Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) announced that hole WB-99 at its South Africa-based joint venture with Japan Oil, Gas and Metals National Corporation intersected 25.5 meters of T2 layer grading 6.4 grams per metric ton 3E (1.86 g/t platinum, 3.2 g.t palladium and 1.37 g/t gold, 0.34-percent copper and 0.17-percent nickel) over a core length of 25.5 meters and at a depth of 681 to 706.5 meters.
As quoted in the press release:
Included is a higher grade intercept of 2.5 metres of 12.2 g/t 3E at 698.5 metres to 701.0 metres. This intercept is located 800 meters northeast along strike from the previous intercepts and 300 meters northeast of the blocks in the current T2 layer resources. The assays from WB-99 display the distinctive T layer metal ratios of approximately 29% Platinum, 50% Palladium and 21% Gold. WB-99 is within the JOGMEC joint venture, where the Company holds a 49.9% effective interest.
R. Michael Jones, CEO of Platinum Group Metals, commented:
This intercept is important because it’s high grade, thick, relatively near surface, open up dip, is an 800 meter step out from the most north eastern intercept and it increases the potential of the best grade, best metallurgical recovery layer in the Waterberg deposit. The intercept is in position, at the predicted depth, with the signature 20% gold ratio in the precious metals basket, further confirming it to be T2.