Major agreement with the Innu Council of Pessamit for an important mining development (04/05/10)

Two mining companies have joined forces to explore a site in the Quebec North Shore for pgms, it has been confirmed.

Argex Silver Capital and St George Platinum have agreed to identify deposits in zones of 45 sq km and 160 sq km respectively, before following up with an operating phase.

St George Platinum is hoping to gain access to platinum, palladium, rhodium, copper, nickel, cobalt and gold, while Argex is focused on securing titanium, iron and vanadium.

"Instead, we now demonstrate our full commitment to contributing towards the development of the territory as long as it is done in an environmentally sustained fashion and respectfully of our Aboriginal rights," said Raphael Picard, Chief of the Innu Council of Pessamit, which helped to establish the partnership.

Marathon PGM Announces New Geordie Lake Resource: Increased Metals, Grade and Tonnes (04/05/10)

Marathon has revealed that the resource estimate for its Geordie Lake PGM-Cu Deposit is much larger than it previously believed.

The company confirmed that the combined measured and indicated resource for the Marathon and Geordie Lake deposits is roughly 146 million tonnes, containing about 4.87 million ounces of pgms.

President and Chief Executive Phillip Walford said: "The Geordie Lake Deposit has the potential to extend the life of the nearby Marathon PGM-Cu project, which has a designed milling rate of eight million tonnes per year and an estimated mine life of 11.5 years."

Marathon Announces 2010 Q1 Financial Results (14/05/10)

Meanwhile, Marathon has completed the first phase of an initial drilling programme of 33 holes over 4,000m at the Leprechaun Gold Deposit, which is part of its Valentine Lake property.

The work "exceeded expectations" and returned several wide, high-grade intercepts, including 38.3g/t over 9m.

Absolute to change name to Bauba Platinum (17/05/10)

Absolute Holdings is set to purchase an effective 60 per cent stake in the Bauba platinum project, which is located in South Africa's Limpopo province.

The facility offers prospecting rights to eight farms with an initial resource estimate of 700 million tonnes, with the possibility of 100 million ounces of pgms.

Absolute, which will change its name to Bauba Platinum as part of the deal, revealed recently that it will commence drilling in seven to eight years' time.

Altered economics could put Munni Munni platinum group metals project back on track (18/05/10)

Platina Resources is planning to begin a diamond drilling programme at its Munni Munni pgm project in Western Australia, it has been confirmed.

Analysis has suggested that the Ferguson Reef section of the project could offer higher-grade results than the current measured, indicated and inferred resource.

At present, Munni Munni has a total resource of 23.6 million tonnes at 1.1g/t platinum, 1.5g/t palladium, 0.1g/t rhodium, 0.2g/t gold, 0.15 per cent copper and 0.09 per cent nickel.

The start of the diamond drilling and a new resource estimate are both expected to arrive in July, while a full feasibility study may be forthcoming later this year, Mineweb reports.

Pan African Resources ups Phoenix Platinum 4E PGM resource by 15.8% (20/05/10)

Pan African Resources has revealed that it has increased the resource statement for its Phoenix Platinum project in South Africa by 15.8 per cent.

The company announced that the site now offers 469,000 oz pgm 4E (platinum, palladium, rhodium and gold), with in-situ grade rising by 2.6 per cent to 3.15g/t pgm 4E.

As a result, the measured resource consists of 3.2 million tonnes at 3.09g/t pgm 4E for 321,000 oz, the indicated resource amounts to 618,000 tonnes at 3.2g/t pgm 4E for 63,000 oz and the inferred resource stands at 382,000 tonnes at 3.15g/t pgm 4E for 85,000 oz.

Pan African also confirmed that the upgrade extends the life of the project by three years to 16 years, assuming an annual production of 15,000 oz pgm 4E.

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