Platinum Group Metals Ltd. (TSX:PTM,NYSE:PLG) announced it has significantly expanded the new discovery area of layered mineralization outside of the declared inferred resources of 6.6 million ounces at Waterberg platinum property.
As quoted in the press release:
The initial resource covers a strike length of 1.8 kilometres on the T layers and 2.8 kilometers on the F layers.
Intercepts have been made on the T1 and T2 layers that expand the area for approximately 1.5 kilometers northeast from the initial resource area and on the FH and FP the layers new intercepts have also expanded this area for approximately 1.5 kilometers. Drilling continues approximately 3 kilometers north east of the resource area for the FH and FP mineral resource. The Bushveld Complex has been intercepted in this 3 km expanded drilling. The significant intercepts are detailed below.
Get Our Expert Guide to Platinum Investing FREE!Download this FREE Special Report, Why Invest in Platinum Stocks? What the Future Could Hold for Lonmin, the AMCU and South African Platinum Production.