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Platinum Group Metals Ltd.
Summary
| Project: | Waterberg | |
|---|---|---|
| Deposit: | Waterberg | |
| Location: | South Africa | |
| Commodities: | Platinum-Palladium-Rhodium-Gold-Copper-Nickel | |
| Date: | 6/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 15-6-2017: Platinum Group Metals Ltd. announces an Exploration/Drilling Update report for its Waterberg deposit at the Waterberg project. Drilling results incl. 45.1m @ 1.21g/t Pt, 3.2g/t Pd, 0.23g/t Au, 0.15% Cu, 0.29% Ni from 208m. (Vancouver/Johannesbu | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: R. Michael Jones (Internal) | |
| ABSTRACT: | (Vancouver/Johannesburg) Platinum Group Metals Ltd. (PTM-TSX; PLG-NYSE MKT) (“Platinum Group” or the “Company”) reports that planned Definitive Feasibility Study (“DFS”) engineering work on the Waterberg Project is underway, including infill drilling, resource modelling, mine plan optimization and infrastructure engineering. Engineering and design work to reduce and improve underground development and optimize the project scale and return will be part of the DFS. The Waterberg Project represents one of the few significant undeveloped primary palladium assets globally. The palladium market has been in a fundamental deficit for a number of years and based on strong auto demand, limited mine supply and shrinking stockpiles this deficit is expected to continue. Detailed drilling targeting the higher grade, thicker portions of the deposit is in progress. The objective of the drilling is to move portions of the deposit into the measured resource category and to investigate the best grade portions for inclusion in early mine planning. License and permitting application work is also underway. Work at Waterberg is wholly funded at present by 28.35% JV partner JOGMEC (the Japan Oil, Gas and Metals National Corporation) through an exploration earn-in commitment. | |
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