Wrap Text
First UG2 Assays from Bengwenyama return Strong Results
Southern Palladium Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 646 391 899
ASX share code: SPD
JSE share code: SDL
ISIN AU0000220808
(“Southern Palladium” or “the Company”)
First UG2 Assays from Bengwenyama return Strong Results
Key highlights:
• Drillhole E019A, E058 and E062 UG2 assay results return a weighted average 4E PGM grade of
8.73 g/t over an average sampled width of 77 cm
• Observed grades exceed the grade level (7.70 g/t) applied in the JORC-2012 compliant Inferred
Mineral Resource
• The prill splits are also as expected, comprising 44.3%: 45.1%: 9.1%:1.5% for Pt: Pd: Rh: Au
• The drill programme is ongoing, with further assay samples for the E019A Merensky Reef now
anticipated
• Investor Briefing with Managing Director Johan Odendaal scheduled for 3pm (Australian Eastern
Daylight Time) on Thursday 17 November 2022
Southern Palladium (ASX:SPD, ‘Southern Palladium’ or ‘the Company’) is pleased to release the first assay
results for the UG2 reef on the Bengwenyama Platinum Group Metal (PGM) project located on the Eastern
Limb of the world class Bushveld Complex, South Africa.
The assay results for drillhole E019A, E058 and E062 have been received from ALS in Johannesburg. The
composited samples of the UG2 reef intersections are shown in Table 1. The average sampled width is 77
cm with a 4E grade of 8.73 g/t. This is more than the grade and reef widths set out in the compliant Inferred
Mineral Resource which has an average reef width of 71 cm and 4E grade of 7.70 g/t. In addition, the
anticipated prill split of 44:44:10:2 for Pt:Pd:Rh:Au has also been confirmed with these initial results.
UG2
BHID From (m) To (m) sampled Pt (g/t) Pd (g/t) Rh (g/t) Au (g/t) 4E (g/t)
width
(cm)
E062 31.25 32.3 105 3.47 3.33 0.74 0.08 7.62
E058 140.86 141.31 45 4.63 5.37 0.86 0.23 11.09
E019A 315.83 316.64 81 3.97 3.92 0.81 0.13 8.83
Weighted Average 77 3.87 3.94 0.79 0.13 8.73
Prill Split (%) 44.3 45.1 9.1 1.5 100
Table 1. Summary of the First Assay Results for Drillholes E019A, E058 and E062
Commenting on the UG2 intersection, Managing Director Johan Odendaal, said: “These initial assay results
mark another milestone for the Bengwenyama exploration programme, and underpin our belief that the
project holds significant potential. The results confirm the consistency of reef grade and width which is
characteristic of the Bushveld Complex – the largest source of platinum and palladium ores in the world. The
weighted average 4E grade of 8.73 g/t exceeds the grading level applied in the existing Inferred Mineral
Resource (7.70 g/t), and is at the high-end of the UG2 Exploration Target range (5.9 g/t – 8.9 g/t) for an
expansion of the Inferred Resource outlined in the Company prospectus. As well as advancing the resource
potential of Bengwenyama, these results also bolster the project’s attractive cost metrics. All capital spend
is allocated directly for the purpose of increasing our confidence in the orebody. Limited discovery drilling is
required which significantly reduces the discovery cost per ounce as Southern Palladium advances its
exploration programme on time and on budget.”
Investor Briefing
In connection with this ASX Announcement, Southern Palladium will also be hosting an Investor Briefing at
3PM AEDT on Thursday 17 November 2022. Managing Director Johan Odendaal will discuss the latest
announcement and answer questions from investors.
For anyone wishing to attend the Investor Briefing, please register using the link below.
Register via: https://register.gotowebinar.com/register/1026888212357624077
Assay Results
The average seam width of 77cm is both in excess of the 71cm width used in the JORC-2012 Inferred Mineral
Resource estimate, and consistent with the seam widths mined by South African PGM companies operating
throughout the Central Eastern Limb of the Bushveld Complex.
Samples were taken in 20cm increments unless geology dictated for a larger sample size. These samples
were composited for a total sampled reef grade and width. A sample was also taken in the hanging wall and
footwall of the UG2. The initial results show that the hanging wall is not mineralised, but the footwall is
mineralised and does carry grade. The footwall samples for drillhole E058 and E019A have returned
composited 4E grades of 0.87 g/t and 1.56 g/t respectively.
What was believed to be the footwall sample for drillhole E062 is in fact a weathered gradational bottom
reef contact of the UG2 reef, containing significant disseminated chromite within a pegmatoidal pyroxenite,
which makes the UG2 reef for E062 wider than initially interpreted. The footwall of the UG2 reef for drillhole
E062 will be sampled shortly. Going forward additional footwall samples will also be taken for mining cut
purposes.
Distribution of the assay results over sampled width are shown in Figure 2:
Figure 2: Assay Result Locations
Pt, Pd and Au are analysed using lead fire assay with ICP-AES finish with a 30g aliquot. Rh is analysed
separately by fire assay, gold collection and ICP-MS finish with a 30g aliquot. These are combined for the
4E grade.
The 6E (Platinum, Palladium, Rhodium, Iridium, Ruthenium and Osmium) grades are still pending and use a
different method using the nickel sulphate fire assay procedure. The 6E results will be compared to the 4E
results once received. We are currently awaiting the Cr, Ni and Cu analysis from the laboratory.
The by-products PGMs, Base Metals and Chrome are important sweeteners to the bottom line. The price
of iridium dramatically increased since the start of 2021 as a result of supply shortages combined with its
prospective use to produce green hydrogen.
The results of the Merensky Reef samples (for E019A) are eagerly awaited, as well as the check samples for
the UG3 and UG1 chromitite layers. The UG3 and UG1 samples are, however, check samples as these
chromitite layers generally don’t carry significant PGEs. The stratigraphic position of these chromitite layers
is shown in figure 3.
The drilling programme is ongoing and samples are sent to the assay lab in three to four week intervals.
Assay results are then received after approximately four to six weeks.
Figure 3: Preliminary Project Stratigraphic Column between the Merensky Reef (MR) and UG1 Chromitite layers
This announcement has been approved for release by the Board of Southern Palladium Limited.
About Southern Palladium:
Southern Palladium Limited (ASX:SPD, JSE:SDL) is a dual-listed platinum group metal (PGM) company
developing the advanced Bengwenyama PGM project, particularly rich in palladium/rhodium, in South
Africa. The project is located on the Eastern Limb of the Bushveld Complex, which contains more than
70% of the world’s known Platinum Group Metal (PGM) Resources.
With its 70% stake in the project, the Company’s focus will be on the delivery of a Pre-Feasibility study
and Mining Right application through a geophysical survey that has recently been completed, a two-
phase diamond drill programme which commenced in August 2022 as well as various technical studies to
be completed.
A major development opportunity in the global PGM market, previous exploration at Bengwenyama has
already delivered a JORC 2012-compliant Inferred Mineral Resource of 18.8Moz within two ore horizons
– the UG2 chromitite and Merensky Reef. In addition, an assessment by mining industry consultants CSA
Global assessed the total resource potential of Bengwenyama for the two ore horizons at between 134–
201Mt at a grade of 3.5–5.2 (3 PGE + Au g/t). The Company is led by an experienced on-ground
management team including some of South Africa’s most high-profile mining industry executives.
JORC Statement
The information in this report that relates to Mineral Resources at the Bengwenyama Project is based on
details originally reported in the Independent Technical Assessment Report (ITAR) No. R246.2021 prepared
by CSA Global dated 19 April 2022 contained in the Company’s Prospectus and Pre-Listing Statement dated
22 April 2022. The information in the ITAR that relates to Technical Assessment of the Mineral Assets,
Exploration Targets, or Exploration Results is based on information compiled and conclusions derived by Dr
Brendan Clarke, a Partner and an employee of CSA Global. The information in the ITAR that relates to
Mineral Resources is based on work undertaken by Anton Geldenhuys, a Principal Consultant and employee
of CSA Global. The Prospectus containing the ITAR can be found on the Company’s website at:
https://www.southernpalladium.com/site/investor-centre/prospectus
The Company confirms that it is not aware of any new information or data that materially affects the
information included in the ITAR. The Company also confirms that all material assumptions and technical
parameters underpinning the estimates in the ITAR continue to apply and have not materially changed. In
addition the Company confirms that the form and context in which the Competent Person’s findings are
presented have not been materially modified.
Competent Person Statement
The scientific and technical information contained in this announcement has been reviewed, prepared and
approved by Mr Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, FGSSA).
Mr Engelmann is a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural
Scientific Professions, and has sufficient experience relevant to the styles of mineralisation and activities
being undertaken to qualify as a Competent Person, as defined in the 2012 Edition of the ‘Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Engelmann has a beneficial
interest in Southern Palladium through a shareholding in Nicolas Daniel Resources Proprietary Limited.
For further information, please contact:
Johan Odendaal
Managing Director
Southern Palladium
Phone: +27 82 557 6088
Email: johan.odendaal@southernpalladium.com
16 November 2022
JSE Sponsor
Merchantec Capital
Media & investor relations inquiries: Sam Jacobs, Six Degrees Investor Relations: +61 423 755 909
Follow @SouthernPalladium on Twitter
Follow Southern Palladium on LinkedIn
JORC Checklist – Table 1 Assessment and Reporting Criteria
SECTION 1: SAMPLING TECHNIQUES AND DATA
Criteria Explanation Detail
Nature and quality of sampling (e.g. 20 cm samples are taken within the reef horizon unless there is a
cut channels, random chips, or lithological reason to deviate from this. A single sample is also taken
specific specialised industry standard in the hanging wall and footwall to test for mineralisation in the direct
measurement tools appropriate to the waste rock. The samples are split with a core saw and one half is
minerals under investigation, such as submitted to the laboratory and the other half keep in the core tray.
down hole gamma sondes, or
handheld XRF instruments, etc.).
These examples should not be taken
as limiting the broad meaning of
sampling.
Include reference to The core is orientated in such a way that the two halves are equal.
measures taken to ensure
sample representivity and the
appropriate calibration of any
measurement tools or
systems used.
Sampling
techniques Aspects of the determination of The sampling methodology is standard and as per industry practice
mineralisation that are Material to the in the Bushveld Complex (BC). The samples are 20 cm in length and
Public Report. In cases where are split into two equal halves with one half being submitted for
‘industry standard’ work has been analysis. The core size starts as HQ (10 m to 50 m) but is NQ by the
done this would be relatively simple time the reef is intersected.
(e.g. ‘reverse circulation drilling was
used to obtain 1 m samples from
which 3 kg was pulverised to produce
a 30 g charge for fire assay’). In other
cases more explanation may be
required, such as where there is
coarse gold that has inherent
sampling problems. Unusual
commodities or mineralisation types
(e.g. submarine nodules) may
warrant disclosure of detailed
information.
Drill type (e.g. core, reverse The drillholes start with HQ (for approximately 10-50 m) in the
circulation, open-hole hammer, weathered zone but are then drilled NQ once in the fresher material.
rotary air blast, auger, Bangka, The drill rigs being utilised have been the CS 1500, Delta 520 and a
Drilling sonic, etc.) and details (e.g. core smaller Longyear 44.
techniques diameter, triple or standard tube,
depth of diamond tails, face- The drill contractor is Geomech Africa.
sampling bit or other type, whether
core is oriented and if so, by what
method, etc.).
Method of recording and assessing The core is scanned in with the software ScanIT which scans the
core and chip sample recoveries core with high resolution photos and the geologists reconcile the
and results assessed. depths and core losses per 3 m run. The Core recoveries and RQD
are then calculated for the drillhole.
The geologist informs the drilling supervisor at what depth the reef is
expected so that they can take extra precautions around the
anticipated reef depth.
Measures taken to maximise sample
Drill sample recovery and ensure representative The core recoveries are measured per 3 m run and if there is
recovery nature of the samples. excessive core loss in the reef horizon it is marked as a non-
representative sample and will not be used in the resource estimation
process.
Whether a relationship exists Samples have been submitted to the ALS laboratory, but there is
between sample recovery and grade only limited data available at this stage, so this has not been checked
and whether sample bias may have yet. The core recoveries for the three intersections however all have
occurred due to preferential good core recoveries.
loss/gain of fine/coarse material.
Whether core and chip samples The core is scanned into ScanIT software which produces high
Logging have been geologically and resolution images. The logging is conducted in the ScanIT software
geotechnically logged to a level of in conjunction with the actual core. Legends have been set up in the
detail to support appropriate Mineral software that cover the necessary detailed required for Mineral
Resource estimation, mining studies Resource estimation. Alpha angles and structure detail is also
and metallurgical studies. observed and logged. The beta angle is not measured as the core is
not orientated but the downhole televiewer survey supplies structural
orientation information which is incorporated into the logs.
Whether logging is qualitative or Core logging is qualitative and utilises the ScanIT software for high
quantitative in nature. Core (or resolution images.
costean, channel, etc.) photography.
The total drillhole is geologically logged and scanned (in ScanIT) and
The total length and percentage of the the televiewer survey is conducted from 100 m above the reef
relevant intersections logged. horizon for additional structural information.
If core, whether cut or sawn and The core is cut in two equal halves for sampling and storage
whether quarter, half or all core taken. purposes.
If non-core, whether riffled, tube This project only makes use of core drilling.
sampled, rotary split, etc. and
whether sampled wet or dry.
The sample preparation code at ALS is PREP-31H which has the
following procedure:-
For all sample types, the nature,
quality and appropriateness of the
sample preparation technique. Login of samples into the system, weighing, fine crushing of entire
sample to 70% - 2 mm, split off 500 g and pulverize split to better
than 85% passing 75 microns.
Sub-sampling The QAQC sequence is as follows:-
techniques and
sample Quality control procedures adopted If the batch is less than 20 samples the batch starts and ends with a
preparation for all sub-sampling stages to blank and a CRM and duplicate are inserted into the sample stream.
maximise representivity of samples. If the batch is great than 20 samples then the batch starts and ends
with a blank and every tenth sample is either a CRM, duplicate or
blank. This equates to between 20% and 10% QAQC samples.
Measures taken to ensure that the The sampling of the reef is reef material only except for the first and
sampling is representative of the in last sample of the reef as it will have 2 cm of hanging wall or footwall
situ material collected, including for material to ensure the entire mineralisation is captured. This 2 cm
instance results for field dilution will be calculated into the reef width. The hanging wall and
duplicate/second-half sampling. footwall are sampled separately to the reef. Hence the reef samples
are representative of the in situ reef horizon. Requested duplicates
are pulp duplicates and the CRMs are material from the UG2 and MR
from African Mineral Standards (AMIS).
The reef horizon is sampled in 20c m increments so that the grade
distribution can be observed if a mining cut is required. The UG2 reef
is approximately 70 cm wide and will have three to four samples
which will be composited later. The MR is wider at around 200 cm
Whether sample sizes are and will have about ten individual samples to determine the grade
appropriate to the grain size of the distribution. These will also be composited later for Mineral Resource
material being sampled. Estimation purposes. Hanging wall and footwall samples are also
taken to check if there is any mineralisation in the direct surrounding
waste rock.
This is industry best practice for the BC.
The nature, quality and The UG2 reef will be assayed for 4E and 6E as well as for Cu, Ni,
appropriateness of the assaying and Co, Cr and Fe. The MR will be assayed for the same except the Cr
laboratory procedures used and and Fe as it is not a chromitite seam but a pyroxenite layer.
whether the technique is considered
partial or total. The ALS methods are as follows:-
PGM-ICP23 - Pt, Pd, Au package using lead fire assay with ICP-AES
finish. 30 g nominal sample weight.
Rh-ICP28 - Fire assay fusion using lead flux with Pd collector for Rh
determination by ICPAES. 10 g nominal sample weight.
PGM-MS25NS - The Platinum Group Metals are separated from the
gangue material using the Nickel Sulphide Fire Assay procedure.
After dissolution of the pulp with aqua regia, PGMs are determined
by ICP-MS.
Quality of assay ME-XRF26s - Analysis of Chromite ore samples by fused disc / XRF.
data and This method is suitable for the determination of major and minor
laboratory tests elements in ore samples which require a high dilution digest such as
Chromite ores. Elements that will analysed are Cr, Cu, Ni, Fe and
Co.
All methodologies are total.
For geophysical tools, All analytical work is undertaken by ALS Chemex South Africa (Pty)
spectrometers, handheld XRF Ltd, located in Johannesburg, which is part of the ALS group. The
instruments, etc., the parameters South African laboratory is ISO 17025 accredited by SANAS (South
used in determining the analysis African National Accreditation System).
including instrument make and
model, reading times, calibrations
factors applied and their derivation,
etc.
Nature of quality control procedures QAQC procedure has been described above. The first batch of 20
adopted (e.g. standards, blanks, samples had 2 blanks, AMIS0771 CRM and a duplicate. All QAQC
duplicates, external laboratory samples passed.
checks) and whether acceptable
levels of accuracy (i.e. lack of bias)
and precision have been
established.
The verification of significant An umpire laboratory will be utilised as an additional check at a later
intersections by either independent stage.
or alternative company personnel.
Discuss any adjustment to assay No adjustments have been made to the assayed results.
Verification of data.
sampling and
assaying Documentation of primary data, data The assay results are received from the laboratory in pdf format and
entry procedures, data verification, excel format. The excel form is imported into the Minxcon excel
data storage (physical and database. These are checked by the senior geologist. The assay
electronic) protocols. certificates are stored in the project folder.
No twinning has been undertaken to date. Drillhole E058 was
The use of twinned holes. however drilled near the historical drillhole EST011 (20 m away).
Accuracy and quality of surveys Drillhole collar positions are recorded by handheld Garmin GPS. The
used to locate drillholes (collar and drillholes will still be surveyed in at a later stage.
down-hole surveys), trenches, mine
workings and other locations used in
Mineral Resource estimation.
Location of data
points Specification of the grid system The coordinate system used is LO31.
used.
Regional three-dimensional (3D) topography was constructed from
Quality and adequacy of regional surface contours and Shuttle Radar Topography Mission
topographic control. (SRTM) data. The surface was trimmed 300–500 m beyond the
Project perimeter.
The final drillhole spacing will be approximately 350 m. The drilling
Data spacing for reporting of completed to date or in progress has a wider spacing to get a better
Exploration Results. understanding of the larger structural domains of the project. See
figure 4 in press release.
Whether the data spacing and Geological continuity is based on the knowledge of the surrounding
distribution is sufficient to establish area and 3D model constructed from historical data. The three
Data spacing and the degree of geological and grade completed drillholes to date have all intersected the UG2 which is
distribution continuity appropriate for the Mineral starting to confirm the position of the UG2 reef. These intersections
Resource and Ore Reserve are up to 3 km apart proving the continuity.
estimation procedure(s) and
classifications applied.
Whether sample compositing has The 20cm (or larger) are composited to obtain the weighted average
been applied. of the entire intersection.
Whether the orientation of sampling The drillholes are vertical drillholes and intersect the reef close to
achieves unbiased sampling of right angles. The sample is therefore unbiased. If the reef is faulted it
possible structures and the extent to will be noted and if the reef intersection is not representative, it will
which this is known, considering the not be used in Mineral Resource estimations.
Orientation of deposit type.
data in relation to
geological If the relationship between the No sampling bias will be introduced based on the drilling orientation
structure drilling orientation and the as they are close to perpendicular.
orientation of key mineralised
structures is considered to have
introduced a sampling bias, this
should be assessed and reported if
material.
Samples are only handled by the drilling contractor and the Minxcon
geological staff. There is a strict chain of custody that is followed
from the time the core leaves the drill site to the time the sample is
received by the laboratory.
The measures taken to ensure
Sample security sample security.
The results of any audits or reviews No audits have been undertaken on the drilling to date.
Audits or reviews of sampling techniques and data.
SECTION 2: REPORTING OF EXPLORATION RESULTS
Criteria Explanation Detail
Type, reference name/number, A Preferent Prospecting Right LP002PPR was granted to the
location and ownership including Bengwenyama Tribe’s investment vehicle, Miracle Upon Miracle
agreements or material issues with Investments (Pty) Ltd in 2015 over the farms Eerstegeluk 322 KT and
third parties such as joint ventures, Nooitverwacht 324 KT. This was renewed in early 2021 and is valid
partnerships, overriding royalties, until February 2024. The Right covers all elements of potential
Mineral tenement native title interests, historical sites, economic interest.
and land tenure wilderness or national park and
status environmental settings.
The security of the tenure held at The right is valid until February 2024.
the time of reporting along with any
known impediments to obtaining a
licence to operate in the area.
Exploration done Drilling was undertaken by Rustenburg Platinum Mines from 1966 to
by other parties 1985. Trojan exploration completed drilling on Eerstegeluk between
1990 and 1993. Drilling prior to 1994 was not used as part of this
Acknowledgment and appraisal of Mineral Resource estimate (MRE) due to the incomplete nature or
exploration by other parties. availability of the drillhole data. Nkwe completed drillholes in 2007–
2008. This drilling supports the MRE. Reconnaissance mapping has
been completed by previous operators.
The target UG2 and Merensky reefs occur within the Upper Critical
Zone of the Rustenburg Layered Suite of the BC. These reefs are
laterally continuous for tens to hundreds of kilometres. The UG2
comprises mineralised chromitite, whereas the Merensky Reef is
Geology Deposit type, geological setting and defined as the mineralised pyroxenitic zone between upper and lower
style of mineralisation. chromitite stringers. The BC is the world’s largest igneous intrusion
and also the largest global repository of PGEs and chromitite. Both
reefs are stratiform with relatively minor disruptive structural features
and replacement deposits.
A summary of all information
material to the understanding of the
exploration results including a
tabulation of the following
information for all Material drillholes:
* easting and northing of the drillhole
collar
* elevation or RL (Reduced Level –
elevation above sea level in metres)
of the drillhole collar
Drillhole * dip and azimuth of the hole
Information * down hole length and interception
depth
* hole length. All drillholes were drilled -90 degrees. Reef intersection depths are in
table 1 in the body of the press release.
If the exclusion of this information is N/A
justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
explain why this is the case.
In reporting Exploration Results, No updated Mineral Resource or Exploration Target has been
weighting averaging techniques, completed utilising this new drilling data.
maximum and/or minimum grade
truncations (e.g. cutting of high
grades) and cut-off grades are
usually Material and should be
stated.
Data aggregation Where aggregate intercepts No aggregation of data has been done at this stage.
methods incorporate short lengths of high
grade results and longer lengths of
low grade results, the procedure
used for such aggregation should be
stated and some typical examples of
such aggregations should be shown
in detail.
The assumptions used for any No metal equivalent has been reported.
reporting of metal equivalent values
should be clearly stated.
If the geometry of the mineralisation The intersection lengths stated are the downhole lengths. The
with respect to the drillhole angle is drillholes are drilled at -90 degrees and the reef dip is expected to be
Relationship known, its nature should be approximately 12 degrees. Therefore, the difference should be
between reported. minimal.
mineralisation
widths and If it is not known and only the down
intercept lengths hole lengths are reported, there
should be a clear statement to this
effect (e.g. ‘down hole length, true
width not known’).
Appropriate maps and sections (with A map of the drillhole positions is included in the press release
scales) and tabulations of intercepts (figure 4 in the body of the press release). A preliminary stratigraphic
should be included for any column has been completed for the project (figure 3 in the body of
significant discovery being reported the press release). A section has not been included as the larger
Diagrams These should include, but not be structural blocks are still being determined with the drilling.
limited to a plan view of drillhole
collar locations and appropriate
sectional views.
Where comprehensive reporting of Reef intersection depths for all the drillholes have been reported in
all Exploration Results is not the table below.
practicable, representative reporting
Balanced of both low and high grades and/or
reporting widths should be practiced to avoid
misleading reporting of Exploration
Results.
Other exploration data, if meaningful A high-definition helicopter borne Total Magnetic Field (TMF)
and material, should be reported gradient and gamma-ray spectrometry survey was completed by
Other substantive including (but not limited to): New Resolution Geophysics (Pty) Ltd (NRG) in January of 2022
exploration data geological observations; which highlighted the major structural features that could be
geophysical survey results; expected.
geochemical survey results; bulk
samples – size and method of The total line kilometres flown was 1,425 lkm over the farms
treatment; metallurgical test results; Eerstegeluk 322 KT and Nooitverwacht 324 KT with the survey being
bulk density, groundwater, flown at a height between 25 m and 80 m due to the topography and
geotechnical and rock residential areas with an average height of approximately 35 m to 40
characteristics; potential deleterious m and a line spacing of 50 m.
or contaminating substances.
The nature and scale of planned
Further work further work (e.g. tests for lateral
extensions or depth extensions or This is the start of the drilling programme, and the extent of the
large-scale step-out drilling). drilling programme is shown in the figure in the press release. The
total planned drilling meters for phase 1 is approximately 25,000 m.
Diagrams clearly highlighting the
areas of possible extensions,
including the main geological
interpretations and future drilling
areas, provided this information is
not commercially sensitive.
Date: 16-11-2022 08:14:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
