Southern Palladium presents First Merensky Reef assay results
Southern Palladium has released the initial Merensky reef (MR) grades on the Bengwenyama Platinum Group Metal (PGM) project located on the Eastern Limb of the world class Bushveld Complex, South Africa.
In total, 21 drillholes have now been completed to date (Appendix 1). Of these, the UG2 Reef has been encountered in 18 holes. Two appear to have been faulted out at the expected depth, and in one case the reef was not developed.
Of the 21 drillholes, eight were expected to intersect the MR as they were drilled east of the subcrop. Of these, six intersected the MR and two were faulted.
Assays received for the initial four Merensky reef intersections return positive results by confirming the presence of PGM mineralisation. Average Merensky 3PGE + Au grade is 2.30 g/t and 6PGE + Au grade is 2.56 g/t over an average sampled width of 197 cm.
Drill activities recommenced on 12 January after the Christmas break. Five rigs are currently operating on site and better productivity is already being seen, a result of measures taken during late 2022.
A total of 43 Merensky reef samples and 98 UG2 samples (including quality control and footwall samples) were collected and dispatched in late 2022, with results expected shortly.
Commenting on these results, Managing Director Johan Odendaal, said: “We are pleased to report that the first assays for initial four Merensky Reef intersections returned positive results, with confirmation of PGM mineralisation and prill splits (ratio of PGE’s and gold) that have a higher platinum-to-palladium ratio when compared to the UG2 reef. The PGM mineralisation observed further supports the conclusions in our recently completed Scoping Study, where the shallower Merensky reef was recommended for potential future development in addition to the UG2 reef (refer ASX Announcement 24 January 2023). The potential inclusion of the MR for economic resource extraction increases the project’s broader upside potential, and may significantly extend the life of the mine in the area now earmarked for mining.”
INITIAL MERENSKY REEF RESULTS
The first Merensky reef assay results for drillholes E004, E028, E030 and E031 have been received from the accredited ALS laboratory in Johannesburg. The average sampled width for the four drillholes is 197 cm with a 3PGE+Au grade of 2.30 g/t and 6PGE+Au grade of 2.56 g/t.
This is in line with the reef widths of the compliant inferred Mineral Resource Estimate (MRE) which has an average reef width of 191 cm. The grade, which has sampled only a small percentage of the lease area, is slightly lower than the inferred MRE of 2.96 g/t.
