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Platina Resources Limited (PGM)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Platina Resources Limited
Platina Resources Limited is an Australian resource company focused on the exploration and development of a global portfolio of precious and specialty metal projects. Platina has been listed on the ASX since May 2006 (ASX ticker: PGM) and is based on the Gold Coast, Australia.
Platina’s core focus is its 100%-owned Owendale Scandium, Cobalt, Platinum and Nickel Project in central New South Wales, Australia. The project continues to demonstrate its potential to become Australia’s dominant producer of scandium with a shallow depth allowing open-pit mining, exceptionally high scandium grades and appreciable cobalt, platinum and nickel credits.
Platina aims is to create shareholder value by advancing Owendale into production as rapidly as possible.
They also have 100% ownership of the Skaergaard gold and platinum group metals (PGM) project in Greenland, which hosts one of the world’s largest undeveloped gold deposits and largest resources of palladium outside of South Africa and Russia.
- Potential to become Australia’s first scandium producer with platinum credits
- Capital cost estimate of A$73.5 million
- Life of mine all-in cash costs estimated at A$598 per kilo scandium oxide
The Owendale Project is 80km northwest of Parkes and 350km west of Sydney in central New South Wales. It is one of the world’s highest grade and largest tonnage laterite-hosted scandium deposits, and has the potential to become Australia’s first scandium producer with cobalt, platinum and nickel credits.
Platina completed an updated Mineral Resource estimate for Owendale in February 2017 to incorporate results of re-assaying of samples and previous XRF assays.
The updated Mineral Resource statements include:
At a cut-off of 300 ppm Sc, the scandium Mineral Resource is:
- Measured Mineral Resource 4.4 Mt @ 405 ppm Sc
- Indicated Mineral Resource 6.4 Mt @ 380 ppm Sc
- Inferred Mineral Resource 17.1 Mt @ 385 ppm Sc
- Total Mineral Resource 27.9 Mt @ 385 ppm Sc
- Containing a total in-situ content of 16,500 tonnes of scandium oxide
At a higher cut-off of 600 ppm Sc, the scandium Mineral Resource is:
- Measured Mineral Resource 0.12 Mt @ 655 ppm Sc
- Indicated Mineral Resource 0.12 Mt @ 660 ppm Sc
- Inferred Mineral Resource 0.44 Mt @ 645 ppm Sc
- Total Mineral Resource 0.68 Mt @ 650 ppm Sc
- Containing a total in-situ content of 670 tonnes of scandium oxide
At a separate cut-off of 0.1% Co, the cobalt Mineral Resource is:
- Measured Mineral Resource 2.3 Mt @ 0.17% Co
- Indicated Mineral Resource 2.3 Mt @ 0.15% Co
- Inferred Mineral Resource 4.4 Mt @ 0.13% Co
- Total Mineral Resource 9.0 Mt @ 0.15% Co
- Containing a total in-situ content of 13,200 tonnes of cobalt
Capital costs are estimated to be A$73.5 million with all-in operating cost estimate of A$598 per kilogram of scandium oxide produced. Platina plans to undertake further drilling at Owendale in 2017 while continuing work on a Feasibility Study for the project, due in early 2018. Platina hopes to secure an off-take agreement to enable the development of Owendale.
- One of the world’s largest undeveloped gold deposits
- One of the largest known palladium resources outside South Africa and Russia
Skaergaard is located on the east coast of Greenland, approximately 400km west of Iceland. It is one of the world’s largest undeveloped gold and palladium resources and has in Indicated and Inferred Mineral Resource Estimate, reported in accordance with the JORC Code (2012) of 203Mt at 0.88g/t gold and 1.33g/t palladium at a 1g/t gold equivalent (AuEq) cut-off grade and minimum mining thickness of 1m.
The Skaergaard licence was renewed for a further three years in late 2016 and Platina plans to undertake a program development review and site visit to Skaergaard in 2017.
- Measured, Indicated and Inferred Mineral Resource
- Located in proximity to town and port infrastructure
Situated in the Pilbara region of Western Australia, the Munni Munni Complex is one of Australia’s most significant PGM occurrences and has a Measured, Indicated and Inferred Mineral Resource of 23.6Mt at 1.1g/t gold and 1.5g/t platinum using a cut-off of 1.9g/t PGM + Au (SRK 2002 and Snowden 2003).
In 2015, Platina entered into a binding agreement with Artemis Resources providing for Artemis’ subsidiary Karratha Metals Pty Ltd to earn a 70% interest in the Mining Leases held by Platina by expending $750,000 in exploration over a three-year period.
- 207km2 of highly prospective exploration ground
- Licence surrounds Skaergaard project area
Qialivarteerpik is located on the east coast of Greenland and comproses the potential north-east extension of the Skaergaard project. Qialivateerpik contains two significant prospecting regions, the Miki Fjord Dyke and the Sortekap Greenstone Belt.
Platina Resources Limited
Level 2, Suite 9
389 Oxford Street
Mt Hawthorn, WA
+61 7 5580 9094
Fax: +61 8 9380 6761
The General Overview, Services, Products and Projects information for this profile was last edited on 01 Aug 2017.