Wrap Text
Bengwenyama Project Mining Right Application Submitted
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”)
Bengwenyama Project Mining Right Application Submitted
Highlights:
• The Mining Right application has been submitted to the Department of Mineral Resources and
Energy for the 70% owned Bengwenyama Platinum Group Metals project.
• Upon acceptance by the Department, the Social and Environmental phases of permitting will
commence, incorporating specialised studies to establish baseline socio-economic and biophysical
conditions. These studies will evaluate the potential impacts of proposed operational activities.
• Resource modelling incorporating results of the on-going drill programme has started. A second
interim resource update on the existing 25.11 million ounces JORC Resource is scheduled for release
in the fourth quarter of 2023.
Southern Palladium (ASX:SPD and JSE:SDL), ‘Southern Palladium’ or ‘the Company’) is pleased to
announce the submission of a Mining Right Application (MRA) to the Department of Mineral Resource
and Energy (DMRE) for its 70%-owned Bengwenyama Platinum-Group Metal project, situated on the
Eastern Limb of the Bushveld Complex in South Africa.
The company's management is confident in proceeding with this application, bolstered by the recent 34%
increase in the total Mineral Resource (comprising Indicated and Inferred categories), now standing at
25.11 million ounces of 6PGE+Au. This growth has been achieved alongside ongoing drilling activities on
the property, as also outlined in the ASX Announcement of 10 July 2023. Drilling is continuing and the
company is planning to release a 2nd interim resource update in 4Q 2023.
Managing Director Johan Odendaal, said: “The submission of the Mining Right Application signifies a
significant milestone in our successful Platinum Group Metal exploration journey since its commencement
in August 2022. We are confident to proceed with this application following the recent 34% increase in our
resource which now stands at 25.11 million ounces of 6PGE+Au. This application marks our transition from
a pure exploration to a development-focused company”.
Mining Right Application
The submission of a Mining Right Application (MRA) to the Department of Mineral Resource and Energy
(DMRE) has been executed for the company’s 70%-owned Bengwenyama Platinum-Group Metal project.
The application is for Platinum Group Metals, Gold, Copper, Chrome, Cobalt, Silver and Nickel over the
full extent of the farms Nooitverwacht 324 KT and Eerstegeluk 327 KT, both of which are in the Limpopo
Province of South Africa. The Exploration tenement is 100% held by Miracle Upon Miracle Investments
(Pty) Ltd (MUM) in which the Company holds a 70% interest. The total application area over the two farms
measures 5,280 ha in extent.
Figure 1: Regulatory Plan Submitted for the Mining Right Application
Pending acceptance of the MRA, an environmental scoping phase will commence, followed by a full Social
and Environmental Impact Assessment phase. Concurrently, an Integrated Water Use Licence process will
take place. During this time, specialist studies will be undertaken to determine baseline socio-economic
and biophysical environments and assess impacts of proposed operational activities. Full public
participation processes with stakeholders will accompany each phase. In terms of regulated timelines, the
processes should be concluded within 300 days before the right is finally granted.
Future Work
• A geotechnical study has been initiated, critical for the detailed mine designs and Scoping
/Prefeasibility Study (PFS) planning and is anticipated to conclude in October.
• Ongoing metallurgical test work encompasses flotation efficiency tests (MF2 testing) and
determinations of the bond ball mill work index due in the fourth quarter.
• Drilling operations are on-going, with a primary focus on the Eastern side of the Eerstegeluk farm,
with the objective of converting Inferred to Measured and Indicated resources. The company is
in the process of preparing for the release of a second interim resource update in the fourth
quarter of 2023.
• Completion of the second interim resource update should allow the finalisation of an udpated
Scoping Study for the Bengwenyama Project, due for release in the first quarter of 2024.
• Work on the PFS has commenced and is expected to be completed in the second quarter of 2024.
This announcement has been approved for release by the Board of Southern Palladium Limited.
JORC Compliance Statement
The information is extracted from the report entitled “Bengwenyama drilling and PFS progress update:
Combined PGE Mineral Resource now totals 25.1Moz (7E basis)” created on 10 July 2023 and is available
to view on the Company’s website www. southernpalladium.com . The Company confirms that it is not
aware of any new information or data that materially affects the information included in the original
market announcement and that all material assumptions and technical parameters underpinning the
estimates in the relevant market announcement continue to apply and have not materially changed. The
company confirms that the form and context in which the Competent Person’s findings are presented
have not been materially modified from the original market announcement.
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.
The Company, holding a 70% stake in the project, will primarily concentrate on delivering a Pre-
Feasibility study. Additionally, following the completion of geophysical survey conducted in 2022 and
the September 2023 submission of the Mining Right application, , they will oversee the completion of
the diamond drill programme initiated in August 2022, along with several other concurrent technical
studies.
Bengwenyama presents a substantial opportunity in the global PGM market. Previous exploration
efforts have already yielded a JORC 2012-compliant Inferred Mineral Resource of 25.12Moz within two
ore horizons—the UG2 chromitite and Merensky Reef, achieved in 2023.
Moreover, an assessment conducted by mining industry consultants CSA Global in 2021, has identified
a significant exploration target beyond the currently explored area. The Company is led by a seasoned
on-ground management team, including some of South Africa's most distinguished mining industry
executives.
For further information, please contact:
Johan Odendaal
Managing Director
Southern Palladium
Phone: +27 82 557 6088
Email: johan.odendaal@southernpalladium.com
2 October 2023
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
Date: 02-10-2023 08:00:00
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 
