Platinum Group Metals Extends Waterberg Deposit

Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) yesterday announced new drill intercepts from the Super F platinum-palladium-gold mineralization, commenting that they extend the Waterberg deposit.

As quoted in the press release:

Drilling is continuing with 12 machines and the F and Super F layers have been intersected in numerous drill holes along 5 kilometers of strike north from the Waterberg deposit on the Waterberg Extension. The results from 4 offset holes to hole WE-08 (53.22 meters grading 5.25 g/t 3E (1.40 g/t Pt, 3.59g/t Pd, 0.27 g/t Au) have confirmed a significant  ‘Super F’ extension with  similar widths to the Super F region in the main Waterberg Deposit. The Extension Intercepts have consistent layering, geology, metal ratios and base metals credits to the main Super F layers.

The company also revealed a new discovery located 16 kilometers north of the Waterberg joint venture.

A new layer of mineralization has been intercepted 16 kilomters north of the current resource in Hole WE-014 a with assays of  4.01 meters grading 3.73 g/t 3E (1.43g/t Pt, 2.22 g/t Pd, 0.08 g/t Au).  Included is 2.66 meters of 5.05 g/t 3E (1.93g/t Pt, 3.03 g/t Pd,0.09 g/t Au).  A 250 meter offset hole has intercepted similar geology and has assays pending.  Hole WE-012 may have also intersected similar mineralization with lower grades over 13 meters approximately 4 kilometers to the south east. Given the regional scale of the intercepts correlations are preliminary.

Click here to read the full Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) press release.