Skaergaard Project Update - Additional Information
Brisbane, May 1, 2012 AEST (ABN Newswire) - Platina Resources Limited (
ASX:PGM) refers to the ASX release on the 26th of April, 2012 entitled "Updated Inferred Mineral Resource for the Skaergaard Gold & PGM Project, Greenland.", and the use of a 1.5g/t gold equivalent (AuEq) cut-off for the high-grade domains. The following additional information is hereby presented:
The AuEq value was calculated as AuEq = Au + (Pd * 0.4), where metal per element is reported in g/t and based on price assumptions of $US1,400 oz Au, $US1,400 oz Pt and $US560 oz Pd and recoveries of 100%. The contained metal and (troy) ounces lie wholly within the Resource boundaries, and it is the Company's opinion that all elements included in the calculation of the gold metal equivalent (i.e., gold, palladium and platinum) have a reasonable potential to be recovered.
About Platina Resources Limited
Platina Resources Limited (ASX:PGM) (OTCMKTS:PTNUF) is an Australian-based company focused on returning shareholder value by advancing early-stage metals projects through exploration, feasibility, permitting and into development.
The Company has interests in the following projects:
- Platina Scandium Project (100% interest) - located in central New South Wales, the project is one of the largest and highest-grade scandium deposits in the world, which has the potential to become Australia's first scandium producer with cobalt and nickel credits. A Definitive Feasibility Study was completed in late 2018 demonstrating the technical and economic viability of constructing the project. The Company is now focused on completing the permitting and securing offtake and financing.
- Skaergaard (100% interest) - One of the world's largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia, located in Greenland;
- Munni Munni (30% interest) - Situated in the Pilbara region of Western Australia, the project is one of Australia's most significant Platinum Group Metal occurrences. Munni Munni also has potential for conglomerate hosted gold and is a Joint Venture with Artemis Resources Limited; and
- Blue Moon (to earn a 70% interest) - Located in California, U.S.A, the project is subject to a Nl 43-101 Mineral Resource estimate. The resource is open at depth and along strike and has favourable metallurgy.
For more information please see: https://www.platinaresources.com.au
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