BoostsPantonResourceby33%&UnveilsMajMetallurgicalBreakthroug
Document date:
Tue 30 Apr 2002
Published:
Thu 02 May 2002 00:00:00
Document No:
215321
Document part:
B
Market Flag:
Y
Classification:
PLATINUM AUSTRALIA LIMITED 2002-04-30 ASX-SIGNAL-G
HOMEX - Perth
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APPENDIX 1
RESOURCE STATEMENT
The mineral resources at Panton Project have been estimated by
independent consultants, Snowden Mining Industry Consultants Pty Ltd
and independently audited by Lonmin Platinum.
The Resource is based on data from 191 PLA drill holes and 10
trenches. Almost all drill holes are diamond core holes, virtually
all of which had core recoveries of 100%. All holes were accurately
surveyed in three dimensions at surface and downhole. Mineralised
core was sawn longitudinally and half core despatched for assay at an
independent analytical laboratory with PGM assay expertise accepted
by the PGM industry. Assaying was subjected to precision and accuracy
checks on a systematic basis. Individual assays within the resource
show little variation with a maximum single assay of 19.2 g/t PGM +
Au.
The geological interpretation of the mineralized zones was carried
out by Snowden Mining Industry Consultants in conjunction with PLA's
geological staff. Continuity of grade and lithology of the Chromitite
Resource zones is well established by drilling, surface mapping and
underground mapping.
The mineral resource was estimated using ordinary Kriging for grade
and thickness for the Measured category and ordinary Kriging or
Inverse square distance weighting for the Indicated and Inferred
categories for tonnes and Pt, Pd and Au average grade.
CHROMITITE RESOURCE BY CLASS (Top and Middle Reefs)
TOP REEF
CLASS MILLION PGM + Au Pt Pd Au Ni Cu
TONNES g/t g/t g/t g/t % %
Measured 4.5 5.8 2.4 2.7 0.5 0.3 0.1
Indicated 3.0 6.9 2.8 3.3 0.5 0.3 0.1
Inferred 3.1 4.7 2.0 2.2 0.4 0.3 0.1
Total 10.6 5.8 2.4 2.7 0.4 0.3 0.1
MIDDLE REEF
CLASS MILLION PGM + Au Pt Pd Au Ni Cu
TONNES g/t g/t g/t g/t % %
Measured 2.3 3.3 1.6 1.2 0.1 0.2 0.04
Indicated 1.7 4.0 2.0 1.5 0.1 0.2 0.05
Inferred 1.8 2.8 1.3 1.1 0.1 0.2 0.04
Total 5.7 3.4 1.6 1.3 0.1 0.2 0.04
TOTAL TOP & MIDDLE REEFS
CLASS MILLION PGM + Au Pt Pd Au Ni Cu
TONNES g/t g/t g/t g/t % %
Measured 6.8 5.0 2.1 2.2 0.4 0.2 0.07
Indicated 4.6 5.9 2.5 2.6 0.4 0.2 0.08
Inferred 4.9 4.0 1.7 1.8 0.3 0.2 0.08
Total 16.3 4.9 2.1 2.2 0.3 0.2 0.08
DUNITE RESOURCE BY CLASS (above 0.7 g/t PGM & Au)
CLASS MILLION PGM + Au Pt Pd Au Ni Cu
TONNES g/t g/t g/t g/t % %
Measured 35.8 1.0 0.4 0.4 0.1 0.2 0.07
Indicated 5.9 1.0 0.4 0.5 0.1 0.2 0.08
Inferred 17.2 1.0 0.4 0.5 0.1 0.2 0.08
Total 58.9 1.0 0.4 0.5 0.1 0.2 0.08
OVERALL RESOURCE
MILLION PGM + Au Pt Pd Au Ni Cu
TONNES g/t g/t g/t g/t % %
Total 75.2 1.9 0.8 0.9 0.1 0.2 0.04
STATEMENT OF QUALIFICATION
The information in this report that relates to Mineral Resources is
based on a resource estimate compiled by Mark Murphy who is a member
of the Australian Institute of Geoscientists. Mark Murphy is employed
by Snowden Mining Industry Consultants. Mark Murphy has sufficient
experience which is relevant to platinum mineralisation and resource
estimation to qualify as a competent Person as defined in the 1999
Edition of the "Australasian Code for Reporting of Mineral Resources
and Ore Reserves" (the JORC Code). Mark Murphy consents to the
inclusion in this report of the Information, in the form and context
in which it appears.
BACKGROUND INFORMATION
* PLATINUM GROUP METALS (PGMs)
The six Platinum Group Metals are Platinum (Pt), Palladium, (Pd),
Rhodium, (Rh), Iridium (Ir), Osmium (Os) and Ruthenium (Ru).
Platinum and palladium have the greatest economic importance and are
found in the largest quantities. The other four - rhodium, ruthenium,
iridium and osmium - are produced only as co-products of platinum and
palladium and are never likely to be mined for their own sake.
The unique properties of the PGMs make them essential for a wide
range of important applications. PGMs are used as autocatalysts for
the control of vehicle pollution, in jewellery, in alloys for dental
restorations, as catalysts for chemical synthesis and in electronics.
* Platinum and Palladium are soft, ductile and resistant to oxidation
and high temperature corrosion. They have widespread catalytic uses.
* Rhodium and Iridium are difficult to work, but are valuable alone
as well as in alloys. Their chemical compounds have many uses, and
rhodium is a particularly good catalyst.
* Ruthenium and Osmium are hard, brittle and almost unworkable in the
metallic state, with poor oxidation resistance, but are valuable as
additions to other metals, usually other PGMs, and as catalysts.