Platinum Group Metals has delivered new drill intercepts of the thick “Super F” “3E” platinum palladium and gold mineralization extending the Waterberg deposit and a new discovery 16 kilometers north from the Waterberg Joint Venture in the northern part of the permit area.
These exploration results may affect the scale of the mine plans outlined in the preliminary economic assessment (PEA) for the Waterberg Joint Venture, the NYSE- and TSX-quoted company said in a statement. The recently completed PEA recommended the project advance to the pre-feasibility stage. Budgets and programs for this work are being developed by partners the Japan Oil, Gas and Metals National Corporation (JOGMEC), Platinum Group Metals and Mnombo, a private empowerment partner.
Construction and development by subsidiary operating company Maseve on WBJV Project 1 is also proceeding well, the company reported. “Since January 2014 activities have been ramping up. There are approximately 1 300 persons on site with a 500 person underground development team active on the project. Development continues on accessing Merensky reef blocks.
“Recent milestones include the completion and commissioning of two vent raises, the advancement of mill foundations above ground and the ordering of mill structural steel. Procurement and delivery of major components is on schedule.”
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