Platinum Group Metals Engages DRA Mineral Projects for Waterberg Prefeasibility

Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) has awarded the role of independent qualified person for its ongoing Waterberg prefeasibility study to DRA Mineral Projects (Pty) Ltd., a South Africa-based global engineering firm.

The company also announced the acceleration of drilling programs on its Waterberg Joint Venture and Waterberg Extension.

As quoted in the press release:

Based on a Preliminary Economic Assessment (‘PEA’) for the Waterberg Joint Venture filed on SEDAR on March 13, 2014, first production is planned for 2018. At steady state the project is modelled to produce 397,000 ounces of palladium per year with a 20 year plus mine life along with platinum, gold, rhodium and significant nickel and copper by-products (655,000 Pd, Pt, Au ounces /year steady state).

Platinum Group Metals President and CEO R. Michael Jones said:

We are very pleased to be working with DRA at Waterberg. DRA had a compelling bid for the work and we know the company very well as our engineering, procurement and construction manager for the ongoing build at our WBJV Project 1 (Maseve) platinum mine where approximately CAD $300 million in construction and development has been completed so far. DRA has done an excellent job managing to budget and schedule. Current site activities at Project 1 include mine construction and underground development involving over 1,600 people with planned production in the 4th quarter 2015. DRA has a strong team with local experience on the North Limb of the Bushveld and we know they have the ability to perform well at a large scale, as required at Waterberg, all the way into project execution.

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