Platinum Group Metals Acquires Canadian Platinum Project

Platinum Group Metals Ltd. (TSX:PTM,NYSE:PLG) reported it acquired in the Providence Lake Nickel-Copper-Cobalt-Platinum Group Metals property.

Platinum Group Metals’ President and CEO R. Michael Jones says,

• The drill intercepts to date have returned impressive values, including an impressive 5.1 meters of 3.48% combined nickel copper with 2.3 g/t platinum, palladium and rhodium and 2.3 meters of 11.2 g/t platinum, palladium, rhodium, and other PGMs. The zone is open for offset drilling.
• On a regional basis the target is new and is one of the best Canadian opportunities in PGMs we have seen. We are looking to grow our Canadian exploration work at the time we are building our platinum mine in South Africa.
• The project comes with an established camp and a well assembled regional data base of geology, geophysics and geochemistry completed by a strong technical team at Artic Star.
• The location is remote, but is within 70 kilometers from the Diavik Diamond Mine, providing a potential future access route using the existing ice road to the region’s mines. Both the CEO and COO of Platinum Group have experience with mine development in the region.