Platinum Australia announced today (14th April) that it has increased the platinum, palladium and gold resource at its Kalahari project in South Africa by 160 per cent.

The company confirmed that its measured, indicated and inferred resource estimate at the Crater deposit has risen by 26.2 million tonnes at 2.04 g/t 3E pgm, containing 1.72 million ounces of the metals.

Furthermore, the developments mean that there is now a total mineral resource at Kalahari of 5.2 million ounces 3E pgm, with the high-grade resource growing to 2.48 million ounces.

The updated figures come after the company decided to conduct a number of drilling assignments late last year at Crater, which is one of seven deposits comprising the identified mineral resource.

Platinum Australia Managing Director John Lewins said: "The updated resource for the Crater deposit is considered very significant, not only because it increases the total ounces of 3E in the deposit by over 150 per cent, but also that the overall grade has increased almost 25 per cent."

Mr Lewins also revealed that the company expects the resource to be increased further when updates on Vela, Crux Orion and Serpens North are completed in the next few months.

Platinum Australia announced last month that operations at the open pit mine of its Smokey Hills project will open in June following successful plant commissioning.

Sources:

KALAHARI PLATINUM PROJECT NEW MINERAL RESOURCE ESTIMATE INCREASES THE TOTAL CONTAINED 3E (platinum + palladium + gold) OUNCES IN THE CRATER DEPOSIT BY 160% TO 1.77 MILLION OZS 3E (14/04/09)
http://www.gtp.com.au/platinumaus/inews_files/ASX0894JDL_140409.pdf

Platinum Australia up on Kalplats resource upgrade (14/04/09)
http://www.thewest.com.au/default.aspx?MenuID=3&ContentID=135992

SMOKEY HILLS UPDATE (18/03/09)
http://www.gtp.com.au/platinumaus/inews_files/ASX0891JDL_180309.pdf