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Eastplats Reports Mineral Resource Estimate for Barplats Zandfontein UG2 Tailings Storage Facility
Aug. 11, 2017 08:36AM PST
Precious MetalsEastern Platinum (“Eastplats” or the “Company”) is pleased to report that the mineral resource estimate by SRK Consulting (South Africa) Pty Ltd (“SRK”) on the Barplats Zandfontein UG2 tailings storage facility (“TSF”) located at Crocodile River Mine (“CRM”) has been completed and is effective as of August 1, 2017. A total measured and indicated mineral resource …
Eastern Platinum (“Eastplats” or the “Company”) is pleased to report that the mineral resource estimate by SRK Consulting (South Africa) Pty Ltd (“SRK”) on the Barplats Zandfontein UG2 tailings storage facility (“TSF”) located at Crocodile River Mine (“CRM”) has been completed and is effective as of August 1, 2017.
A total measured and indicated mineral resource of approximately 13,680,000 tons containing 535,520 ounces of combined platinum group elements (platinum, palladium and rhodium) (“PGE”) at an average grade of 1.218 g/t, 3,404 ounces of gold at an average grade of 0.008g/t and 2,834,000 tons of chromium oxide at an average grade of 20.72%.
The resource estimate for the TSF has a high level of confidence, with 91.3% of the estimate falling into the measured category and 8.7 % falling in the indicated category.
In the opinion of SRK, the resource evaluation reported herein is a reasonable representation of the in-situ 3E PGEs, gold and chromium oxide mineral resources found in the TSF at the current level of sampling and validation.