Platinum Group Metals Reports Thick and Shallow Intercepts at Waterberg

Platinum Group Metals (TSX:PTM) reported additional drill results and progress with pre-feasibility engineering for its Waterberg project. Highlights included intercepts of 3.42 grams per tonne of platinum, palladium and gold over 5.5 meters at a vertical depth of 173.5 meters.
As quoted in the press release:

Intercepts also include 90.95 meters, from a depth of 466.28 meters to 557.23 meters, grading 3.71 g/t 3E (0.99 g/t Pt, 2.52 g/t Pd, 0.20 g/t Au) with an estimated true thickness of 71 meters.
Drilling on the T zone has also confirmed depth continuity, including an intercept of 5.84 g/t (1.80 g/t Pt, 2.86 g/t Pd, 1.18 g/t Au) over 19 meters with a 15 meters true width at a depth of 812 meters to 831 meters.

In terms of ongoing pre-feasibility engineering, the company reported:

The three highest valued zones-T zone, Central Super F and Northern Super F zone will be targeted for inclusion in the mine design work.
Pre-feasibility work including design and preparation for power and water supplies, mine planning, metallurgical studies and trade-off analysis has continued throughout 2015 using a group of independent specialists. Metallurgical work to study deposit variability and optimize the potential flow sheet and concentrate recoveries is ongoing. This work has been encouraging.
A resource update including recent drilling is scheduled for completion in early 2016 and will be used for the pre-feasibility mine plan. The consolidation of the project area in a recent agreement with the Japan Oil, Gas and Metals National Corporation (“JOGMEC”) has allowed the full deposit strike length of 13 kilometers, including shallow Super F zones, to be considered and optimized in the pre-feasibility study. All of the current 2015 project work continues to be funded by a commitment from JOGMEC.

Click here for the full press release.