South Africa – SRK Consulting (South Africa) conducted the estimate which includes a total measured and indicated mineral resource of approximately 13.7 Mt containing 535 520 oz of combined platinum group elements (platinum, palladium and rhodium) at an average grade of 1.218 g/t, 3 404 oz of gold at an average grade of 0.008g/t and 2.8 Mt 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 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.
The model validations included visual validations of the estimates and global statistical comparisons of the data in the tailings volume occurring in TSF.
Within the tailings volume, the general trend of the 1.5 m samples in each vertical layer (interval) is honoured by the estimates. SRK finds that overall the estimates are consistent with the source data and adequately model the grade distributions.
The confidence in the Zandfontein TSF mineral resource estimate by SRK indicates that it can be used for a pre-feasibility study or feasibility study.
SRK has recommended that a pre-feasibility or feasibility study be undertaken to determine whether the mineral resource can be mined economically in the current market environment. The mineral resource estimate conforms to the requirements of NI 43-101 standards of disclosure for mineral projects.
Eastplats is currently investigating various areas of the tailings project at CRM and has advanced significant work in preparing a feasibility study. Once completed, the company will announce its assessment in a NI 43-101 compliant technical report.