The executive chairman of Ivanplats (TSX:IVP), Robert Friedland, announced through a speech at the Investing in African Mining Indaba Conference, that a drilling which took place in the company-owned Flatreef Discovery dramatically expanded its precious metal resources, including palladium.
As quoted in the press release:
In addition, the latest estimate includes Inferred Mineral Resources of 410 million tonnes grading 3.3 g/t 4PE, 0.32% nickel and 0.18% copper, at an average true thickness of 18.0 metres. The Inferred resources contain an estimated, additional 44.0 million ounces of platinum, palladium, gold and rhodium, 2.9 billion pounds of nickel and 1.6 billion pounds of copper.
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