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Platinum Australia upgrades resource estimate at Kalahari project in South Africa

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Platinum Australia Ltd (ASX: PLA; AIM: PLAA) said the measured, indicated and inferred resource estimates for its Orion deposit at the Kalahari Platinum project (Kalplats) in South Africa have increased 13 percent to 2.72 million tonnes at 3.33 grams per tonne platinum, palladium and gold (3E) containing 291,000 ounces.

At the Crux deposit, the resource has risen 8 percent to 5.2 million tonnes at 2.59 grams per tonne platinum, palladium and gold containing 436,100 ounce ounces.

The new resource estimates include results from holes drilled late last year, which were not included in previous estimates.

The updated Crux and Orion deposits are two of seven deposits which make up the currently identified mineral resource in the Kalplats project.

Managing Director John Lewins said: “The updated resource continues to build our confidence in the Kalplats project and has increased the total high grade mineral resource at Kalplats to 3.2 million ounces 3E, with further updates on Sirius and Serpens North due by the end of this month (July).”

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