Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) announced that assays from drilling at its Waterberg Extension project “continue to confirm the extension of the F and Super F zones along strike.”
Hole WE 08 returned preliminary assay values of 5.26 grams per tonne (g/t) platinum, palladium and gold (1.4 g/t platinum, 3.59 g/t palladium and 0.27 g/t gold) over 53.22 meters.
As quoted in the press release:
Hole WE 08 is located approximately 340 metres northward along strike from previously announced hole WE 02 at the Waterberg Extension Project (15.63 metres grading 3.16 g/t 3E, 1.11 Pt g/t, 1.92 g/t Pd, 0.13 g/t Au) and approximately 1,600 metres directly along strike from the Waterberg Joint Venture Project deposit. The mineralization in WE 08 has geological units and layering that is consistent with the deposit to the south. Assays from WE 08 directly below the intercept reported are pending at this time. The intercept is open for expansion along strike and up and down dip. A total of 8 holes have been completed in the first 4.7 kilometres of the F zone type target on the Waterberg Extension Project and 5 of these have successfully intersected the F zone style of mineralization.
R. Michael Jones, the company’s president and CEO, commented:
The scale and continuity of the Waterberg Extension Project mineralization continues to impress our geologists and engineers. Clearly we have a significant exploration opportunity for 2014 on the Waterberg Extension Project.