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Platina Resources Ltd.
Summary
| Project: | Platina | |
|---|---|---|
| Deposit: | Platina | |
| Location: | Australia | |
| Commodities: | Scandium-Platinum-Nickel-Cobalt | |
| Date: | 12/13/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 13-12-2018: Platina Resources Ltd. announces a Resource Estimation report for its Platina deposit at the Platina project. Updated ore reserve estimate at the project. Platina Resources Limited (“Platina”, ASX: PGM) is pleased to announce a 5% increase in | |
| Resources: | (Reserve, P+P): 4.027Mt @ 570ppm Sc, 0.09% Co, 0.12% Ni at Platina | |
| CP/QP: | [Overall Report]: Gary Benson (Measured Group Pty Ltd.) | |
| ABSTRACT: | Platina Resources Limited (“Platina”, ASX: PGM) is pleased to announce a 5% increase in the Ore Reserve estimate for its 100% owned Platina Scandium Project (PSP) in New South Wales, Australia. This Ore Reserve update follows from the Mineral Resource upgrade announced on 16 August 2018, which included the results of the 2018 drilling program and completion of the PSP Definitive Feasibility Study (“DFS”). The PSP DFS, which is the subject of a separate announcement made today, demonstrates the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing scandium oxide. The positive DFS demonstrates the opportunity to create substantial long-term sustainable shareholder value at a manageable capital cost. The positive DFS is considered sufficient to determine, in accordance with the JORC Code 2012, that a subset of the Measured and Indicated Mineral Resource (please see ASX announcement “Platina Scandium Project – Positive Definitive Feasibility Study”, 13 December 2018) be classified as Ore Reserves – see Table 1. The DFS demonstrates that a viable mining and processing operation, and the infrastructure to support this, are available to develop the project. The DFS takes into account all the modifying factors considered material to the development of the project and statement of Ore Reserves. The inputs into the economic and financial analysis were based on realistic assumptions of technical, engineering, operating and economic factors. The capital and operating cost estimates were obtained from reputable consulting groups at the appropriate level of confidence for the DFS. Mineral Resource Estimate On 16 August 2018, the Company announced an updated Mineral Resource Estimate for the PSP. | |
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