Eastern Platinum Limited: More High Grade Platinum-Rhodium Rich UG2 Reef Intersections Reported at Spitzkop
30 Januar 2007 - 8:00AM
UK Regulatory
FOR: EASTERN PLATINUM LIMITED
TSX, AIM SYMBOL: ELR
January 30, 2007
Eastern Platinum Limited: More High Grade Platinum-Rhodium Rich UG2 Reef Intersections Reported at
Spitzkop
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 30, 2007) - Mr. Ian Rozier, President and CEO of
Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR), is pleased to report on the results from
the second batch of assay results received from infill drilling at the Spitzkop platinum group metals
("PGM") project in South Africa. Spitzkop, located near Steelpoort in Mpumalanga Province, is a high
grade, platinum and rhodium rich, shallow dipping, surface assessable PGM deposit.
The assay results reported reflect the high PGM grades and particularly the high platinum (56%) and
rhodium (8%) content of the UG2 reef at Spitzkop. The results continue to demonstrate that the UG2
reef is well developed across the Northern Block and that grades are consistent with previous work
reported by Eastplats and Impala Platinum. Also significant is the high proportion of platinum and
rhodium mineralization, confirming both the general high grade, and the platinum-rhodium rich nature
of the UG2 at Spitzkop.
As part of the feasibility study for Spitzkop, the objectives of the infill drilling program were to;
- Confirm the high platinum and rhodium grades reported previously;
- Demonstrate continuity of the UG2 reef across the property;
- Further delineate resource and reserve estimates; and
- Provide core samples for metallurgical and rock mechanics testing.
The data will be used for mine planning for the Northern Block at Spitzkop where the UG2 reef outcrops
on surface and extends to a depth of 350m at a dip of between 11 degrees and 14 degrees.
Drilling was conducted by Geosearch, a division Transbor (Pty) Ltd. On site geological work and
supervision was carried out by MSA Geoservices under the direction of Davminex Mineral Consultants
(Pty) Ltd. Assaying was being conducted by Set Point Laboratories, S.A.
A news release dated November 8th, 2006 reported the results of the first batch of assay results from
the infill drilling program at Spitzkop. For completeness, the results of Batch 1 and 2 are reported
in this release.
Assay results to date are reported from twenty-two (22) drill sites where the objective was to obtain
four reef intersections from each hole. Intersections of UG2 reef from the motherhole and two
deflections were usually sampled and sent for assaying. The intersected reef in the third deflection
of each hole will be subjected to metallurgical or rock mechanics testing.
It should be noted that in some instances where the reef was intersected at a shallow depth it was not
possible to insert the required number of wedges in the mother hole in order to achieve the required
number of reef intersections. In such cases the drill rig was successively moved approximately a metre
from the previous collar position and new holes were drilled from surface to obtain the required
number of reef intercepts. On rare occasions where core recovery of 100% was not achieved because of
either poor ground conditions or unacceptable drilling practice, in any reef intercept, the
intersection was repeated by completing another deflection. Thus, in some instances more than three
deflections had to be drilled to achieve to proper QA/QC.
The assay results are reported on a 4 ELEMENT basis ("4E"), with average "prill splits" being
expressed in percentage terms. For purposes of clarity, all the holes drilled are reported and if no
sampling or assaying was undertaken the reasons are provided.
A summary of drill/assay results is appended to this news release. With reference to the reported
results, the following should be noted;
- As stated, the reef widths are "intersected" widths.
- All holes are vertical.
- The UG2 at Spitzkop dips between 11 degrees and 14 degrees.
- The average metal contribution or "prill splits" for the above intersections are; Pt 55.7%; Pd
34.9%; Rh 8.3%; and Au 1.1%.
Further results from the Northern, Central and Southern Blocks will be reported when assay results are
available.
Spitzkop is envisaged to be a decline mining operation that will exploit high grade PGM resources at
relatively shallow depth without the requirement for high capital cost shaft mine infrastructure and
underground pre-production development. Spitzkop is situated updip of, and adjacent to, the Kennedy's
Vale project owned by Barplats Investments Limited ("Barplats"), in which Eastplats owns a 69%
indirect interest. Eastplats and Barplats are evaluating the cost benefits of combining Spitzkop and
Kennedy's Vale into an integrated mining operation accessing the shallow sections of both properties
through Spitzkop. The deeper sections of both properties could utilize the twin vertical shafts that
already exist at Kennedy's Vale to a depth of 1,000m. This infrastructure would result in a
significant reduction in capital costs for the development of the mine.
Eastern Platinum Limited trades on the TSX and AIM Stock Exchanges under the trading symbol ELR.
The qualified person having prepared the contents of this news release is Mr. Ian Rozier, B.Sc.(Hons),
M.Sc., P.Eng.
Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable Canadian securities legislation. These forward-looking statements are
based on certain assumptions by Eastplats and Barplats and as such are not a guarantee of future
performance. Actual results could differ materially from those expressed or implied in such forward-
looking statements due to factors such as general economic and market conditions, increased costs of
production and a decline in metal prices. Eastplats is under no obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise, except
as required by applicable laws.
/T/
APPENDIX
SUMMARY OF DRILL/ASSAY RESULTS
Depth to Top of Av. Grade Intersected Reef
Hole Number UG2 Reef (m) 4E(g/t) Width (m)
SP01 98.1 5.03 1.47
Defl.SP01-U2 97.9 6.00 1.00
Defl.SP01-U3 98.0 6.01 1.15
SP02 85.8 6.02 0.98
Defl.SP02-U1 85.9 6.00 1.00
Defl.SP02-U3 86.4 6.86 0.99
SP03 103.3 7.47 1.18
Defl.SP03-U2 103.6 5.72 1.12
Defl.SP03-U3 103.3 6.14 1.30
SP04 56.56 Not sampled- Reef faulted
SP05A 36.1 5.12 1.12
Defl.SP05B 37.5 3.16 0.45
Delf.SP05C Not sampled- Replacement Pegmatoid
Delf.SP05D Not sampled- Replacement Pegmatoid
SP06 Not sampled- Reef potholed to UG1
SP07 131.8 6.05 0.80
Defl.SP07-U2 10.73 0.61
Defl.SP07-U4 6.70 0.73
SP08 103.6 5.39 0.94
Defl.SP08-U2 6.57 1.03
Defl.SP08-U3 8.11 1.05
SP09 137.2 9.20 1.31
Defl.SP09-U3 6.26 1.28
Defl.SP09-U4 4.94 1.22
SP10 465.3 5.66 0.55
Defl.SP10-U4 458.7 8.34 0.63
Defl.SP10-U5 458.7 2.66 0.55
SP11 A 35.3 6.15 1.11
SP11 B 35.4 6.40 1.16
SP11 C 35.4 6.85 1.11
SP12A 53.0 Not sampled- Reef weathered
SP12 B 54.9 6.50 0.70
Defl.SP12 B-U3 54.3 7.41 0.94
Defl.SP12 B-U4 54.5 8.60 1.14
SP13 Not sampled- Dyke
SP14 3.0 Not sampled- Reef weathered
SP15 12.0 Not sampled- Reef weathered
SP16 97.5 7.10 1.37
Delf.SP16-U2 97.3 7.02 1.43
Defl.SP16-U3 97.6 5.45 0.96
SP17 419.1 7.64 1.42
Defl.SP17-U2 418.1 5.53 1.31
Defl.SP17-U3 418.0 6.58 1.34
SP18 465.0 5.47 1.88
Defl.SP18-U1 464.4 5.26 1.78
Defl.SP18-U2 464.7 5.35 1.74
SP19 392.9 5.87 1.21
Defl.SP19-U2 392.9 5.04 0.75
Defl.SP19-U3 394.4 6.98 1.08
SP20 Not sampled- Reef potholed
SP21 214.8 6.73 1.27
Defl.SP21-U2 215.0 4.58 1.09
Defl.SP21-U4 214.4 11.65 1.20
SP22 426.8 7.03 0.76
Defl.SP22-U2 426.7 11.57 0.74
Defl.SP22-U3 426.7 7.51 0.87
SP23 and SP24 Not sampled- Dyke
SP25 Not sampled- Reef potholed
SP26 Not sampled- Dyke
SP27 309.8 6.42 1.02
Defl.SP27-U1 309.8 6.07 0.85
Defl.SP27-U2 310.0 8.20 1.15
SP28 217.4 Not sampled- Core lost
Defl.SP28-U2 217.2 5.43 1.09
Defl.SP28-U3 217.7 5.65 1.25
Defl.SP28-U4 216.9 6.61 1.49
SP29 53.1 6.18 0.98
Defl.SP29-U2 53.2 7.22 1.33
Defl.SP29-U3 53.4 6.19 1.15
SP30 464.5 8.22 0.74
Defl.SP30-U1 464.4 7.41 0.71
Defl.SP30-U2 464.5 6.25 0.65
SP31 266.9 6.10 1.14
Defl.SP31-U1 267.0 4.57 1.13
Defl.SP31-U2 266.8 6.97 1.24
SP32 97.0 Not sampled- Reef faulted
SP33 92.6 5.47 1.04
Defl.SP33-U1 92.7 4.73 1.00
Defl.SP33-U2 96.6 6.06 1.05
/T/
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Eastern Platinum Limited
Mr. Ian Rozier, M.Sc., P. Eng.
President & C.E.O.
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com
Eastern Platinum Limited
Eastern Plat (LSE:ELR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Eastern Plat (LSE:ELR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Eastern Plat (Londoner Börse): 0 Nachrichtenartikel
Weitere Eastern Platinum News-Artikel