Nkwe Platinum has revealed that it remains on track to achieve its long-term target of producing one million pgm ounces per year.

The company confirmed on Friday (31st July) that its flagship Tubatse-Garatau project contains a 68.9 million-ounce joint ore reserve committee resource.

Recent drilling programmes at the Hopenkrantz farm section of the site - which is located on the Bushveld Complex in South Africa - have also boosted the figure.

According to a statement from the firm, a resource of 24.88 million ounces was established, featuring an average grade of 4.95g/t 3E + Au from 156 million tonnes.

As a result, the new estimated inferred resource is 45.3 million ounces, up from 20.4 million ounces - meaning Nkwe is bullish about its production potential.

"With Nkwe continuing with its bankable feasibility study and a resource base of almost 70 million ounces, the company is well placed to deliver on its stated objective of developing a one-million-ounce-a-year pgms project, making it one of the biggest pgm projects in the world," it commented, according to Mining Weekly.

The company also noted that the inferred resource accounted for both the Merensky and UG2 reefs, which feature on all three farms covered by the Tubatse project.

Nkwe Platinum currently has five core project areas located on the Bushveld Complex.

Source:

Nkwe boosts resource base at SA platinum project (31/07/09)

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