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Platina Resources Ltd.
Summary
| Project: | Owendale | |
|---|---|---|
| Deposit: | Owendale | |
| Location: | Australia | |
| Commodities: | Scandium-Platinum-Nickel-Cobalt | |
| Date: | 2/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-2-2017: Platina Resources Ltd. announces a Resource Estimation report for its Owendale deposit at the Owendale project. Mineral resource estimate increased by 4% at Owendale. Platina Resources Limited (ASX: PGM) is pleased to advise it has completed an | |
| Resources: | (Resource, Total): 9.0Mt @ 335ppm Sc, 0.36g/t Pt, 0.26% Ni, 0.147% Co (0.1% Co cut-off) | |
| CP/QP: | [Resources]: John Horton (ResEval Pty Ltd.) | |
| ABSTRACT: | Platina Resources Limited (ASX: PGM) is pleased to advise it has completed an updated Mineral Resource estimate for its Owendale Scandium, Cobalt, Nickel and Platinum project in central New South Wales, Australia. The estimate incorporates a recent X-Ray Fluorescence (XRF) selective re-assaying program of 705 samples as well as 9,061 previous XRF assays discovered during reviews of the database and assaying data quality analysis. Platina Managing Director Rob Mosig said, “The updated Mineral Resource for cobalt is significant; currently, we have an in-situ metal content of more than 13,000 tonnes of cobalt. The high scandium content of 335 ppm associated with the high cobalt of 0.15% is particularly exciting from our metals marketing perspective. While the discovery of high cobalt is considered valuable, Platina will continue to focus its Feasibility Study on the unique and extremely high scandium content at Owendale, and we expect to complete this early in 2018 and move into the next stage of development.” The high grade cobalt Mineral Resource has significant scandium content, unlike the nearby CleanTeq Syerston deposit, 7 km south of Owendale. We are excited that the planned drilling programme will investigate the areas where the high grade mineralisation remains open. ” This Mineral Resource update includes new assay information but has no additional drilling and no changes to the classification or estimation methodology from the previous announcements dated 12 July 2016 and 21 September 2016. | |
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