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Platina Resources Ltd.
Summary
| Project: | Owendale | |
|---|---|---|
| Deposit: | Owendale | |
| Location: | Australia | |
| Commodities: | Scandium-Platinum-Nickel-Cobalt | |
| Date: | 8/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-8-2018: Platina Resources Ltd. announces an Exploration/Drilling Update report for its Owendale deposit at the Owendale project. Drilling results incl. 3m @ 0.76% Co from 22m. Platina Resources Limited (ASX: PGM) is pleased to report the assay results f | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: John Horton (ResEval Pty Ltd.) | |
| ABSTRACT: | Platina Resources Limited (ASX: PGM) is pleased to report the assay results from the recent drilling program at its Owendale Scandium, Cobalt, Nickel and Platinum project in central New South Wales, Australia. Of the 31 Mineral Resource definition holes drilled, 15 intersected more than one-metre widths at scandium grades greater than 550 ppm (including 5 metres at 710 ppm Sc) and 25 holes with cobalt grades greater than 0.15% (including 3 metres at 0.76% Co) – see Table 1 for a summary of the assay results. The results are very encouraging with higher than expected scandium mineralisation and a southwards extension of the high-grade cobalt and platinum areas previously defined at North Box Cowal. The data from the drilling program will be used to update the JORC Mineral Resource for inclusion into the Definitive Feasibility Study (“DFS”), and development permit applications. The aim of the drilling program was to infill drill two additional prospect areas as part of the DFS and assist in modelling the widened area for mine permitting. In addition, a number of holes were drilled for environmental sampling, ground water monitoring and trial water bores. The drilling has added ground water monitoring and environmental information required for the DFS as well as increasing the Mineral Resource confidence for the additional areas. One drill hole successfully intersected a water resource that has the potential to supply the future mine water requirements. Platina Managing Director, Corey Nolan, commented “It’s very pleasing to have intersected high-grade scandium and cobalt mineralisation in areas which can be incorporated into an updated JORC Mineral Resource for the DFS which is due for completion in Q4/2018. Owendale has cemented itself as one of the world’s high-grade scandium projects and the new results will enhance the overall economics and competitive position of the project”. | |
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