | 9/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 13-9-2017: Platina Resources Ltd. announces a Resource Estimation report for its Owendale deposit at the Owendale project. Initial Ore reserve for project confirm results of Pre-feasibility study. Platina Resources Limited (“Platina”, ASX: PGM) is pleased | |
| Resources: | (Reserve, Total): 263 kt @ 640ppm Sc, 0.18% Co, 0.18% Ni at Owendale | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Platina Resources Limited (“Platina”, ASX: PGM) is pleased to announce a maiden Ore Reserve estimate at its 100% owned Owendale project, outlined in Table 1 and further detailed in Table 3. The updated August 2017 Mineral Resource and this maiden Ore Reserve positions Owendale as the largest and highest-grade scandium and cobalt development discovered. The Ore Reserve confirms the findings reported in the Owendale preliminary feasibility study (“PFS”, refer to ASX release dated 10 July 2017). The maiden Ore Reserve underpins the positive project economics including an optimised, mine schedule of an initial 35 years of high grade ore feed (HG, >550 ppm Sc), including an initial 5 years of high grade cobalt (0.18% Co head grade) recovered as a by-product. This is followed by a further 45 years of medium grade (MG, 400 to 550 ppm Sc) ore feed from stockpiles. Platina Managing Director, Robert Mosig, commented: “Releasing a maiden Ore Reserve is the final step in the Owendale PFS and highlights an optimised approach to mining our world class Owendale resource. Our focus now turns to finalising our marketing studies and evaluate the economics of a pilot plant to commence processing in 2018. The maiden Owendale Ore Reserve further demonstrates the robustness of the project which has been optimised for grade and mine life. The first 35 years of mine life will have a scandium content of over 600 ppm. Our scandium strategy over the next 6 to 12 months is to secure off-take partners which will help Platina become a major global supplier of scandium oxide to the energy and transportation industries.” | |
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