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Platinum Group Metals Reports on Maseve Mine Operations
Jun. 09, 2017 08:23AM PST
Precious Metals Investing
Platinum Group Metals (TSX:PTM)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) reports that during May 2017 the Maseve Mine produced approximately 2,480 ounces of platinum, palladium, rhodium and gold (“4E”) in concentrate. Production is increasing and May 2017 was the best monthly level achieved since commissioning; however, ramp-up continues to be behind schedule. Further improvement in the …
Platinum Group Metals (TSX:PTM)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) reports that during May 2017 the Maseve Mine produced approximately 2,480 ounces of platinum, palladium, rhodium and gold (“4E”) in concentrate. Production is increasing and May 2017 was the best monthly level achieved since commissioning; however, ramp-up continues to be behind schedule. Further improvement in the ramp-up rate and effective mining grade is required.
Mining and Milling Overview
Delivered tonnes from Block 11 increased in May 2017 to almost 37,000 tonnes. Of the tonnes delivered from Block 11, approximately 50% were from on reef development to further open Block 11. Development tonnes have the effect of reducing overall delivered head grade. Overbreak in mechanized stopes continues to be a focus area for improvement.
Company engineers are developing plans towards the commencement of hybrid mining in Block 11. Hybrid mining consists of trackless development and conventional breasting as the mining method; conventional breasting allows for better grade control by reducing overbreak and off reef mining. Grades sampled in the mining faces and from the boreholes in Block 11 are in the range expected from the resource model.