New platinoids deposit discovered (20/12/10)

Russia's Kola Peninsula was the site of the discovery of an estimated 500 tons of platinoid metals recently, 350 of which can be quarried from open cast mines.

Geologists at the location, which lies between the White Sea and the Barents Sea, made the find which has an estimated value of around $27 billion (£17 billion).

It was announced to Russia's government commission on innovation by Vladislav Panchenko, head of the Fundamental Science Foundation, which funds geological exploration in the area.

New gold and platinum fields found in Azerbaijan (25/12/10)

A "rich field of gold" and platinum has been discovered in Azerbaijan, which the country's minister of ecology and natural resources described as a "concrete contribution" to Azerbaijan's revenues.

"According to recent reports, there is evidence of the presence of platinum and other precious metals in the Shamkir field," the minister told journalists.

The only gold producer in Azerbaijan, Anglo Asian Mining Plc, currently holds the rights to develop six fields, and estimates that it will produce more than 3,000,000 oz of gold at its Gedabey field by 2015.

Between January and November 2010, 1.7 tons of gold and a ton of silver were produced in Azerbaijan.

Pure Nickel's Alaska results indicate platinum palladium horizons (11/01/11)

Pure Nickel Inc has claimed success in its most recent exploration season in MAN, Alaska, which revealed stratiform platinum group element (PGE) horizons and intersections of high-grade nickel-copper massive sulphide.

Currently, analysis suggested that platinum and palladium are present at the company's Alpha and Beta Complexes.

The property is under a joint venture agreement with the Tokyo-based ITOCHU Corporation, which could earn up to 75 per cent by paying $40 million (£25 million) of exploration expenditures by 2013.

"The geochemistry of the drill core is starting to reveal that PGE mineralised horizons are present and that they are remarkably similar to that of the PGE-bearing reef environments seen elsewhere in the world," said Dr Larry Hubert, chief consulting geologist at the MAN project.

Notable features of the 2010 drill programme included two discrete PGE-enriched horizons in the Alpha Complex and a thick disseminated sulphide horizon, a feature of environments that host reef type PGE mineralisation.

"Every year of exploration advances our understanding of this vast property and continues to show increasing evidence of economic precious and base metals mineralisation," added Pure Nickel president David McPherson.

Nkwe share trading set to resume next week (13/01/11)

Platinum developer Nkwe announced this month that it expected to resume share trading on January 17th, following a voluntary suspension in December when its partner, Genorah Resouces, had its prospecting rights at two sites on the Tubatse project taken away.

Nkwe, which has a 64 per cent interest in the Tubatse project, said it has "back-to-back" arrangements with Genorah to protect its holdings on the Nooitverwacht and Eerste Geluk farms.

Anglo Platinum has also launched an administrative process by applying to the Department of Mineral Resources to review the nine farms of the Modiwa deeps under the Promotion of Administrative Justice Act.

"From Nkwe's perspective, the matter in respect of Nkwe's five farms was settled in February 2008, with an agreement made between Anglo Platinum, African Rainbow Minerals, Genorah Resources, Nkwe Platinum and the DMR," commented Peter Landau, executive director of Nkwe.

The company aims to achieve a minimum production of 600,000 oz of pgms from the Garatau and Tubatse projects.

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