Nkwe Platinum Limited is on course to become a PGM producer, it has been revealed.

The Australian platinum exploration and development company achieved better-than-expected assay results from drilling at its South African platinum projects, and as a result is of the belief that it is in line to fulfil its aforementioned ambition.

Nkwe Platinum hopes to secure a mineralisation base in excess of 100 million ounces 3PGM+Au across its projects (Nkwe share), and believes that this is feasible given recent indications.

The potential size and quality of the platinum assets is the primary indicator which suggests the company will be able to become an independent PGM producer.

Highlights of the results include Continued High grade UG2 results, averaging 7.63g/t 3PGE+Au over 65cm plus intersections.

Meanwhile, the Merensky Reef is averaging 2.55g/t 3PGE+Au over the full Merensky width averaging 255cm plus Merensky intersections.

A resource definition is due to be completed by April 2008.

Source:

Drilling Results, 13/03/08
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