London, England — MININGREVIEW.COM — 17 March 2009 – Chromex Mining plc – an AIM-listed chrome company – has been granted platinum group metals and gold mining rights at its Stellite chrome project on western limb of the Bushveld complex.
A statement released here confirmed that the company had received a positive amendment to its mining right over the 271 hectare farm Stellite 255JQ – located on the western limb of the Bushveld complex – to include platinum group metals and gold.
The company is currently mining chrome at the 32 million-tonne Stellite mineral resource, and the amendment opens the way for Chromex to extract PGM’s and gold from the Stellite plant tailings stream. This is a recognised process which, if grades permit, is proven to add value to chrome projects.
The statement revealed that middle group chromite horizons have indicated encouraging PGM and gold grades for future extraction. Importantly, the presence of PGE might substantially improve the economics of the lower grade reefs.
It added that Chromex intended to conduct a series of tests on the tailings streams arising from each of the respective MG horizons, in order to determine the economics of adding a PGE flotation treatment plant to the gravity concentration plant currently under construction.
Chromex CEO Russell Lamming said, “The grant of the PGM rights adds another string to our bow at Stellite. We have been encouraged by results from early test work and look forward to developing our understanding of the economics of PGM extraction and treatment, which we expect will further underpin the already robust economics of the Stellite chrome project,” he added.