For thousands of other reports visit RSC's Mineral Intellingence Map
Platina Resources Ltd.
Summary
| Project: | Owendale | |
|---|---|---|
| Deposit: | Owendale | |
| Location: | Australia | |
| Commodities: | Scandium-Platinum-Nickel-Cobalt | |
| Date: | 8/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-8-2017: Platina Resources Ltd. announces a Resource Estimation report for its Owendale deposit at the Owendale project. 21% increase in the 300ppm cut-off Scandium Mineral Reserve. Platina Resources Limited (“Platina”, ASX: PGM) is pleased to announce a | |
| Resources: | (Resource, Total): 33.7Mt @ 395ppm Sc, 0.28g/t Pt, 0.11% Ni, 0.06% Co at project | |
| CP/QP: | [Resources]: Robert Mosig (Internal) | |
| ABSTRACT: | Platina Resources Limited (“Platina”, ASX: PGM) is pleased to announce an updated scandium Mineral Resource estimate at its 100% owned Owendale project, outlined in Table 1 and Table 2. Owendale is a scandium-cobalt-nickel-platinum project located 7 km from Clean TeQ’s (ASX: CLQ, A$436m market capitalisation) analogous Syerston deposit in central NSW, Australia. The new Mineral Resource estimate positions Owendale as the largest and highest-grade scandium, cobalt and platinum deposit so far reported. The current scale and grade of the Owendale Measured and Indicated Mineral Resource is expected to provide the basis of mining Ore Reserves (due in September quarter 2017) which will be utilised in the upcoming feasibility study. The new resource estimate incorporates data from the 3,792 m drilling program completed in June 2017 and the results from a re-assaying program of historical drilling. The intention of the June 2017 drilling program was to upgrade the Mineral Resource in the key Owendale North development focus area to Measured and Indicated category and include some exploration and extension drilling. The updated Mineral Resource estimate represents a 21% increase in the size of the scandium Mineral Resource to 33.7 Mt at a 300 ppm cut-off level (up from 27.9 Mt), and a 3% increase in scandium grade to 395 ppm (up from 385 ppm). Of most significance is the high-grade scandium Mineral Resource, which has increased 127% to 1.54 Mt @ 675 ppm Sc (up from 0.7 Mt @ 650 ppm Sc in February 2017). The August 2017 Mineral Resource estimate has confirmed that the Owendale North region of Owendale, which was the key focus of the recently completed preliminary feasibility study (“PFS”) and drilling (refer to ASX announcement dated 10 July 2017), now contains sufficient Measured and Indicated Mineral Resource to define Ore Reserves. Mining studies have commenced in this regard and will consider a 40+ year mining schedule using similar parameters outlined in the PFS. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report